Epic

I am a nerd from a family making under $75,000 a year. I just have to say THIS IS AWESOME!!! Here's hoping they keep the same plan for students entering in 2009.

I confess I'm disappointed. I was hoping that MIT would try to match the financial aid programs of Harvard, Yale, & Brown, etc. It does seem as though there's going to be little help given to the struggling middle classes. Harvard recognizes the difficulty middle class families experience in their efforts to finance college educations -- hence their offer to ask no more than 10% of parental income, up to $180,000. I wish MIT would do the same. It looks, therefore, as if MIT will become an institution of extremes: the needy poor, and the very affluent. I obviously regret the unwillingness of Institute to help the middle class, and I regret the subequent loss of talent that the Institute will experience.
Thank you, in any case, for providing the financial aid update.

Sounds great ! Oh, it is EPIC.

omg awesome!!

Anon, while I certainly respect your disappointment, I cannot say that I agree with your conclusions. I certainly understand that asking a family to pay the cost of an MIT education is daunting, but remember that 38% of MIT scholarship recipients come from families with over $100K in income. I stand ready, along with the other financial aid staff, to work with each and every family to try to find a way to make the cost of an MIT education affordable. I hope that anyone who dreams of attending MIT won't rule us out because of cost.

This is pretty amazing news!!
Thank you for the update!

sweet. this helps me a little, being in the $75 to $100k group. Still not as awesome as Stanford's new plan though...

Sounds great! Though this makes MIT a little more appealing, I guess I'll have to wait and see more if any changes happen in the next couple of years to include the more middle class families. I'll keep checking though until senior year. :)

Wow, yet another case where the upper middle class gets screwed. I live in a place where the cost of living is higher than most other places in the us, and uncontrollable circumstances have caused my family income to drop to less than a third of what it was just 2 or 3 years ago. We are still above the 100k mark, but our income is still going down. On our tax returns, it still looks like we are doing rather well, but we have nowhere near what the tax returns show.

I've wanted to go to MIT for quite some time, but it looks like I may wind up going somewhere with better aid to people in my situation. Or to the University in town.

wow this is great news....although i have a hunch that my family might be one of the "special cases that needs to be examined individually". but whatever, this is still going to help my family a lot!
thanks!

this is pretty amazing. im under 75k... so this means i only have to pay for the approx. 10k for room/board, and then $2850 for the self help requirement? and i have a $2000 scholarship so really only 850 if i use up all of it for one year?

I approve.

Now re-enable online application tracking, please.

Wow, that's amazing news. Thanks a lot Financial Aid people!

I find it disheartening at best that people would take this opportunity to complain that they aren't getting free handouts. MIT's financial aid policy was lauded before; now that it's been improved, it's somehow "screwing the upper middle class"?

I LOVE YOU MIT!

How do you define family? A hypothetical:

Imagine a student whose parents are divorced, the student's father and mother both have very modest annual income but the father has remarried to a very successful nurse who makes well over the income cap. Now the student's father still offers financial support to the student (exceeding $500) but the students stepmother does not contribute to the students education in any way. In a circuitous route one could argue that because of the stepmother's high income the father is able to contribute more than he would be able to were he single. Would the student's stepmother's income negatively impact the student's financial aid?

Ian, in divorced / separated situations our standard response is to look at the birth parents of the student and not to look at step-parents. You may want to review my old entry called "It's Not Apparent who's a Parent."

This is surely good news for science as a whole.
Great MIT!

YAY

Thank you!! This is wonderful news. Financial Aid is of huge importance to my family, since we make WELL under $75,000.

*sigh* so I guess my family is above the line for all that awesomeness. but why am i complaining? my family's not rich, but we have money enough, right? and I'm going to mit no matter what (crazed turkey goblins could not stop me!). and this means now that all the amazing people i was worried about not being able to attend will hopefully have more reason to go ^-^. So thank you MIT. and i still get reduced work-study requirements, right?

What if your family makes roughly only $1500 more in their "total" income (as opposed to a sufficiently low enough gross income) than the free-tuition cut off? Are you completely out of luck as far as free tuition goes?! (Sorry to panic).

Anon: However, you have to take into account that MIT's endowment is much smaller than Harvard/Yale/etc. If their endowment were much larger, I'm sure MIT would have altered their financial aid much more drastically. We middle-class are in a serious pickle, but at least MIT's trying to reach its way towards us.

(Yeah, it's not going to help us whatsoever if we go to MIT, but we have to look at it practically. We can't ask them to completely empty their endowment for all students for the next few years.)

Does anyone know when MIT releases its admission decisions for regular action applicants?

Doesn't this put MIT at a competitive disadvantage for mid-income students vis particularly Stanford, which has its own great engineering program, but also Harvard, which announced that it is pouring alot of money into its SEAS,allows for cross-reg with MIT, and of course has the Harvard brand? Unfortunately, there may be alot of truth to the earlier comment about MIT running the risk of turning into a school of the poor and rich.

2006: Total Income 71k
2007: Total Income 88k

So basically in the end my parents have a net loss of 10k.

Good Job...Good Job... :(

Yeah, is there any news on when decisions will come out?

I see how supportive MIT has tried to be for most students, but Anon's points are valid. As the father of a prefrosh, as well as of three other children, I will be asked to pay "sticker price" for MIT and yet plan for the others too. Nowadays, kids go to school for 6-8 years, not four (grad school included). Loans in the present economic environment are increasingly difficult to obtain. What will MIT do to compete for kids whose parents make well above $100,000/year, but still need assistance like loans, which are less obtainable?

I too was hoping for better news. We are in our mid-50's, don't live extravagant lives, we drive old, paid-for vehicles, and help our elderly parents with some expenses. We don't wear expensive clothes, don't eat out frequently, and vacations usually involve tents. By the time we pay basic living expenses, high gas and utility prices, property and state income taxes, house, car, medical, dental and life insurance, there's not much left. We got lucky, buying a house 15 years ago that has increased in value but is starting to need considerable repairs.
We have already borrowed $100,000, and will have to borrow about that much more before our second child graduates, if MEFA will continue to loan us the money. And the children have their own student loans.
The only year we got any kind of grant or scholarship from MIT was the year the children overlapped.
I'm not complaining, just very disappointed.

This is awesome. Thank you, MIT! Not only are you extremely generous, but you're always so transparent and straightforward and willing to work with your students. Keep it up! =)

I have officially fallen in love with MIT. My Mom was beginning to hint that she wanted me to choose other prestigious universities that shall remain nameless over MIT because of their generous financial aid policies. Now when I get into MIT (wishful thinking) my Mom will have no problem with my decision because we are comfortably under the $75,000 income level.

Thanks you so much MIT Financial Aid Staff for making an awesome education more accessible for me and for everyone who has ever dared to dream.

Re: "I find it disheartening at best that people would take this opportunity to complain that they aren't getting free handouts."

It's extraordinarily disappointing that I won't be able to attend my dream school because my family is trapped halfway between free tuition and having no problem paying the full cost. If I were to attend MIT, I would come out far behind the kids whose families earn less than $75000, since we would have the same assets (an MIT education), and could probably earn about the same starting salary, but I would be tens of thousands of dollars deeper in debt.

I think what "screwing the middle class" means is that the middle class is hurt proportionally more by college costs than the lower class. Colleges look at my family's "assets" and say, "yep, you can afford it," but those assets include my parents' retirement fund, money saved for my younger brother's college education, etc. If my parents were the type to say, "Yes, we'll find a way for you to attend MIT, no matter what," then we could do it-- with a lot of sacrifices. But my parents aren't that type and it really isn't fair of me to ask them to give up their own dreams so I can follow mine.

