The cost of college is a real concern for families across the board. We're determined to make this transformative educational experience available to the most talented students, whatever their financial circumstances, Dr. Kornbluth said.
M.I.T. joins a long list of universities that have reduced their price tags for students from families of limited means. The University of Texas system approved a plan to wipe out tuition and associated costs for undergraduate students from families earning $100,000 or less.
By eliminating tuition and covering all other costs for lower-income families, M.I.T. is set to significantly ease the financial burden on students seeking higher education.
The university has earmarked $167.3 million for need-based financial aid this year to undergraduates, increasing aid by roughly 70 percent from a decade ago.
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