Overview:
MIT will eliminate tuition for students from families earning less than $200,000 annually.
The Massachusetts Institute of Technology (MIT) announced a landmark expansion of its financial aid program, starting in the fall of 2025, eliminating tuition for students from families earning less than $200,000 annually.
Families earning under $100,000 will receive even more support: tuition, housing, dining, and other fees will be fully covered, and students will receive an allowance for books and personal expenses.
Currently, MIT waives tuition for families earning less than $140,000 and covers fees for those making under $75,000.
“Making MIT Accessible to All”
“The cost of college is a real concern for families across the board,” MIT President Sally Kornbluth said in a statement. “We’re determined to make this transformative educational experience available to the most talented students, whatever their financial circumstances.”
For families earning over $200,000, need-based financial aid will still be available.
With tuition for the 2024-2025 academic year set at nearly $62,000 and additional fees, including housing and dining, totaling around $24,000, this initiative aims to alleviate the financial strain on middle-income families and broaden access to MIT’s prestigious education.
Responding to Challenges in Diversity
The move comes as MIT faces challenges in maintaining diversity in its student body. The university noted a decline in diversity within its incoming class following the 2023 Supreme Court decision striking down affirmative action policies.
By focusing on affordability, MIT hopes to ensure that financial barriers do not prevent talented students from accessing its resources and opportunities, regardless of background.