Tuition fees and costs for undergraduate students increase by 3.5% next academic year
MIT, one of the world's most prestigious universities, has announced a 3.5% increase in undergraduate tuition and fees for the 2014-15 academic year. This brings the total tuition and fees to $45,016. However, the institution's commitment to affordability and broad access is evident in its significant investment in financial aid.
Since 2000, MIT has more than tripled its spending on financial aid, outpacing the increase in tuition. The need-based undergraduate financial aid budget for the 2014-15 academic year remains at $95 million. This investment has enabled about 61% of MIT's undergraduates to receive need-based financial aid.
The financial aid measures introduced around 2014-15 have been particularly impactful. Approximately 20% of all undergraduates now attend MIT tuition-free due to these policies. In the 2014-15 academic year, 32% of undergraduates will attend tuition-free, considering scholarships from MIT and other sources.
This evolution reflects MIT’s commitment to affordability and broad access. Even as tuition has risen moderately, a sizeable portion of students can attend without paying tuition out of pocket. In the 2013-14 academic year, 59% of MIT undergraduates graduated with no student debt. Those who did borrow owed an average of $17,891 for four years of education.
The increased spending on financial aid has been instrumental in making MIT more accessible. This investment in students' futures continues to be a top priority for the institution. As MIT looks towards the future, it remains committed to providing financial support to those who need it, ensuring that the brightest minds have the opportunity to pursue their dreams, regardless of their financial circumstances.
- MIT's investment in financial aid has more than tripled since 2000, outpacing the increase in tuition, demonstrating the institution's commitment to affordability and broad access.
- Due to the financial aid measures introduced in around 2014-15, about 20% of all MIT undergraduates now attend tuition-free, with 32% attending tuition-free in the 2014-15 academic year, considering scholarships from MIT and other sources.
- In the 2013-14 academic year, 59% of MIT undergraduates graduated with no student debt, while those who did borrow owed an average of $17,891 for four years of education.
- The institution's significant investment in financial aid has been instrumental in making MIT more accessible, continuing to be a top priority as MIT looks towards the future, ensuring that the brightest minds have the opportunity to pursue their dreams, regardless of their financial circumstances.
