MIT announced on Wednesday that it will offer free tuition to undergraduate students from families earning less than $200,000 a year, starting in 2025.
“Undergraduates with family income below $200,000 can expect to attend MIT tuition-free starting next fall, thanks to newly expanded financial aid,” MIT announced, adding that “Eighty percent of American households meet this income threshold.”
For students whose families earn less than $100,000 a year, the university is offering to cover additional costs, including “housing, dining, fees, and an allowance for books and personal expenses,” MIT said.
Notably, MIT tuition costs $59,750, but comes to a grand total of roughly $82,730 annually after costs for housing, food, books, course materials, supplies, personal expenses, and a “student life” fee are figured into the equation, according to the school’s website.
“These new steps to enhance MIT’s affordability for students and families are the latest in a long history of efforts by the Institute to free up more resources to make an MIT education as affordable and accessible as possible,” the university said in its announment.
MIT President Sally Kornbluth noted that “The cost of college is a real concern for families across the board.”
“We’re determined to make this transformative educational experience available to the most talented students, whatever their financial circumstances,” Kornbluth added. “So, to every student out there who dreams of coming to MIT: Don’t let concerns about cost stand in your way.”
The school added that its endowment “allows the Institute to provide this level of financial aid, both now and into the future.”
“Today’s announcement is a powerful expression of how much our graduates value their MIT experience,” Kornbluth said. “Because our ability to provide financial aid of this scope depends on decades of individual donations to our endowment, from generations of MIT alumni and other friends.”
“In effect, our endowment is an inter-generational gift from past MIT students to the students of today and tomorrow,” Kornbluth added.
On Wednesday, the University of Texas System approved a plan to provide undergraduates whose families earn $100,000 or less with tuition-free education at all of its nine institutions, starting in the fall of 2025.
Alana Mastrangelo is a reporter for Breitbart News. You can follow her on Facebook and X at @ARmastrangelo, and on Instagram.
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