MIT to offer free education to students with family income below $200,000

MIT recently announced that undergraduates with family income below $200,000 can expect to attend MIT tuition-free starting next fall.

Pursuing higher education from the best universities is a dream for many. Many talented students give up on their dreams and aspirations owing to the expenses incurred during this educational journey.

University says this was possible due to the newly expanded financial aid.

Massachusetts Institute of Technology (MIT) recently announced that undergraduates with family income below $200,000 can expect to attend MIT tuition-free starting next fall. This the university says was possible due to the newly expanded financial aid.

According to MIT News, eighty percent of American households meet this income threshold and for the 50 percent of American families with income below $100,000, parents can expect to pay nothing at all toward the full cost of their students’ MIT education, which includes tuition as well as housing, dining, fees, and an allowance for books and personal expenses.

“MIT’s distinctive model of education — intense, demanding, and rooted in science and engineering — has profound practical value to our students and to society,” says MIT President Sally Kornbluth.

According to the report, MIT is one of only nine colleges in the US that does not consider applicants’ ability to pay as part of its admissions process and that meets the full demonstrated financial need ⁠for all undergraduates.

The steps were taken to make an MIT education as affordable and accessible as possible for students and parents, as per the varsity.

As per the MIT News release, from next fall, for families with income below $100,000, with typical assets, parents can expect to pay nothing for the full cost of attendance, which includes tuition, housing, dining, fees, and allowances for books and personal expenses. For families with income from $100,000 to $200,000, with typical assets, parents can expect to pay on a sliding scale from $0 up to a maximum of around $23,970, which is this year’s total cost for MIT housing, dining, fees, and allowances for books and personal expenses. Which is the annual average cost for in-state students to attend and live on campus at public universities in the US, according to the Education Data Initiative.