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

AV2.0 autonomous vehicles adapt to unknown road conditions concept
AV2.0 autonomous vehicles adapt to unknown road conditions concept

The big new idea for making self-driving cars that can go anywhere

The mainstream approach to driverless cars is slow and difficult. These startups think going all-in on AI will get there faster.

biomass with Charm mobile unit in background
biomass with Charm mobile unit in background

Inside Charm Industrial’s big bet on corn stalks for carbon removal

The startup used plant matter and bio-oil to sequester thousands of tons of carbon. The question now is how reliable, scalable, and economical this approach will prove.

images created by Google Imagen
images created by Google Imagen

The dark secret behind those cute AI-generated animal images

Google Brain has revealed its own image-making AI, called Imagen. But don't expect to see anything that isn't wholesome.

AGI is just chatter for now concept
AGI is just chatter for now concept

The hype around DeepMind’s new AI model misses what’s actually cool about it

Some worry that the chatter about these tools is doing the whole field a disservice.

Stay connected

Illustration by Rose WongIllustration 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.