Well, that's my take on it. I know MIT can't just waive tuition for everyone it accepts, and I understand the reasoning behind the financial aid policy, but still, I can't help but feel very disappointed.

Quite impressive. :-)

MIT is awesome as usual.

This is wonderful! Thank you so much.

Did you see the April issue of Kiplinger's? It lists private colleges in order of best value as measured by both quality and affordability. MIT is ranked 4th. And that's before this announcement came out.

My family is in the under the $75000 range, and even if it wasn't for these new scholarships being offered, I would still have found a way to pay for this school. Those of you not in this range need to start finding ways to pay for your education. There are a ton of scholarships out there, and you can also cut back on some parts of your life to save the money to help pay for school. I know that's what I plan on doing. Every dollar counts and not going on vacation or another event could put a dent in the cost of attending MIT. We all need to realize that they are doing the best they can to lower the cost, but we also have to work for ourselves.

one second...u are STILL reading applications? i thought that must have been done and it was the selection committee meetings now...

Brilliant!

I'm reading financial aid applications... :)

Selection is the admissions process...

ohh..so i guess the admission selection process is ~complete?

It's coincidental that MIT released this information today. I was watching the news, and on NBC, they broadcasted a report about how top universities all over America are beginning this sweeping financial aid reform to help more middle class kids go to college. Bravo to America's educational values.

There is no way to cut the pie so that everyone is happy, or feels they get the best deal. If they gave more help to middle class kids, then there might not be enough for the kids who really need it.

Schools are handling this issue differently, and for many, HPYS are going to be a better deal than MIT. Be glad there are other options. In the end, everyone will get an education, if they want it.

(On a personal note - we would not get aid from MIT, and it is off the table, though it is my son's first choice. He has the option of free tuition an another excellent school. We are very lucky!)

A Mom, Middle class gets "really need it" too.

That should be "Middle class kids 'really need it' too."

the middle class is always screwed. we should be used to it by now...
but it is a good point that anybody could get scholarships if they were really up to it.
which i'm not.
and that's why i'm going to UT!
but i do think your 75K thing is very generous. so thank you for making a lot of people very happy.

thank you so much sir,
i have no words to say thanks.

I love MIT!

Wow, thats really awesome. Even though I fall under the $100,000+ bracket, I know my family will still have severe trouble paying for MIT. I'm glad people in my situation still get looked at!

Woot! I LOVE YOU MIT! Now...to worry about admission...

=D

So, just to clarify, a family's total annual income includes Social Security benefits from a deceased parent, correct?

This is such a great news! Well worth waiting the week for if I can say that :) MIT is just doing a better job every day, and such consideration for students, internationals and domestic alike, is really very very great.....

Kudos to all you guys at MIT!!! :)

Too little, too late. My father should accept a pay cut from his current job to just under $75,000. The money saved by having $30,000 tuition paid off tax-free will make us better off than his original six-figure salary.

Mr. Barkowitz, you may criticize those who post empirical evidence on the MIT Admissions blogs for making things personal -- however, please realize that financial aid is indeed very personal. I could care less about the statistics about the percentages of students being helped -- I am not one of them, and to be honest, to my bank account and wallet, that's the only thing that matters.

You cannot argue with the fact that other top-tier universities have better financial aid plans than MIT at this point.

Current '11-

though I sympathize with the selfish viewpoint, I can't help but wonder why you did not choose to attend one of the "other top-tier universities" if you felt you could not afford this one without the apparently severe discomfort that you have shown here.

Because Harvard only changed their aid package this year?

Last March, when I was picking schools, my decision was not based on financial aid since I received no aid from any school. However, this past year, that has clearly changed.

Damn, i regret not applying to other top schools. Im sorry mit, but i can't pay this much and will turn down any eventual offer.

Thats really neat!!! Now all I need is an acceptance. MIT pleaaaassseeee!!!

Someonez actually sorry to be paying for an MIT education......God help the person!

MIT always makes me feeling touched ;)
Not many universities treat domestic students and international students truly equally

I really wish that I can go to MIT some day, regardless of whether I am an undergraduate or graduate student

i must say its really sad that people put the factor of having to pay something over an MIT education. i mean seriousl. God help u chaps. anyways they are trying to do something for every1 arent they? and if u think ur getting a better offer elsewhere who's stopping u? go.. stop badmouthing the sfs dept. at least they offer you some aid!

I'm one of the parents with $100,000+.
I'm just grateful that my kid is studying at MIT despite the fact that we have to pay the full tuition.
Come to think of it, not many families have an income of $100,000+.
I am glad that MIT is doing their best to help the kids who need it most.

@Ying Wei: I completely agree and its really great that they dont distinguish at all :)

I feel kinda left out int this whole debate... My family earns less than $10,000 per annum... So I guess I have other things to bother about...

hi guys!
I personally feel that MIT has been very generous!Since MIT does not distinguish between domestic and international applicants,it actually nurtures talent from all over the world and thus it has the most talented and powerful bunch of students the world can imagine.These students can therefore make a real difference not only to america but to humanity as a whole.If some good earners feel bad they arent getting a bigger share of the pie that is only because they havent yet seen what poverty is.They should visit a few third world countries to know the extent to which students go to gain knowledge.I know of people who sacrifice their food to buy books!!!It is only justice that they get some relief and an actual chance to dream fo the first time in their life,ever!!!!!!Thanks a lot MIT!!!!Way to go and keep up the good work!!!!!!!!!

Everyone should have to pay something to go to college, I believe Harvard has the right formula, 10%. It is never easy to cut back and ante-up, but clearly MIT feels it easier for those in the middle class. Of course it is, when we sell the house, or live in a smaller city with less costs, MIT should consider looking at more fixed costs like Natural gas/oil in the North if they are going to go past FAFSA as their measure.

@ Jennifer
All the tons of scholarships are almost exclusively for low-income students. We are talking about a sticker price of almost $50,000 for a middle class student. We have forgot about family vacation for years; we have cut back every thing from our daily life; we are seeking loans after loans to pay for going MIT; we need to also forget about grad school because of the student loans.... Jennifer, you don't know what you are talking about, believe me.

"There are a ton of scholarships out there, and you can also cut back on some parts of your life to save the money to help pay for school. I know that's what I plan on doing. Every dollar counts and not going on vacation or another event could put a dent in the cost of attending MIT." LOL

Is this true? True with Stanford BUT NOT WITH MIT

"....and on NBC, they broadcasted a report about how top universities all over America are beginning this sweeping financial aid reform to help more middle class kids go to college." PRETTY IRONICAL

Our family is in the middle class, not-eligible-for-any-MIT-aid (but would definitely qualify for Harvard/Brown/Yale aid). We received no aid for our child last year, and are therefore $50,000 poorer than we were this time last year. So, would it be possible to answer the following questions, please?
1. Is there any point whatsoever in bothering to apply again, this year, for financial aid?
2. Does MIT have statistics regarding how successful their students have been in transfering to Harvard/Brown/Yale after their freshman year? Although our child is extremely happy at MIT, had we realized the financial difference in attending MIT v. other top tier colleges (who would have provided aid), I'm afraid we would have pitched more strongly for those institutions who are more friendly to the middle classes.
Thank you for your patience in responding to all these posts!

@Lulu

You are rightfully CRUEL! With an excellent camara at hand to play with, you don't need to worry about money like the other middle class students like me.

