MIT announces free tuition for families earning under $200,000. Apply now!

Highlights: MIT provides free tuition for families earning under $200,000

• MIT will introduce an expansion of financial aid that will cover tuition fees for admitted students
• By the following fall, undergraduate students whose families earn less than $200,000 annually will not pay tuition fees.
• Universities will also cover additional costs for families earning less than $100,000.
• MIT also provides full-tuition scholarships for students with families earning up to $140,000 and covers expenses for those earning up to $100,000.

 

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Extending opportunities for Higher Education

MIT introduced this initiative as part of a broader effort to provide financial aid for students pursuing higher education. MIT announced a significant extension covering extra charges, including accommodation, food, fees, books, and personal expenses.

 

The expanded financial aid plans increase the financial aid budget to $167.3 million for the current academic year, reflecting a 70% rise over the past year. Undergraduates who received financial aid for the 2023-2024 school years paid a median price of $12,938, and nearly 87% of the graduating class will complete their studies without loans.

 

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MIT broader aspect for financial aid by 2025

MIT’s announcement aligns with the other universities who have lowered the financial barriers, such as:

 

• The University of Texas system decided to provide financial support for families earning $100,000 or less
• Harvard University will also offer financial aid for families earning up to $85,000 annually

 

MIT tuition fees for the 2024-2025 academic years are around $62,000, with a total cost of housing of nearly $86,000. Families earning between $100,000 and $200,000 can expect to pay from $0 to $24,000 as a yearly cost. Based on their situation, financial aid will be available to families earning above $200,000.

 

Students are required to submit the MIT financial aid application and tax document to qualify. Financial aid advisors are available to assist families with the process. This move will further position MIT as a leader in Science and Technology education, ensuring that undergraduate students can continue to study.

 

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