[4470] in Discussion of MIT-community interests
Re: [Mit-talk] MIT to be tuition-free for families earning less
daemon@ATHENA.MIT.EDU (Katherine Sniffen)
Fri Mar 7 23:49:02 2008
To: Erica H Peterson <astronut@mit.edu>
From: Katherine Sniffen <katallen@evenmere.org>
Date: Fri, 07 Mar 2008 22:27:39 -0500
In-Reply-To: <Pine.LNX.4.64L.0803072202290.14816@how-about-a-nice-game-of-chess.mit.edu>
(Erica H. Peterson's message of "Fri\,
7 Mar 2008 22\:03\:30 -0500 \(EST\)")
Cc: mit-talk@mit.edu
Errors-To: mit-talk-bounces@mit.edu
I also got mail from Beth Garvin (less readable than this copy,
though, since it was HTML-formatted).
As for the content, it's almost like progress---except that they still
suffer under the delusion that families, not students, pay for school.
-Kat
Erica H Peterson <astronut@mit.edu> writes:
> Well I can't speak for current students, but I got alumni mail from "Beth
> Garvin HM" (alumvp@alum.mit.edu) with this information this afternoon.
>
> Cheers,
> Erica
>
> On Fri, 7 Mar 2008, John Hawkinson wrote:
>
>> Why is there no email in my mailbox?
>>
>> http://web.mit.edu/newsoffice/2008/tuition-0307.html
>>
>> Attached here in full.
>>
>> --jhawk
>>
>> MIT to be tuition-free for families earning
>> less than $75,000 a year
>>
>> Nearly 30 percent of MIT students to have all
>> tuition charges covered
>>
>> March 7, 2008
>>
>> The Massachusetts Institute of Technology
>> (MIT) today announced its financial aid
>> program for 2008-2009. Increases in financial
>> aid will make it possible for a larger
>> fraction of MIT students to have their
>> tuition and fees completely covered.
>>
>> Under the new plan, which will take effect in
>> the 2008-2009 academic year:
>>
>> * Families earning less than $75,000 a year
>> will have all tuition covered. For
>> parents with total annual income below
>> $75,000 and typical assets, MIT will
>> ensure that all tuition charges are
>> covered with an MIT scholarship, federal
>> and state grants, and/or outside
>> scholarship funds. Nearly 30 percent of
>> MIT students fall into this tuition-free
>> category.
>> * For families earning less than $75,000 a
>> year, MIT will eliminate the student loan
>> expectation. MIT will no longer expect
>> students from families with total annual
>> income below $75,000 and typical assets
>> to take out loans to cover expenses
>> beyond tuition. Under this provision, for
>> example, students in this income group
>> who participate in MIT's paid
>> Undergraduate Research Opportunities
>> Program (UROP) each semester would be
>> able to graduate debt-free.
>> * For families earning less than $100,000,
>> MIT will eliminate home equity in
>> determining their need. In determining
>> the ability to pay for college, MIT will
>> no longer consider home equity for
>> families with total annual income below
>> $100,000 and typical assets. On average,
>> this will reduce parental contributions
>> by $1,600. For families who rent, rather
>> than own a home, MIT will provide a
>> comparable reduction in the expected
>> parental contribution. TOOLS
>> * MIT will reduce student work-study
>> requirements for all financial aid printer Print version
>> recipients. During the past decade, MIT
>> has steadily lowered the amount it e-mail E-mail article:
>> expects students to provide through Use the form below to
>> news term-time work. MIT will take a further e-mail a link to this
>> step in this direction by reducing the article.
>> recent work-study expectation for all financial
>> research aid recipients by an additional 10 To [e-mail addresse
>> campus by percent. (s)]:
>> topic [ ]
>> events The Institute has a long tradition of opening
>> archives its doors to talented students from a full From (your name):
>> in the range of economic backgrounds. For more than [ ]
>> news four decades, MIT has made its undergraduate
>> financial aid decisions by following a (your e-mail address):
>> subscribe three-part financial aid philosophy. "First, [ ]
>> we are need-blind in admissions, meaning that
>> podcasts we admit all undergraduates on the basis of Personal message to
>> e-news academic merit alone, without considering recipient
>> tech talk their ability to pay," said Dean for (optional)
>> news Undergraduate Education Daniel Hastings. [ ]
>> releases "Second, MIT meets the full demonstrated [ ]
>> rss feeds financial need of all students we admit. [ ]
>> Third, we award all our aid based on need [ ]
>> services alone; MIT does not award any academic,
>> athletic or other forms of merit The MIT News Office
>> request scholarships." does not store this
>> images information.
>> submit Total financial aid budget is one of the
>> news highest per enrolled student in the nation. To send, click "E-mail
>> promote Building on this commitment, MIT will article" below.
>> news media increase its financial aid budget to $74
>> inquiries million. MIT's total financial aid budget is [email-artic]
>> one of the highest per enrolled student in
>> about us the nation. Sixty percent of MIT add RSS RSS feeds
>> undergraduates receive scholarship aid from
>> news the Institute's internal resources. Fully 90
>> office percent of MIT undergraduates receive RELATED
>> info MIT financial aid of some kind, from a range of
>> background sources. While MIT focuses assistance on Letter to the
>> contact those with fewer resources, it also provides Community on Financial
>> MIT home aid to families with incomes well above Aid and the Endowment
>> $100,000 who demonstrate need--for example, - February 29, 2008
>> because they have more than one child in
>> college at a time. In fact, approximately 38 More: Administration
>> percent of our current MIT scholarship
>> recipients come from families earning more More: Students
>> than $100,000.
>>
>> Tuition and fees for the upcoming academic
>> year will increase 4 percent to $36,390;
>> however, this figure represents less than
>> half of what it costs MIT to educate an
>> undergraduate. As Hastings noted, "In a
>> pattern MIT has followed for many years, we
>> are increasing funds available for financial
>> aid this year at a far greater rate than the
>> rise in tuition." During the past decade, the
>> net tuition for undergraduates--what students
>> and families pay after financial aid--has, on
>> average, dropped by more than 15 percent when
>> adjusted for inflation.
>>
>> "For those receiving an MIT scholarship,
>> which is six out of every 10 MIT
>> undergraduates, net tuition is $8,100--an
>> amount that approximates the in-state cost of
>> many public universities," Hastings added.
>>
>> Tradition of ensuring access and
>> affordability for those who need it most.
>> MIT has long taken an aggressive position on
>> aid because its students demonstrate a much
>> higher level of need than students at peer
>> institutions. More than 22 percent of MIT
>> undergraduates come from families with annual
>> incomes less than $60,000 a year; 17 percent
>> come from families with incomes under
>> $45,000.
>>
>> Two years ago, the Institute took a
>> leadership role in the national debate on
>> financial aid when it became the first
>> private university to match Federal Pell
>> Grants, dollar for dollar, effectively
>> doubling this federal grant for the neediest
>> students. Approximately 14 percent of MIT
>> undergraduates receive a Pell Grant, the
>> largest federal grant program for
>> undergraduate education.
>>
>> "We will continue our longstanding financial
>> commitment to students and their families in
>> the years ahead," Hastings stated. "That we
>> can welcome to our campus such extraordinary
>> students, regardless of their economic
>> background, is due to our historic dedication
>> to need-based financial aid."
>>
>> news office 77 massachusetts avenue 617-253-2700 rss feed icon rss
>> MIT home room 11-400 cambridge, ma 02139-4307 newsoffice@mit.edu feeds
>> podcast icon podcast
>> counter
>>
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