@E

Truly, if you can, go to other school. I insisted to follow my heart to MIT a year ago, but now I am regretful that I have put that much financial burden on my middle class parents and myself. The money pressure is so imminent, true and cruel. A year ago I was as ignorant about the money pressure. I did not think clearly about the differences between "thousand" and "ten thousands". I though the sticker price of $48,000 was not much different from $4,800 because I never really see that much an amount put in fornt of my eyes. I did not know how hard my parents would need to work and save every penny for even just $1,000 from their income every quarter besides mortgage, car installments, gas, utility, food and clothing us....I thought if there is a will, there is a way even regarding money matter. Now I know I have got myself into big trouble. I hope I can graduate MIT in another 2 years to save the cost, go ahead to work to pay back the debts, and I don't know what next.... Bill Gates does not have a PhD degree (well, an honored PhD degree from Harvard), and I think I can live without a PhD though most of my low income peers at MIT now will have a carefree plan to go to grad school after the 4 years' of free ride and my peers from rich families will for sure go to grad school if they want to. Well, I need to face this fact years later... Don't take me wrong. I am not saying MIT is a bad school. MIT is quite good, but I really know now I can learn as much at other schools too. I have got excellent grades from all the 12 subjects I have taken and are taking at MIT so far, I have tested out 5 subjects at MIT too. If I can study by myself this much at MIT, I know I can do that at Stanford too. I realy regret that I turned down Stanford and UC Berkely last year.

Everyone should try to calm down. For those who are not going to get any aid, you also may not be admitted so you may be worried about nothing. This is life and thats why you should never put all your eggs in one basket. If you have only relied on MIT and did not plan by applying to other schools that may be more affordable for you than it is your poor planning and not MIT's. I hope those of you that are complaining have applied to other schools within your families budget.
To those who are being critical towards MIT and threatening not to accept a spot that you may not even have in the first place, you are opening up more room and opportunity for those who are anxiously awaiting admission. By the way, if admitted we will have to pay full tilt and happy to do so. This is not coming from someone who will benefit from this plan financially. However we will benefit from getting an excellent education from MIT that is well worth paying for.

1. Sorry, I thought 75k was right around the figure that "middle-class" families made.. ? What's this new accepted figure that typifies middle-class families?
2. I can't even imagine what would possess someone to claim that middle-class families are "being screwed" by MIT's commitment to helping its students pay for college. I'm sorry that MIT isn't as affordable for middle-class families as it is for families that have trouble affording everyday life. I really wish people would stop and think about how fortunate they are before they start complaining about having to choose between MIT and Harvard or MIT and Yale (aka one incredible institution and one incredible and slightly more affordable institution).
3. I think I've said this before: if you're willing to nickel-and-dime a school until they throw as much money at you as you'd prefer, then it's probably not the place for you and you'll be happier at some other place that's cheaper. Anonymous, if it were really your dream school, I think you could find a way (that doesn't include complaining anonymously on a web blog?) to make it work. I happened to luck out as far as financial aid is concerned, but as naive as it sounds, I would move mountains and work 3 jobs and EVERY summer if it meant I could go to my dream school. Period.

:D Thanks, MIT SFS!

Please answer the question in the previous if time and circumstances allows.Thank You!

I meant in your previous post. Sorry for double posting.

Shamarah,

Interesting question as to what defines middle-income. It all depends on who you ask. According to the US Census Bureau's 2006 study (see their report on income, poverty and health insurance in America) median household income in 2006 was $48,201. Family households had a median income of $59,894. Median income by state is here.

Of course, we realize that all families, both those above and below median income, can have trouble writing a check to pay the cost of an MIT education. That's why our total financial aid policy has no articifial cut off on income. Anyone who feels that they need assistance can (and should) apply for financial aid.

Libin, we don't track scholarship expenditures by country of origin so I cannot easily determine the amount and number of scholarships for students from India. I'll see what I can come up with, but I don't know when I'll be able to run it as we are in the middle of Freshmen processing.

MIT11, your financial situation will not impact whether you can get a PhD -- PhD programs are fully funded, so you do not have to pay anything to get a PhD, and you will be given a small living stipend.

Your federal loans will also be deferred while you are in graduate school, giving you a chance to pay them back with low or no interest.

But the non-federal loans he and his parents have taken out will be due upon graduation, and in fact are accruing interest while he is in school.
Grad school may be out, not because he would have to pay for it, but because he will need to forgo grad school to work and pay back his undergrad loans.

What impact will this new decision have on the admissions process as far as deadlines? Will it push back the announcement date so packages can now be finalized? Since admissions is need blind, does the financial aid office put together a package for everyone who is now eligible, or just "admits", which would mean that they know who the admitted students are by now.

PS. I am not Daniel B's dad, rather of a prospective student.

Okay. I'm a junior in high school. My family makes in between 75 and 100 thousand. I understand our benefits. My dad plans to retire in three years, placing me right in the middle of undergraduate studies. When he retires, family income will fall below the 75,000 mark. Does my financial aid package improve to allow me to go tuition-free junior and senior years, or am I locked into the 75-100 thousand aid package?

We have a simultaneous process which means that we review files as Admissions decisions are being finalized. Also consider that we have been working on these enhancements for quite a while. With that said, the timing of the release of the decision about financial aid policy should have no effect on the timing of Admissions decisions

I see a lot of people talking about how a MIT is "screwing the upper middle class." I hadn't thought about it before, because as soon as I read this policy I was ecstatic because I would not have to pay any tuition. I promised my mom that I would not go anywhere that expected her to pay too much more than what a public in state school would expect her to pay. I also have thought through this a lot and decided that an MIT education is truly an investment. Any grad school or employer would compete for an MIT graduate. So I decided if I got accepted to MIT and they expected my mother to pay a substantial amount more than UT, I was willing to go in to debt for the opportunity of such an excellent education. I can see how when comparing the plan to the Stanford initiative, some students would be dissapointed. Personally I think an MIT education is worth whatever debt I would have to get in. The other promise I made my mom was that for every dollar she invests in my education, I will invest in her retirement. I really don't mind because the sacrifice she is making will give me a better life. Maybe some struggling middle class parents should consider this alternative?

First, I want to say congratulations to everyone that this plan benefits. Regardless of whether or not this effects the middle class, there are still many other people that this benefits, and I understand that sometimes it is hard to spread finacial aid around evenly while still keeping it effective. Personally this plan does not help my family at all, but my parents have lived within their means for longer than I've been alive, and we will be able to pay for a college education (hopefully at MIT, but if not, somewhere else). It will certainly be a huge expenditure, but as long as nothing sudden and catastrophic happens in the next 6 years (for me and my sibling to get through school) we will come out safely on the other side. Some things are worth spending money on, and I think that 4 years at a college of my dreams is one of them.

Hurry up admissions team.

I have received a likely-letter from an Ivy and now the warm fuzzies are taking over my brain. I compare it to Obama taking over one-time unbeatable Clinton.

MIT is still my first choice, but its loosing ground.

I vote for March 15 as decision day.

What bothers me is that many schools don't announce their aid policies untill now. I didn't want to apply to a lot of schools where I knew I wouldn't get aid, so I narrowed it down to two and hoped for the best. I now find out that I would have gotten aid at some of the schools I didn't apply to, because of their new policies. The two I did choose to apply to still won't give me much aid. This whole process would be easier and less stressful if we knew the aid policy before we applied. I'm sure some very worthy students didn't apply to MIT, because they thought they wouldn't get much help, and now are regretting the decision.

First i have to say how brilliant this thing is for me and my friends from my country who applied, because all of us have much lower income than 75k$ That why if they decide to admit anyone of us, we can go... If it wasn't for this financial aid, or the equality of international and domestic students, neither of us could go if we got in. (Sad reality is that your parents cannot afford more than approx 2000$ when their income is 20k...)

