Massachusetts Institute of Technology announced Wednesday that it would waive tuition for families with incomes less than $200,000.
Starting in 2025, families earning less than $100,000 will be able to expect all their costs, such as housing, meals, and textbook fees, to be waived.
Sally Kornbluth said, “MIT’s unique education model – intensive, demanding, and rooted firmly into science and technology – has profound practical benefits both for students and society.”
Kornbluth stated, “The cost of education is a concern to all families. We are determined to offer this transformative educational experience to talented students, regardless of their financial circumstances. We say to every student who is interested in attending MIT: “Don’t allow cost concerns to stand in your way. “
MIT, one of nine colleges in the United States, does not consider a student’s ability to pay when deciding their admission.
Last Year, MIT reported the cost of an undergrad who received financial assistance paid $12,938 per annum.
Kornbluth said that “today’s announcement is a powerful declaration of how much our MIT alumni value their MIT experience.” Our ability to provide financial aid of this magnitude relies on decades-long donations from MIT Alumni and other friends over generations. Our endowment is a gift from past MIT students to students of today and tomorrow.”
