Financial Aid News - 2011

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  • In his May 24th New York Times article celebrating the tenure of Amherst College president Anthony Marx, David Leonhardt looked at some of the changes in financial aid during Marx’s time at Amherst. One of the themes of the article focuses on meritocracy. At MIT, meritocracy is one of our most important core principles. MIT’s need-blind admissions policy enables us to admit the best and brightest students regardless of their financial situation. Combined with our policy to award all aid based on demonstrated need and to meet each student’s full need, the Institute ensures both access and affordability.

  • The 2012 tuition, fees and financial aid budget announced by MIT last month includes a modest increase to the meal allowance from $4,350 to $4,500. With this increase, the meal allowance matches the projected price of the full 19-meal plan.

  • MIT will increase tuition and fees for next year by 3.9 percent — one of the lowest percentage increases in the last 30 years — while increasing the undergraduate financial aid budget by 5 percent to $91.3 million. This marks the 12th consecutive year that increases to the financial aid budget have outpaced tuition increases, part of the Institute’s continued efforts to cushion the impact of price increases on families with financial need.