MIT will make tuition free for families earning less than $200,000 a year
CAMBRIDGE - MIT says that starting in the fall of 2025, students from families with incomes under $200,000 a year will not be charged tuition.
Families making under $100,000 will not have to pay housing, dining or other fees, and they'll have an allowance for books and other personal expenses.
Currently, the university in Cambridge, Massachusetts waives tuition for families earning less than $140,000 and fees are also covered for those making less than $75,000.
"Cost of college is a real concern"
"The cost of college is a real concern for families across the board, and we're determined to make this transformative educational experience available to the most talented students, whatever their financial circumstances," MIT President Sally Kornbluth said in a statement.
Families who make more than $200,000 a year can still receive need-based financial aid, MIT says.
Tuition for the 2024-2025 academic year at MIT is nearly $62,000. Housing, dining and other fees can add up to another $24,000 annually.
MIT has said it wants to focus on making its education affordable to all students. The university said this year's incoming class is less diverse because of a 2023 Supreme Court ruling to reject affirmative action.
Financial aid at Massachusetts colleges
At nearby Harvard University, families making between $85,000 and $150,000 contribute 0-10% of their income toward their student's education, while those making above $150,000 are asked to pay proportionally more "based on their individual circumstances."
Brandeis University in Waltham said on Tuesday that starting next fall it would waive tuition for students with families making less than $75,000 a year. Families earning less than $200,000 a year will get grants and scholarships to cover half of tuition, which is over $67,000 a year.
UMass Boston last month said Massachusetts residents making less than $75,000 a year will not have to pay tuition or mandatory fees.