MIT thank you very much, for offering a chance to poorer foreign kids of studying on a college that will value their abilities.

For all of the middle class kids, thank you for not being so selfish. I mean, my parents have a sad income when compared with yours. Yet they have still agreed to give me 2500$.. If you have a four times bigger income maybe you should pay four times more. Maybe you should pay eight times more. And even then, your parents will have bigger income than mine.

So what are we talking about?

I'm not saying that your parents should give up their vacations so you could go to college or something (I for once could never ask my parents for that, because they kill themselves over the year, and they deserve it), but maybe a vacation that doesn't cost as much as your college tuition would be nice. Or you know that perfect whatever that you payed dollars... You don't really have to have it! ;)

So think about it.. Either you want to go to MIT, but give a little, or you don't go to MIT, have more money, buuuuuuuuuuuut...... are you satisfied with you choice of school? If yes then, you didn't really want to go to MIT anyway.. If no then, what's more expensive your nerves or money?

Good luck everyone :)

Does MIT review financial need for all applicants, or does admissions clue them in on likely candidates to focus on? I know admissions is need-blind, but just wonder if financial aid tries to maximize their efforts by only reviewing applicants that are going to be offered admission. Doing this wouldn't skew admissions decisions since financial aid would not provide any info back to admissions. Just curious.

Me too! I was deferred from MIT EA and have also received a likely from an IVY. They want me to come visit and check out their sports team, but MIT is still my first choice... I also vote for March 15th!

I understand why so many people between 75K and 100K are upset, but MIT is doing the right thing by making things easier for the kids under 75K. Going through life in America with a yearly income less than 75K is not easy. Those kids have had to sacrifice a lot more and work a lot harder to get where they are than the upper middle class kids. MIT is doing the right thing by trying to level the playing ground. It really frustrates me to see people complaining about poor kids getting more than they will from their colleges, but just think about it for a second... those kids will not be getting spending money from their parents, they will not get plane tickets home every month... MIT is just leveling things out.

Thank you for taking out time amidst all the Freshman Selection procedures.

Let's divide $48,800 sticker price for a middle class student going to MIT today by 8 months. It is good $6,100 a month that the sticker price payer's parents and/or the student are to pay each school year month. My father takes home $5,500 after tax every month averagely. He has house payment/rental to pay, he has a wife and other 2 children to feed, he has the fixed gasoline fee, utility bills and I don't know exactly whar else to pay... I guess for the eight months while I am sitting in the MIT classrooms learning, my family has to go without a house to live in, without food on the table, no electricity, water,..... I am not talking about "no family vacation, no eating out, no recreations"; I am talking about no way to live on like a human being for middle class family like mine. In this sense we are much much poorer than a $100,0000- family. Everything is geared toward helping low income students, starting from free summer camps back at high school, outside scholarship, government Pell grant, free ride of MIT education, no need to take up a loan.....

MIT, why don't you open your eyes and your hears for the middle class families like Harvard, Yale, Stanford do? They even consider $200,000 families' true situation. Caltech does much much better and more for middle class students than MIT too. Who can say Caltech is any inferior than MIT?

"Everything is geared toward helping low income students, starting from free summer camps back at high school, outside scholarship, government Pell grant, free ride of MIT education, no need to take up a loan....."
Have you ever thought of how much poor kids have to do to get those benefits? First off, their families have a hard time doing the basics like feeding and clothing them (Have you ever had to go grocery shopping at a food shelf or wear used donated clothes? I have for several years.) Those kids also do not get the perks of going on vacations or visiting their schools because their parents have to work 52 weeks a year. When they do get a "handout" they have to work for it. I bet you never had to write several essays and get teacher recs and what not just to go to camp or on a school trip.
This is really aggravating that people don't seem to realize how privileged they are.

@MIT'11
No one is getting a free ride to MIT. Those with families getting under $75,000 get free tuition, but if I remember correctly that is only about half of the cost of attending MIT. Many of these students will still struggle to pay for room and board. And MIT does consider everyones family situation. You chose this school to go to and now MIT has made it a little easier for you by lowering the expected student contrubution. You should be happy about this. Many students can't go to MIT because they can't afford it at all. You chose to go there and now must deal with the cost. Let those of us who now can potentially attend our dream school be happy about it and please stop putting down the school because they are trying as hard as they can.

@Anonymous
Thanks for the point. I completly agree.

Any word on the decisions date?

Nobody knows the decision date yet. Ben tends to announce the date (via blogs) the Monday before decisions come out. For both RA in 2007 (class of 2011) and EA in 2007 (class of 2012), decisions came out on a Saturday at noon. Maybe he will announce the decision date this Monday! :) Good luck everybody!

Daniel,

My family brings in close to $200,000 a year, but my father told me I will only have $100,000 for college. I don't know the whole situation--I know our family's got medical problems, etc., etc.--but either way, my financial situation is extremely limited, which is not at all recognizable on the financial aid sheets. I don't know how to prove this to anyone, either--he just tells me that I've got that much, and after that, loans. The problem is that this puts me in the category where I technically don't need financial aid, but if admitted I'll be graduating with something along the lines of $75,000-$100,000 in debt. What can a student like me do? Thanks!

Remember that your financial aid package might change from year to year. We've saved about $80,000 for my daughter's education, and that's on income of about $120,000 per year. Our FAFSA shows EFC of $55k for year one so that means we get nothing, but once we burn through that $80,000 I'm hoping that year three and four we'll qualify for some assistance (at MIT or wherever she winds up going).

Will, financial aid offices will take medical or other situations into account. After receiving the financial aid package you can contact them and provide details. Packages can be adjusted.

Good luck!

@ Anonymous and Jennifer,

I am from Middle calss family. There are something you don't know about middle class family life style like my family's. I wear handout or hand-me-down clothes and sometime shoes from neighbors and relatives. My family largely collects all knids of coupons for food, for essential clothings to cut our expense. I don't wear Nike. I wear whatever Walmart has on their shelves. I don't get to go to summer camps because we can not afford them and we can not get scholarship to attend them either. Instead I babysit in summer to earn some money. I don't go to movies. I don't go to field trips or choir tours with school. Why? Every extra penny imposes an unnecessary burden to my father. He is the only breadmaker in my family. I wrote tons and tons of essays and applications for scholarship, but I seldom get any because I am a middle class student. Here at MIT, I save every penny from food and everything. Rice to me is more economical than pasta or noodle. Cabbage is a lot cheaper than apples. Do you know what I am talking about? If you get a lot of financial aids, Pell grants, free tuition. You will never know what I am experiencing. I don't go out to take T or bus. They require a fair. I walk. I anxciously search for lowest possible airflight tickets and even delayed to go home for Christmas for a cheaper fair. You can not possibly understand what I am through, a middle class student at MIT with 2 very bright younger siblings going to college not too long from now.

$75,000- students don't need to pay room and board either at MIT and they get the book fee and flight fees paid by MIT.

@Will

Have you applied to Stanford, Harvard or Caltech? They offer much better financial package.

@WTBS Alumni

It is not necessarily MIT will look into your situation in the third or fourth year. Please personally check or talk with them before you get too optomistic.

MIT '11,

As they say in that old musical, "It ain't necessarily so". Families with less than $75,000 won't necessarily have all of those costs covered, but they might. It depends on their eligibility. They will get tuition covered by scholarships (if they have typical assets), but you can't jump to the conclusion you've made.

Also, MIT '11, I know you have posted several times expressing your concern about your aid package. Why don't you schedule an appointment with me so I can review your financial aid award with you and look at what options you and your family have? Or just email me your contact information (name and ID) and I can look up your award and do a quick review and communicate via email with you.

