A Cambridge-based university has made a significant decision to offer tuition-free education to around 80 percent of its incoming undergraduate students.
Massachusetts Institute of Technology (MIT) recently declared that starting in the 2025â2026 academic year, undergraduates from families earning less than $200,000 annually with typical assets will be able to attend MIT without paying tuition.
Moreover, families with total incomes below $100,000 with typical assets will not be required to contribute to their student’s MIT education, covering tuition, housing, dining, fees, and an allowance for books and personal expenses.
Additionally, students are expected to contribute to their expenses through summer savings and part-time employment during the academic year.
The $100,000 threshold represents an increase from $75,000 this year, while next year’s $200,000 threshold for tuition-free attendance will rise from the current level of $140,000. School officials highlighted that these measures aim to make an MIT education more affordable and accessible to a diverse student body.
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âCollege costs are a genuine worry for families at all income levels, and we are committed to making this transformative educational experience accessible to the most talented students, irrespective of their financial circumstances. So, to every student aspiring to join MIT: Do not let cost concerns hinder your path.â
MIT does not mandate students receiving financial aid to take out loans and does not provide preferential treatment to alumni or donors’ children.
âWe believe MIT should be the top choice for the most gifted students in the nation seeking a science and technology-focused education, open to the best students regardless of their financial situation,â said Stu Schmill, MITâs dean of admissions and student financial services.
âWith the need-based financial aid we offer today, our education is more affordable than ever, even though MIT’s âsticker priceâ is higher now than when I was an undergraduate in 1986,â added Schmill, an MIT alumnus.
MIT’s endowment is sustained by contributions from individual alumni and supporters, as per school officials.
âToday’s announcement reflects how much our alumni cherish their MIT experience… Our endowment is a gift across generations from past MIT students to present and future ones.â
Several renowned American universities have recently introduced programs to reduce or eliminate tuition fees for a significant portion of their undergraduate students.
In 2024, Cooper Union revealed that approximately 82 percent of undergraduate tuition expenses would be covered by scholarships for the 2024â2025 academic year, aiming to reinstate full-tuition scholarships by the 2028â2029 academic year.
In July 2024, Johns Hopkins University received a $1 billion donation from Bloomberg Philanthropies to offer free tuition for medical students from families earning under $300,000 and cover living expenses for those earning below $175,000.
