Mar 10,2008 00:00
CAMBRIDGE, Mass. -- About 30 percent of students attending the Massachusetts Institute of Technology will have their tuition and fees paid for, the Cambridge, Mass., school said.
Under the new financial aid program for the 2008-09 school year, MIT will cover all tuition charges, the university said in a news release.
In addition, MIT said it will eliminate student loans for non-tuition expenses to students from families earning less than $75,000 a year. Under this provision, for example, eligible students participating in MIT's paid Undergraduate Research Opportunities Program each semester would be able to graduate debt-free.
For families earning less than $100,000, MIT will eliminate home equity in determining financial need, reducing parental contributions by $1,600 on average.
MIT also will reduce student work-study requirements for all financial aid recipients by an additional 10 percent.
"In a pattern MIT has followed for many years, we are increasing funds available for financial aid this year at a far greater rate than the ri
Copyright © 2008, by United Press International. All Rights Reserved.se in tuition," said Daniel Hastings, Undergraduate Education dean.