Anonymous,

We ABSOLUTELY review each financial aid applicant every year, and if a family shows additional need in a later year (or has a change in circumstances even during an academic year) take that into account. WTBS Alumni should apply each year and should express the concern about the funds running out in the application itself.

You all should consider re-reading (or reading) my old posts on how we determine your family contribution since much of these posts is still applicable. You can find them in the archives at this blog or at my original blog here.

Our family is in the middle class, not-eligible-for-any-MIT-aid (but would definitely qualify for Harvard/Brown/Yale aid). We received no aid for our child last year, and are therefore $50,000 poorer than we were this time last year. So, would it be possible to answer the following questions, please?
1. Is there any point whatsoever in bothering to apply again, this year, for financial aid?
2. Does MIT have statistics regarding how successful their students have been in transfering to Harvard/Brown/Yale after their freshman year? Although our child is extremely happy at MIT, had we realized the financial difference in attending MIT v. other top tier colleges (who would have provided aid), I'm afraid we would have pitched more strongly for those institutions who are more friendly to the middle classes.
Thank you for your patience in responding to all these posts!

MIT 11-

I know it's all relative and a little hard to take on faith, having really just experienced the one way of life our parents have given us, but differences in income really makes a huge impact on quality of life. Every income bracket will complain about scrounging for cash- hell, you hear about millionaires who can't pay their bills all the time- but this is largely because of a shift in the baseline quality of life. My parents used to make ~50k combined and now they make about 90k, and day-to-day things never feel too different, the coupons, the hand-me-downs, yeah, i know all that. But now we live in a house and no one in my family has ever owned a house before- the expenses are far greater, but it's a natural upgrade you take with an increase in income, what really kills you is that there's no road the other way. At least there's no dignified way to downgrade your standards of living. It's something parents never even think about doing to put their kid through college. When I applied to college I made every preparation to strip my choices down to only the schools we can afford. This meant RPI (on 60k scholarship), this meant state schools, Rice (on 100k) all that. I came to MIT because I loved the school, but also because it offered me the best financial aid package. But that's just me. I think I can make the best of any education. I have friends here who are taking out 20k a year in loans to go to MIT simply because they believe this is the only place for them. And I totally respect that. They're making it work, and yes, they're applying and planning to go to graduate school right out of college. Most loans can be deferred until after graduate school. Having heavy debt hanging over your head until you're 30 it's certainly not ideal, but if you believe it is worth it, you can definitely make it work. Though I don't recommend it, certainly. I agree, I think it's pretty clear and agreed upon all over that the middle class really gets a raw deal for financial aid, but I think unless the higher education system undergoes a monumental reform, the colleges are doing their best, and so must we do our best to make things work for us. This includes considering financial safeties and the whole lot. We can't simply choose a school on some blind faith that somewhere down the line they will change their financial aid policies to include us. You say you got into Harvard first time around? Well, I think that'll make it easier for you to transfer if you are ultimately unhappy with your financial aid situation here (of course I hope you take Daniel up on his offer of assistance). You're an adult now. It's a weird transition to make but it's time to take your life into your own hands and really fix the things that are wrong in your world. Complaining is a teenager's weapon.

I'm not really sure how to respond to your comment about my camera. Your parents are clearly very frugal and don't believe in wasted expenses, but my parents on my 16th birthday decided to feed a passion of mine at about $400 expense, and I've been ever grateful to them about that. But I don't doubt that your parents are very different from mine, in the financial sense sector, anyways.

Wow, beautifully said Lulu :). I believe that I will be like some of your friends. I will have to take out loans and be in debt, but from what I can tell, going to MIT will be well worth it to me. It might not be for some people, but personally, no amount of money could stop me from wanting to go to MIT. Thank you, MIT Staff, for all you do for us hopefuls and the current student body!

To all those who think middle and upper middle class family made it easy, just think about $50k out of pocket money after the TAX. Which equevlant to $75k!!!!

IMO, in general middle, upper middle class family wuz robbered in kids' college education. Just think about that the tuition part any college give out as FA are tax free for both side. Which makes a

To all those who think middle and upper middle class family made it easy, just think about $50k out of pocket money after the TAX. Which equevlant to $75k!!!!

IMO, in general middle, upper middle class family wuz robbered in kids' college education. Just think about that the tuition part any college give out as FA are tax free for both side. Which makes a

Sorry, somehow my post got cut shot. here is another half. hope this time get through.

Just think about that the tuition part any college give out as FA are tax free for both side. Which makes a

Just think about that the tuition part any college give out as FA are tax free for both side. Which makes a

@Sad Parent

Your "$50,000 dollar poorer" comment would indicate you think of your child's education as an expense and not as a prudent investment in your child's future. I will give your student the benefit of the doubt and bet he/she looks at it as an investment opportunity with a tremendous upside potential.

Our family carefully weighed all offers and decided that MIT was the best fit for our daughter, now a freshman. If you are admitted to MIT, you will have some choices to make. Sit down and talk with your family about what you can realistically afford. The bottom line is that any student admitted to MIT will also be admitted to many other places, sometimes with wonderful scholarship money. Think carefully about how much you could raise through merit scholarships and work. Because our daughter really, really wanted to go to MIT, we asked her to apply for at least a dozen scholarships and to work while a student. This year, the combination of scholarship money and work has reduced the tuition by around $14,000. I strongly recommend that family members have a frank conversation about the admissions decision, a decision that will be the first life-changing decision the child has to make. Don't come to MIT if it will crush your family financially or burden you with loans in excess of $80,000. You could go to another school for your undergraduate study and come to MIT for graduate school. Make the best choice for your own situation.

Mr. Barkowitz,

Could you share with us what percentage ofthe MIT u/g students get zero percent fin aid (excluding non-subsidized stafford loan)?

I was just wondering, what is the general range of the "typical assets" of a family under $75,000? (since the FAQ answer essentially defined "typical" for me)

We are just curious –
Daniel, would you mind to explain the reason and logic why MIT decided not to make paying for education everyone’s responsibility? If you make little, you pay little, if you make less, you pay less, if you make more, you pay more, if you make huge, you pay huge… Why does it have to be either all or nothing?
We were a $35,000 family when our child was a 5-year-old, as we both were students ourselves. We then started from entry-level, worked extremely hard throughout all these years, just to realize we are now one of the caught-in-the-middle families, :). When we were only making $35,000 and lived in a small and dark rental apartment in an expensive northeastern city, we managed to set aside $50-$100/month for our child’s education – summer camps, extra curriculum, etc. We always believe paying our child’s education is our responsibility regardless of how much we make. We would be more than happy to pay, say, $500 or $800 or $1000 for our child’s education or get a loan, if we had a child who was going to MIT at that time. We are surely happy to pay our child’s tuition at MIT now, even though we don’t get any break, but we can’t help to wonder… Wouldn’t that approach also help our children to understand the value of education and they should own up the responsibility of their children’s education in the future?

Dear "A Parent":

This may be the time to introduce you to a great page on our web site entitled "MITGO". Depending on how you define the question, I can answer it any of multiple ways. These statistics are a little out of date (based on 2006-07 data) but 90% of MIT students received aid from any source and of any type (Federal, Institutional, State, Private and Loan, Job, and Grant). 71% received grants from any source. 65% received aid based on financial need (scholarship, loan and job). And 59% of students received aid in the form of MIT scholarships. Again, keep in mind this data is for 2006-07. We are still in 2007-08, so that data won't be out for a while.

Curious, what you are describing is exactly how the aid process works at MIT. Remember that we have families of all incomes applying and receiving aid. There is no "magic" cut-off for eligibility.

