Financial aid budget to increase more sharply than tuition and fees

Published in: MIT News, March 5, 2010

MIT will raise undergraduate tuition and fees next year by 3.8 percent — among the smallest percentage increases in more than a quarter-century — while also increasing the undergraduate financial aid budget by 6.7 percent.

The moves, which come as MIT is poised to meet its two-year target of reducing its operating budget by around $120 million, mark the 11th consecutive year in which the increase in the Institute’s financial aid budget has greatly outpaced the rise in tuition — a record that underscores MIT’s continued efforts to cushion the impact of price increases on families with need.

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