### MIT Expands Financial Aid: Tuition-Free Education for Most American Families

In a pioneering move to make higher education more affordable, MIT has announced significant expansions to its financial aid program. Starting next fall, undergraduates from families earning less than $200,000 annually can expect to attend MIT tuition-free. This threshold covers approximately 80 percent of American households, underlining MIT's commitment to accessibility and affordability.

For households with less than $100,000 in annual income, the support is even more generous. These families will not have to contribute anything towards the cost of education, which includes tuition, housing, dining, fees, and allowances for books and personal expenses. This new income threshold is an increase from the current $75,000 mark, and the $200,000 threshold for tuition-free attendance represents a rise from its current level of $140,000.

MIT President Sally Kornbluth remarked on the profound practical value of an MIT education, stressing its potential to improve the financial futures of graduates. "As reported by the Wall Street Journal, MIT excels at enhancing the financial prospects of its students more than any other U.S. college," she stated. "We're determined to make this transformative educational experience accessible to the most talented students, regardless of their financial circumstances."

Illustrating its long-standing dedication to making education affordable, MIT has allocated $167.3 million in need-based financial aid this year. This is a substantial increase of 70 percent compared to a decade ago. Unlike many institutions, MIT maintains a need-blind admissions process for all undergraduates and meets their full demonstrated financial need without requiring loans.

These measures reflect MIT's broader mission to be the top destination for students interested in science and technology, irrespective of their financial background. Stu Schmill, MIT's dean of admissions and student financial services, noted that despite the rising cost of tuition, the education MIT offers today is more affordable than ever for students receiving financial aid.

For the Class of 2024, the median annual cost for an MIT undergraduate receiving financial aid was $12,938, allowing 87 percent of these students to graduate debt-free. Those who did take loans graduated with a median debt of $14,844. Graduates entering the workforce benefit from the prestige of an MIT degree, with average starting salaries of $126,438.

MIT's capacity to provide such comprehensive financial aid stems from its endowment, which is funded by generous alumni and friends. "Today's announcement highlights the value our graduates place on their MIT experience," President Kornbluth emphasized, acknowledging that the endowment acts as an inter-generational gift supporting current and future students.

By the fall of 2025, for families earning between $100,000 and $200,000, the expected parental contribution will range from $0 to a maximum of around $23,970. This is significantly below the average annual cost of $27,146 for in-state students attending public universities and living on campus in the U.S. Even families with incomes above $200,000 may receive need-based aid, depending on their unique financial circumstances.

In an ongoing effort to improve accessibility, MIT's Committee on Undergraduate Admissions and Financial Aid, at the behest of President Kornbluth, is reviewing current policies. The recent changes to financial aid are the first recommendations from this review to be implemented, marking a significant step towards ensuring MIT remains an institution of opportunity for all.