MIT to make tuition free for households earning under $200K a year

[Trendiggity]

Starting in the 2025 academic year, the Massachusetts Institute of Technology (MIT) has announced a major expansion to its financial aid program that could save students a small fortune. For families in the US that earn less than $100,000, MIT will even foot the entire bill, covering tuition, housing, dining, fees, and even allowances for books and personal expenses.

 

According to the academy, the expanded efforts in financial aid will alleviate student fees of 80% of American households.

 

President Sally Kornbluth acknowledges that the rising cost of higher education has put significant pressure on many families. MIT is determined to alleviate that pressure and offer its intensive, STEM-rooted education to the best and brightest—regardless of financial background. The expansion will draw from MIT’s endowment, which is now allocating $167.3 million toward need-based financial aid this year, a notable increase from a decade ago.

 

MIT’s approach is part of a larger movement seen across US universities, which have been striving to make college more financially accessible. Other schools, like the University of Texas System, Carnegie Mellon, St John’s College, and Brandeis University, have also begun offering no-tuition policies for students from families with lower income levels.

 

These moves come in the wake of the Supreme Court’s decision to overturn President Joe Biden’s student debt relief plan. With federal debt forgiveness off the table, universities are stepping in to find other ways to make higher education affordable. Kornbluth points out that the value of an MIT education—with its intense focus on engineering and science—remains immense. Graduates have some of the strongest career prospects and employability rates worldwide, as evidenced by recent Wall Street Journal rankings.

 

MIT’s admissions are also need-blind, meaning an applicant’s ability to pay isn’t a factor in their acceptance decision, and there’s no extra advantage given to the children of alumni or major donors. Dean of Admissions Stu Schmill, a graduate from 1986, highlights that MIT’s current financial aid offerings have made an MIT education “much more affordable now than at any point in the past,” even though the headline tuition cost has risen.

 

“We’re determined to make this transformative educational experience available to the most talented students, whatever their financial circumstances,” concludes Kornbluth. “So, to every student out there who dreams of coming to MIT: Don’t let concerns about cost stand in your way.”

 

• https://www.business-standard.com/world-news/mit-goes-tuition-free-for-families-earning-below-200k-in-2025-details-124112100571_1.html 
• https://www.opb.org/article/2024/11/22/university-of-texas-mit-among-colleges-announcing-free-tuition/ 
• https://m.economictimes.com/nri/study/mit-to-offer-free-tuition-to-families-earning-less-than-200000/articleshow/115587193.cms 

 

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