Starting in the fall of 2025, undergraduates from families with incomes below $200,000 will be able to attend MIT tuition-free, thanks to expanded financial aid. This initiative will benefit 80% of American households.
For families with incomes under $100,000, parents will pay nothing for the entire cost of attendance, including tuition, housing, dining, fees, and allowances for books and personal expenses. This threshold has increased from $75,000 this year. Additionally, the $200,000 income cap for tuition-free attendance marks a rise from the current threshold of $140,000.
These changes are part of MIT’s ongoing commitment to making its education more affordable and accessible. This year, the Institute has allocated $167.3 million in need-based financial aid for undergraduates, a 70% increase compared to a decade ago.
MIT President Sally Kornbluth highlighted that MIT’s rigorous education, focused on science and engineering, provides substantial value to both students and society. MIT has also been recognized for its exceptional ability to improve the financial futures of its graduates, who have some of the highest employability rates globally. Kornbluth stressed that financial concerns should not prevent talented students from pursuing an MIT education.
MIT is one of only nine U.S. colleges that does not consider an applicant’s ability to pay during the admissions process and meets the full demonstrated financial need for all undergraduates. Notably, MIT does not require students on financial aid to take out loans, and it does not offer admissions advantages based on legacy status. Eighteen percent of current MIT undergraduates are the first in their families to attend college.
MIT’s Dean of Admissions and Student Financial Services, Stu Schmill, emphasized the Institute’s mission to be the top choice for talented students interested in science and technology, regardless of financial background. While MIT’s “sticker price” has risen over time, the financial aid offered today makes an MIT education more affordable than ever before.
Last year, the median annual cost for an MIT undergraduate receiving financial aid was $12,938, with 87% of the Class of 2024 graduating debt-free. Those who borrowed had a median debt of $14,844. MIT graduates also benefit from a strong return on investment, with an average starting salary of $126,438 for those entering industry, according to a recent survey.
MIT’s endowment, funded by the generosity of alumni and other supporters, helps sustain these financial aid efforts for current and future students. President Kornbluth noted that the ability to offer such substantial aid reflects the enduring value of MIT’s alumni community, as its endowment is essentially an inter-generational gift.
What MIT families can expect in 2025:
Looking ahead to 2025, families with incomes below $100,000 can expect to pay nothing for the full cost of attendance. For families with incomes between $100,000 and $200,000, the contribution will vary based on a sliding scale, with a maximum expected contribution of around $23,970 for housing, dining, fees, and personal expenses.
This new financial aid structure ensures that MIT remains an affordable option for students from a wide range of financial backgrounds. Even for families earning above $200,000, many still receive need-based aid based on their financial situation. MIT provides online calculators to help families estimate the cost of attendance for their specific circumstances.
This initiative follows a review by MIT’s faculty-led Committee on Undergraduate Admissions and Financial Aid, which is focused on making the Institute as accessible as possible to all students, regardless of financial means. These new steps represent the first outcomes of that review.