Starting in the fall of 2025, the Massachusetts Institute of Technology (MIT) will implement a groundbreaking financial aid initiative that allows students from families earning under $200,000 annually to attend the prestigious university without paying tuition. This policy is expected to open doors for 80% of American households, making an MIT education more accessible than ever before.
For students from families earning less than $100,000 per year, the benefits extend even further. These students will have the full cost of their education covered, including tuition, housing, dining, books, and personal expenses. This change raises the current threshold of $75,000, offering enhanced support for low- and middle-income families who might otherwise find such opportunities out of reach.
This initiative represents MIT’s ongoing commitment to ensuring affordability for students of all financial backgrounds. The university has long prioritized need-based financial aid, dedicating over $167 million to undergraduate aid this year—a figure that has grown by 70% in the past decade. These resources are aimed at reducing financial barriers while maintaining MIT’s high standards of excellence in science, technology, and engineering education.
President Sally Kornbluth highlighted the university’s mission to make its rigorous and transformative education attainable for talented individuals, regardless of financial constraints. “We want every student who dreams of attending MIT to know that cost should not deter them,” she said. She also underscored the value of an MIT degree, noting its role in shaping graduates who make substantial contributions to society while achieving personal and professional success.
MIT’s need-blind admissions policy ensures that students are evaluated solely on their abilities and potential, without regard to their financial situation. The university also meets 100% of demonstrated financial need, meaning students on aid are not required to take out loans to fund their education. Unlike many peer institutions, MIT does not provide admissions advantages for children of alumni or major donors, focusing instead on equitable access for all applicants.
These financial policies have made an impact on the student experience. Last year, 87% of MIT undergraduates graduated debt-free, while those who did borrow incurred relatively modest debt. In addition, MIT graduates consistently report strong earning potential, with average starting salaries exceeding $126,000, reflecting the value of the education they receive.
MIT’s expanded financial aid program is made possible through its endowment, which is supported by alumni and other donors who are committed to future generations of students. Kornbluth described the endowment as a bridge between past, present, and future, enabling the university to provide financial support on such a scale.
This new initiative reflects a broader effort across higher education to make college more accessible for students from diverse economic backgrounds. In recent months, several universities, including the University of Texas system and Carnegie Mellon University, have announced similar measures. These changes aim to address growing concerns over the rising cost of college and ensure that top-tier educational opportunities are not limited by income.
As MIT takes this step, it reinforces the idea that world-class education should be an achievable goal for all talented students. By easing financial pressures, the university hopes to empower students to focus on their passions and contribute to solving the pressing challenges of our time.
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