Good news for those about to start the college application process. One of the most prestigious schools in the world, the Massachusetts Institute of Technology (MIT), has announced that it will make tuition free for all undergraduate students whose families earn less than $200,000 per year starting next fall.
This incredible news lifts the barrier for less economically privileged individuals. Additionally, students whose families make less than $100,000 per year will receive further help, as the university will also cover all other costs, such as housing, dining, and other fees, as well as offering an allowance for books and personal expenses. Eligible students whose families make between $100,000 to $200,000 can expect to pay a sliding scale, while families that make over $200,000 a year can still receive need-based financial aid based on their unique circumstances.
“The cost of college is a real concern for families across the board,” MIT President Sally Kornbluth said via a statement, “and we’re determined to make this transformative educational experience available to the most talented students, whatever their financial circumstances. So, to every student out there who dreams of coming to MIT: Don’t let concerns about cost stand in your way.”
This effort follows a movement to try to make higher education more accessible around the U.S. According to a press release, MIT is one of only nine colleges in the country that does not consider applicants’ ability to pay as part of its admissions process. “MIT does not expect students on aid to take loans, and, unlike many other institutions, MIT does not provide an admissions advantage to the children of alumni or donors.” About 18% of current MIT undergraduates are first-generation college students.
“We believe MIT should be the preeminent destination for the most talented students in the country interested in an education centered on science and technology, and accessible to the best students regardless of their financial circumstances,” says Stu Schmill, MIT’s dean of admissions and student financial services. “With the need-based financial aid we provide today, our education is much more affordable now than at any point in the past.”
Source: Undergraduates with family income below $200,000 can expect to attend MIT tuition-free starting in 2025
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