MIT to cover full tuition for undergrads from households making below $200,000

Starting next fall, tuition will be free for MIT undergraduates whose families make less than $200,000 a year, the school announced Wednesday. The change reflects a broadening of MIT’s existing tuition-free program that currently has an annual income ceiling of $140,000.

For students from households making below $100,000 a year, MIT will cover all college-related expenses including tuition, housing, dining plus an allowance for books and personal expenses. That’s up from the current eligibility ceiling of $75,000 a year.

MIT officials hope these changes remove the sticker shock associated with higher education that can deter eligible students from applying.

“Many families are concerned about the cost of college,” said Stu Schmill, MIT’s dean of admissions and student financial services. “We really wanted to send a message that coming to school at MIT is affordable and that cost should not stand in the way of a student applying.”

The price of attending college in the United States has more than doubled in the last 25 years. On average, families pay almost $40,000 a year to send their kids to 4-year institutions, a cost which includes room and board, books and other expenses. Though students can apply for financial aid, the process can be confusing — and in some cases, hold students back from applying, according to researchers.

MIT said in a news release it’s supporting its tuition-free program through its endowment, and has set aside roughly $167 million this year to support aid for undergraduates. MIT noted that 80 percent of US households earn less than $200,000 a year.

Pre-financial aid, the total cost of attendance at MIT is about $86,000, including fees and expenses, though most students who receive aid pay a median annual cost of $12,938, according to the school.

“Paying for college generally for middle class families is not easy,” Schmill said. "We want to make it easier.”

Other Massachusetts colleges have made similar moves in recent days. Brandeis University announced Tuesday it will cover full tuition for students whose families earn up to $75,000, starting next fall. University of Massachusetts’ campuses announced last month they will provide free tuition for students whose families earn up to $75,000. The College of the Holy Cross in Worcester recently expanded its free-tuition program to include families whose income is below $100,000 a year.