The Massachusetts Institute of Technology (MIT) announced Wednesday it would be waiving tuition for students from families that make less than $200,000 a year.
The waived tuition will begin fall 2025, and families making less than $100,000 will have all costs waived, including housing, dining and textbook fees.
“MIT’s distinctive model of education — intense, demanding, and rooted in science and engineering — has profound practical value to our students and to society,” school President Sally Kornbluth said.
“The cost of college is a real concern for families across the board,” Kornbluth added, “and we’re determined to make this transformative educational experience available to the most talented students, whatever their financial circumstances. So, to every student out there who dreams of coming to MIT: Don’t let concerns about cost stand in your way.”
MIT is already one of only nine schools that does not consider a student’s ability to pay in the admissions process.
The sticker price for MIT is more than $62,000, but last year the university said the annual cost paid by an undergraduate receiving financial aid was $12,938.
“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.”
