Undergraduates with family income below $200,000 can expect to attend MIT tuition-free starting next fall, thanks to newly expanded financial aid. Eighty percent of American households meet this income threshold.

Newly expanded financial aid will cover tuition costs for admitted students from 80 percent of U.S. families.

  • Flocklesscrow@lemm.eeEnglish
    237·
    13 hours ago

    They’ve got a $24.6 Billion endowment; the tuition costs are negligible. This is basically a marketing ploy.

    • ⓝⓞ🅞🅝🅔@lemmy.ca
      131·
      12 hours ago

      Still incredible, I think. Consider all the resources of various institutions and corporations which are not used in such a way. If only more did similar.

      • Flocklesscrow@lemm.eeEnglish
        4·
        12 hours ago

        Uh, yeah. That’s what marketing is. Where do you think undergrads will be trying to go now? If a top student had to pick between CalTech, MIT, and Harvard, and MIT is tuition free, it’s a no brainer.

        I’m not saying it’s bad, I’m just pointing out the masturbatory nature of MIT’s announcement given their endowment and the peanuts it will cost them.

        • thatKamGuy
          3·
          5 hours ago

          If it ends up having a significant enough impact on enrolments, it could well force the other institutions to implement similar policies.

      • Luvs2Spuj@lemmy.world
        11·
        3 hours ago

        It’s peanuts to them, so they should just carry on charging people. Better still would be to charge an amount that isn’t peanuts to them.