I would urge all of you to read my posts above through this comment section. MIT does provide aid up and down the income ladder.

This new aid package won't benefit me even a little bit if I were to be admitted, but I think it's an amazing step.

I do think low-income families deserve more aid than others, and I'm sure many fellow middle-incomers will agree with me. However, the reason why so many of us are upset/disappointed is... just because low-income families deserve "more aid" doesn't mean middle-income family deserve "no aid."

We're not asking for free tuition or anything as monumental as what MIT has done for those of low-income (we aren't that optimistic). We just wish that MIT had changed some of its financial policy towards the middle-class. It doesn't have to be the equivalent of Harvard or Yale, but anything is better than nothing.

We just don't understand why - after all the reports, statistics, studies, and personal experiences showing that it's the middle-class that's hurt the most financially during college - we are asked to pay the full sticker-price. When colleges provide amazing and mountainous aid toward low-income families but provide nothing for middle-class, it feels like we're being ignored. We think MIT is doing a great thing, but can you guys understand why many of us "complainers" have a bitter taste in our mouths and on our fingertips?

(An attempt to explain some of the feelings of middle-income families)

What is the MIT policy for families making just above the $100K line?

A family who makes $100K only has about $60K left after pay roll tax and income tax. MIT tuition and living expenses is $48K the current year. This is tough!

Let me try to say this again!

Families making incomes above $100,000 may still qualify for financial aid, sometimes significant financial aid.

Again, I would urge those of you who have concerns about affordability to apply.

Our financial aid policy is not full tuition or nothing. We have many families who qualify for financial aid at all income levels. Take a look at the Grassley and Baucus response for some examples.

IMO one of the better aspects of the Harvard program was the elimination of home "equity" from the financial aid computation. Previously the assumption was that parents should take out home equity loans to finance their kids education and many have. Now that we are in the middle of a mortgage crisis we are belatedly realizing that home equity is not the piggy bank many thought. Home prices have declined and many were hurt. Does MIT have any plans to eliminate home "equity" from the financial aid decision?

Parent, one aspect of the decision was exactly that, but only for families with total incomes of $100,000 and below.

THANKS MIT. THIS IS WHAT I WISHED FOR (APART FROM GETTING IN!!!! NOW ACCEPT ME, PLEEEEEEEEEEEEAAAAAAAAAAAAAASSSSSSSEEEEEEE

I think it's nice to establish that I am not user MIT '11 in this thread.

It is important to realize that nobody is trashing MIT's decision to give more aid. More aid is great. I am pretty tired (and bitter) of reading posts from students (prospectives '12s, even!) blindly praising MIT SFS and putting down those of us who are complaining that the new financial aid policy is not enough.

Prospectives, stop sucking up. It won't help you get in and it's not good karma. Seriously.

That being said, as Daniel has made very clear, financial aid packages are awarded on a case-by-case basis, and that's why I should get back to 6.01 (signal processing is pretty cool especially since i'm learning it the first time) and leave this thread to the karma-grubbing prospective '12s.

Mr. Barkowitz,

I feel like you're really sincere when you make these decisions and try to just keep a level head and do the right thing.

The only thing I find to be a bit of a political stunt is the elimination of the loan expectation for people making

For me, I can't complain. I can empathize with the rich people clamoring for aid but the solution is to cut wasteful spending at MIT to lower costs not to waste millions of dollars subsidizing rich people.

Thank you for posting the updated financial aid information - I know that my mom will be very happy to see it.

As the first-born child of a middle-class family, I had always assumed that I was going to have to take out significant loans if I intended on going to anything other than a state school. I'm unsure about how these new financial aid policies will affect my family (I'm not really sure what our income is, but I'm pretty sure it's over $75k) but I'm hopeful that I won't have to graduate $100k in debt. I am extremely grateful that MIT has the potential to be one of my more affordable options, and I too am eagerly awaiting admissions decisions!

My economics teacher always stresses that everything in life is a choice. I'm going to have to make a choice about how much debt I'm willing to take on in exchange for an education, and I would hope that the rest of the prospective students are planning on doing the same thing. Hopefully MIT won't put me between a rock and a hard place :)

Would you please provide transfer statistics/chances -- from MIT to comparable schools that offer more reasonable aid to middle class families (i.e. Stanford/Caltech/H/Y/Brown)?
We value our child's undergraduate education, but we'd also like to have some money left for post-graduate options, and it would be pleasant to be able to retire with just a few savings left in the bank. As it is right now, MIT plans on taking every cent saved.
Had the current financial aid offerings been available last year at comparable institutions (to which our child was accepted) I would not be writing this right now....

@Current'11 :"Prospectives, stop sucking up. It won't help you get in and it's not good karma. Seriously."

First, I believe all of us have our right to post comments. Besides, it is foolish and un-MIT though to think that praising the new policy will help us getting in.

Second, many big name universities that many of you mentioned which "offers better packages than MIT" are not admitting international students on need-blind basis. Besides, many big name schools, do not provide reasonable financial aid package for international students.

Third, To a family which earns USD 30000 per year with half of the annual income used to pay house loan, this financial scheme really sounds GOOD. It even seems "TOO GOOD TO BE TRUE". Spare some thought for low-income families please.
Not every family have the abilitiy to complain about the financial aid package. To middle income families, financial aid package is a case of lose-more-or-lose-less, but to low income families, financial aid package is a factor determining our choice of college.

Thank you MIT for being need-blind to Internationals. It's wonderful to know that, while other universities are helping the middle classes in America, you are willing to give your aid to us, instead of them. After all, those middle class students can go to other universities in America, whereas we have you!
MIT is so great (now please accept me).

You know, I would have loved to attend MiT, and in about 6 days, I'll hopefully know wether or not I get the chance.

But one also needs to consider how much debt a student is willing to take on him-/herself and look at other options. I come from a high middle class family which makes about 275 000 USD before taxes a year. That being said, living in this country (yes, I'm one of 'em "internationals" you might have heared about) is very expensive. For instance, we use a good 70 000 $/year just on food.

That being said, it isn't any exlusive food or something that costs a lot of money. Put it simple, in my country, everything is expensive. I have an offer to pay $50 (that is fifty us dollars per semester) and go to a state school which cooperates with MiT. Students who attend that program don't even apply - they just jump on a plane and go to the US.

Therefore, I honestly can't say wether or not I will be accepting any freshman admission offer from MiT. But it is really exciting!

Hello Mr. Barkowitz, I have a somewhat unrelated question...

Would there ever be compelling reason to waive the noncustodial parent's contribution? What if there is documented evidence of a psychological disorder (one symptom of which is rash spending of money)? Or is it necessary to show abuse...? Is it pretty much impossible to do this if a noncustodial parent is still paying child support? Even if the above cases of mental disorder + abuse are met, Plus there is documented of history of this parent refusing to pay educational expenses?

Also, at Anonymous above, lol, so only internationals and low-income students should be able to go to MIT at an affordable price, since the middle class can always go to other schools?!? I'm not criticizing MIT's policy, as I do not really understand what happens for incomes above $100,000 but that is sorely wrong thinking. Other schools are NOT the same as MIT, and MIT, for its own sake, should definitely try to make MIT affordable for all who are accepted (for, who knows in what income bracket the next world leader(s) will lay?).

But I could potentially be screwed no matter where I go, if my dad decides he's not paying/he "can't pay"/"doesn't have the money", seeing as he makes twice what my mom does (with just my mom's income, we'd probably qualify for this initiative, or come really close, but including his, we're probably going to be full-pay. Which means HE will be expected to pay most of tuition... and I'm not convinced he is able to do that... hence my questions above)

I have a question. My family falls into the 100,000 + category, but our EFC was far below MIT's tuition. How is the EFC fit into the new plan?

