MIT Offers More Aid for Middle Class

Thirty percent of students could benefit.


The Massachusetts Institute of Technology has followed the Ivy League "alms race" and eliminated tuition for families who make less than $75,000 a year, the Tech reports. Students and families in the same income range will also be expected to contribute significantly less than before: $2,850, down from $5,250 last year.

This expansion will affect around 30 percent of the student population and will increase the financial aid budget by $7 million, now totaling $74 million.

The university also announced that, for families with incomes less than $100,000, home equity will no longer be factored in for financial aid packages.