Skip to Content
MIT News magazine

MIT More Affordable

Financial-aid budget increases to $74 million

Although undergraduate tuition and fees at MIT are going up 4 percent, to $36,390, for 2008-‘09, many parents will find sending their children to the Institute less financially stressful. In fact, nearly 30 percent will not have to pay any tuition at all. Students from families earning less than $75,000 a year and with typical assets will have all tuition covered by some combination of MIT scholarships, federal and state grants, and outside scholarships. What’s more, those students will no longer be expected to take out loans to cover non­tuition expenses. A student participating in MIT’s paid Undergraduate Research Opportunities Program (UROP) every semester would be able to graduate with no debt.

For families earning less than $100,000 annually and with typical assets, home equity will no longer be considered a factor in ability to pay for college. This will reduce parental contributions by an average of $1,600. For families who rent, the expected parental contribution will drop by a comparable amount. Also, the work-study requirements for all financial-aid recipients will be reduced by 10 percent.

Ninety percent of undergraduates receive aid of some kind. For the 60 percent who receive MIT scholarships, “net tuition is $8,100–an amount that approximates the in-state cost of many public universities,” says MIT’s dean for undergraduate education, Daniel Hastings.

Keep Reading

Most Popular

A Roomba recorded a woman on the toilet. How did screenshots end up on Facebook?

Robot vacuum companies say your images are safe, but a sprawling global supply chain for data from our devices creates risk.

A startup says it’s begun releasing particles into the atmosphere, in an effort to tweak the climate

Make Sunsets is already attempting to earn revenue for geoengineering, a move likely to provoke widespread criticism.

10 Breakthrough Technologies 2023

Every year, we pick the 10 technologies that matter the most right now. We look for advances that will have a big impact on our lives and break down why they matter.

These exclusive satellite images show that Saudi Arabia’s sci-fi megacity is well underway

Weirdly, any recent work on The Line doesn’t show up on Google Maps. But we got the images anyway.

Stay connected

Illustration by Rose Wong

Get the latest updates from
MIT Technology Review

Discover special offers, top stories, upcoming events, and more.

Thank you for submitting your email!

Explore more newsletters

It looks like something went wrong.

We’re having trouble saving your preferences. Try refreshing this page and updating them one more time. If you continue to get this message, reach out to us at customer-service@technologyreview.com with a list of newsletters you’d like to receive.