Also, thanks to MIT for helping out a lot of students who really need it!

@Ying Wei (ya i am a prospective too so what)
Be aware the fact that:
1) Even MIT provide need blind addmittion to internationals it is limited at certain % of international students they take to cut the burget under control.
2) Even $30k anual counted as a 'low income' family in US. But in China (and most of other developing countries), $30k anual income goes to a looooooooooooooooooooong way even in big cities like Shanhai and Peijing.
3) It is very different to track the family assets for an international student. Especialy some of Asia countries where income tax law just established recently. And there is no compliance law to follow.

We have seen here some international students live in Mansion with stay home mom, go to private prep school while dad in Asia make 'huge money' (even by US standard). Their reported EFC=0 got free ride to some top universities.

While I cheer for all universities who extends more FA to low income family (more cheer to HYPS who extends FA to middle and upper-middle classs as well). ... I can't help feeling sorry for middle and upper-middle class families with responsible parents (like curious and myselv) who put education above every thing to saving up for kids college, only to find out now if you DID NOT save up, and/or one of parents quit job and stay home help kids prepare for college you are now qualifying for FA every where in need based FA schools. ... But the resposible ones shall dig deep into their retirement saving. By end the one works full life and saving will live the same retirment life as the one who chose not to work.

Wow, that's an amazing financial aid program.

Just a coupe of points:

-MIT has a much smaller endowment per student than some of these other top schools.

-There is no guarantee that any one student is actually going to gain admittance to one of the schools with 'better" aid packages.

-Grants are given to MIT families in the middle class range, it's just done on a case by case basis.

-The average starting salaries for MIT graduates is significantly higher than in a lot of smaller colleges offering free/low cost programs.

-Middle income families who are satisfied with the aid they received from MIT are a lot less likely to be on these blogs.

It seems like the best thing to do would be to apply, and see what kind of aid package you get if you are admitted. Assuming MIT doesn't care about middle income families and won't package you decently at this point is premature. It's also not a good idea to assume a better deal is out there somewhere waiting for you. Wouldn't you have to at least see where you are accepted and what they offer first?

In any case, I hope everyone has a good weekend.

Here's a partially unrelated question. How much more advantageous is an MIT physics BS degree over a Harvard physics BS degree? Do both have equal chances to gain entrance to MIT grad school?

Mr. Barkowitz, I know you said that you'd be interested to hear my opinion on the new financial aid policy. I'll discuss these with you in more depth later, but seeing the debates here on the blog, I figured I'd throw in my two cents worth.

Needless to say, as a student from an income of greater than $100K, I'm disappointed by the new policy. Particularly since my grant from MIT was about one semester's tuition. My family does not make twice as much as these students yet we are being asked to pay, proportionately, a much higher amount. However, I have not yet submitted my FAFSA for this year. If, as I am hoping, this new policy does indeed mean that other students will receive something of a difference on their financial aid estimates, then I can accept this policy. If, however, my offer for next year is identical to last year...this is where we reach a problem. I fail to understand why some students would become more deserving of aid while others would not receive any additional assistance.

I would also say that I find it naive for the students who are benefiting from this new policy to accept it totally without question. The middle class families aren't upset because you're receiving assistance; the upset is because they are not getting any additional help. Please don't believe that anyone thinks you don't need financial assistance. I would ask that you try to be open and actually listen to what is being said; understand that students who are upset about the financial aid policy are struggling right now, event to afford the bare essentials of living. Perhaps you can relate, if you come from a low income family, to the stresses and pressures that come from not having enough money and being unsure as to whether or not you can pay the bills. Understand that this is the position that many students find themselves in, and that many students will continue to find themselves in, even as you work your way through MIT on a full-tuition scholarship. Have empathy; don't just blindly accept the new policy because it benefits you.

That being said, I'm hoping that once my FAFSA is submitted I can see something of an improvement in my own case.

To MIT '11 (and other concerned students):
As Mr. Barkowitz said, he is available for students to contact him and is very willing to work with you on your case. I struggled last semester because of confusion in the financial aid department - I was shuttled from counselor to counselor and nothing was ever done. However, I met with Mr. Barkowitz last week and found that he is extremely personable and very caring about individuals and their situations. He is going to be working with me on my case and I have no doubt that he would be willing to work with you on yours.

This is a huge controversy and will probably continue to be. I still have problems with the financial aid policies and I still believe there are many things that can be corrected. However, for the first time this year, I've found that dealing with financial aid can help, and I now believe that I maybe be able to complete MIT with a (semi) reasonable amount of loan debt.

I have expected a little more than $1600, to be honest, given the recent financial aid packages from harvard, princeton and stanford. I do not understand the gap between 75000k and 76000k,

75000 - all tuition covered equivalent of ~30 000.
76000 - same as now (I expect around 15000$, since this is how much I am paying with slightly lower income)

I have expected a little more than $1600, to be honest, given the recent financial aid packages from harvard, princeton and stanford. I do not understand the gap between 75000k and 76000k,

75000 - all tuition covered equivalent of ~30 000.
76000 - same as now-1600$? (I expect around 15000$, since this is how much I am paying with slightly lower income), this gives some 12 000 less money for a person earning one thousand more. I do not understand this cut-off system.

So, it's a nice Sunday evening. Not much happening this weekend, huh? (smiles)

So, I missed most of today working on my drama program at the Temple where I belong (I'm directing a musical - more on that later) and I am just sitting down to the computer to try to get some more files read, but first to try to answer some of your questions. I am not sure how many of you have read the 136 (yikes!) comments that have come above, but I know that I have.

There have been a lot of misconceptions expressed and a lot of very important and valuable feedback. As I have said before, I am not a Pollyana, so I don't mind critical feedback. I just want honest, truthful and respectful dialogue and a chance to make things right when they go wrong.

Let me again try to state this in a clear a manner as I can: MANY families with more than 100,000 in income will still qualify for financial aid, even under our new policy. And some of these families may still receive enough scholarship and grant support that their tuition is covered. Our new financial aid policy does not undo any of the great financial aid programs we have had in the past... it only enhances them.

That said, do I think that every family will be happy with their financial aid award? No. But I can safely say that last year not everyone was happy with their financial aid decision either. What do you do if you have a decision you are not happy with? The first thing to do is to contact us and explain why you think we didn't understand your financial circumstances. We will try to work with you to see if we missed something in our original review, and to see if there are grounds for an appeal of your award. Did every family leave the appeal process happy? Again, I think the answer is probably no. But I hope that every family came out of the process feeling that their concerns were understood, listened to, and that MIT and their financial aid officer did everything we could to assist them in determining a way to make the financing of an MIT education a reality.

Now a note for our current students (and their parents): Some of you have asked for information about transfer rates from MIT to other institutions. First, I don't have that information. I do know that many institutions like MIT have a very small transfer admit pool (most of their spaces are reserved for incoming Freshmen students), and I would urge you not to give up the chance of your MIT education without carefully considering your options. You chose to attend MIT for a particular reason - maybe it was because you've always felt that the MIT culture was a perfect match for you, maybe it was your commitment to making the world a better place, your passion for taking things apart and rebuilding them, your desire to finally be at a place where people like you are the norm. Whatever your reason, that reason hasn't disappeared. Might the finances be different? Sure. Might the fiscal realities have changed? Yes. But does that mean your initial decision was the wrong one? I’m sure not.

Also remember, YOU HAVE NOT RECEIVED YOUR AID YET for next year. When you accepted the offer of admission, presumably you had a financial aid award in hand. Our commitment to you at that time was that assuming nothing in your personal circumstances changed, our financial aid award would not change (of course if your circumstances worsened, we would listen and respond). Well, our commitment has not changed. In fact, for all of you, we have improved your aid award (by removing at minimum $500 per year of what you otherwise would have had to borrow or earn during the term). We will still review your financial aid application each year, and will make any adjustments we can to assist. We also pledge to listen to your concerns and work with you individually.

Has the environment changed? Yes. Has the value of your MIT experience changed? No.

I am very excited about the financial aid enhancements we have made this year. I think for all financial aid recipients these changes are a very positive step. I look forward to speaking with families through the admission and renewal process.

And once again, I thank you for a respectful and open dialogue. But I have now said all I can on this topic. I need to move on to make sure that all of the financial aid decisions we can ready are part of the admissions mailing next weekend. So feel free to soldier on here without me, but I will be busy reading files...

I LOVE MIT. THANK YOU FOR CHANGING MY LIFE!!!!!!

This truly is Epic.

Now all I have to do is...be accepted lol.

Does anyone know if the financial aid package will be available when we see our decision online should we be accepted? Do we have to wait for the snail mail?

Anyone who doesn't understand that this policy benefits everyone probably isn't good enough at math to attend MIT anyway. Anyone who expects college to be completely free is probably too mentally imbalanced to handle the stress anyway. MIT has always attracted students of all income levels, and it always will.

When will financial aid packages be available and how are they sent--mymit or snail mail? Thanks.

Edward:
Of course MIT has always attracted students of all income levels, and of course it will continue to do so. However, with other top tier universities offering more attractive financial aid packages to the middle classes, it would definitely be naive to think that MIT will continue to attract and to "net" the same caliber middle class students as it has in the past. In an increasingly competitive market place, Harvard, Yale and Brown will definitely lure the children of increasingly strapped middle class families. Doubtless this is a scenario MIT has considered, and it has made its priority the funding of internationals and low income students at the expense of the middle and upper middle classes. No crime in that -- but to say that their decision won't affect middle class yield is to underestimate the financial exigencies facing many middle class families.

Count me as another one in the disenfranchised middle. I am a continuing MIT undergraduate, and though my parents make a good bit more than $100K, we are certainly not nearly so wealthy so that paying for the education (and that of my sibling, who is also in a private college). Both my sibling and I have taken out all of the student loans available to us every year. My parents have taken out parent loans every year. We do not live extravagantly. It would be nice to have so much family money as to be able just to write checks for the costs without thinking about it, but that is far from our situation. While there are certainly families and students with less ability to pay something than what we are able to pay, and I really am happy for them that MIT has extended offers in their direction, that absolutely does not mean that because a family makes more than some specific level, whether $75K, $100K, 150K, or whatever that they are automatically able to pay everything or nearly everything!

Even for students from families at the lowest end of the income scale will, presumably, get reasonable jobs after MIT and be nearly as able as any other student to pay back some student loans. When then should they have zero when I have a full load of them?

Much fairer is the Harvard plan to cap family college contributions at 10% of income. It seems reasonable that once you make $500K/year, paynig the full tuition should not even be a question. But having two students in private colleges, even with a family income of $200K, is impossible to float without significant loans or retirement savings drawdown, which should not be an expectation.

MIT should not be surprised at the significant number of its graduates that do not later donate back to the school. It takes a very long time to forget that one got almost no financial help from the school and had to pay back loans for fifteen years! Or maybe some of us will never forget ...

Al right.
I went thru al the comments and couldn't find an answer to my question. Maybe somebody could just answer me short:
My parents gain before taxes and everything 102,000$, but then there are a little less than 20,000$ taxes. So my parents income isn't that much higher than 100,000$.

Do I fall in the category of students which families earn less or more than 100,000$?

(Sorry to bother you with personel problems and I realized, too, that I might not even be accepted. But funny as it is, worrying about financial aid brings Saturday closer and closer :o). )

Mr. Daniel Barkowitz -

Is the $75,000 marker a hard and set line, or is it slightly adjustable, taking into account other factors? I have not been accepted (deferred Early Action), so I don't know if it even matters to me, but this is my situation:

My parents are divorced. My mother makes about $90,000 per year, putting me well above the $75,000 line. However: My father has been mostly unemployed for the last 10 years. I have a twin brother, so my family will have two students going through college at the exact same time. We have three mortgages.

For these reasons, it is completely unfeasible for me to pay anywhere near the full cost of an MIT education. Is it a great education? Yes. Is it my number one choice? Yes. Can I come even close to affording it? No.

To add on to my previous comment:

The reason I ask about this specifically and not aid in general is because all the financial aid calculators I have tried so far give me an EFC of about $17,000 (which means that * 2 for my brother, my family is expected to pay $34,000 per year + loans that we will need to pay back eventually)

Really, unless the $75,000 line is a bit flexible or my aid package surprises me greatly and all the aid calculators have been off, I can't afford MIT.

I think a few people are missing the point here. The $75k or $100k milestones doesn't mean this is an "all or nothing" scenario. Work with your financial aid officer - if your income is close, you don't have to worry. There will be no cliff-effect. Just because a family that makes less than $75k gets a grant guaranteed to cover tuition does NOT mean families with income over $75k have to pay full tuition! It's a tiered system, and families even over $100k depending on the financial situation may STILL get a significant portion of their tuition covered by grants. This policy also reduces the self-help contribution for everyone - which means more grant eligibility. Wait for your aid packages, you'll see. Don't panic yet - this policy is trying to help not hurt.

For those that are accepted for class of 2012 - please visit SFS during Campus Preview Weekend and speak with a financial aid officer regarding your particular situation.

Focus on the data - the improved Financial Aid budget represents less than 1% (.008222) of the endowment.

once again.....
eM aI Tee is LOVE!!!! :):):)

forgot to enter my name in the above entry...
just lost in deep thoughts of MIT... hehe

This is very helpful for me, my parents annual income is just below 60k and our efc from FAFSA is a ridiculous 23k. They factored in a house bought in 1987 that has since tripled in value. The cost of taking a loan on that and the taxes on the house would make my father's impending retirement impossible. I was worried that my college choices would be limited due to cost, thanks to this, however, I have one less thing to worry about. Now... about getting admitted... :D

Thanks for the update guys! Hope to see yuo next year.

@enewts... yeah you are right... i see the little glitch too...
to be eligible for the aid we have to get accepted first...lols

haha >. I have a sailing regatta on Saturday so i fully expect to be sitting on my friends iPhone during my off rotation. Ill be on a beach in Santa Barbara CA in full sailing attire (swimsuit, hopefully not foul weather gear) when i read my decision. how many people can say that? :D

enewts have a sailing regatta on Saturday so he fully expects to be sitting on his friends iPhone during his off rotation. he'll be on a beach in Santa Barbara CA in full sailing attire (swimsuit, hopefully not foul weather gear) when I read MY decision.... haha said it!!!:)

enewts has a sailing regatta on Saturday so he fully expects to be sitting on his friends iPhone during his off rotation. he'll be on a beach in Santa Barbara CA in full sailing attire (swimsuit, hopefully not foul weather gear) when I read MY decision.... haha said it!!!:)

oops sorry the 'anonymous' post was accidentally posted by me..

Mr. Barkowitz--
We were ectstatic to read this news. My thanks to you and the team at MIT who have crafted the new policies.

I also heartily appreciate the fact that you actually take the time to respond to the many comments, both charitable and not-so, that people post here. It's totally unmatched on other college websites. A big "attaboy!" to you.