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Massachusetts Institute of Technology
For students with family income below $75,000, after the family covers any EFC, the college covers the entire remaining student budget with work study, and grant aid equal to at least the cost of tuition. The work amount is reduced for Pell-eligible students.| For students with family incomes below $75,000. . . | 2009-10 Estimated Student Budget | ||||||||||
| After family covers any EFC, the college assures enough work study and grant aid to cover these expenses |
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Total Expenses: $51,728
For all other students, after the family covers any EFC and the student takes loans and/or work study totaling $4,750, the college covers the entire remaining student budget with grant aid. The loan-work amount is reduced for Pell-eligible students.
| For all other students. . . | 2009-10 Estimated Student Budget | ||||||||||
| After family covers any EFC, and the students takes loans and/or work study totaling $4,750, the college assures enough grant aid to cover these expenses. |
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Total Expenses: $51,728
About the Financial Aid Pledge (2009-10):
How is EFC determined and used?
Institutional Methodology. A minimum student contribution of $1,900 is expected from freshmen, $2,200 from sophomores, $2,500 from juniors, and $2,800 from seniors.
Institutional Methodology. A minimum student contribution of $1,900 is expected from freshmen, $2,200 from sophomores, $2,500 from juniors, and $2,800 from seniors.
How much academic year work and/or need-based loans are included?
For students with family incomes below $75,000, $2,850 in work. For all other students, $4,750 is expected from some combination of work and loans. Pell Grant recipients have these amounts reduced by the amount of their Pell Grants.
For students with family incomes below $75,000, $2,850 in work. For all other students, $4,750 is expected from some combination of work and loans. Pell Grant recipients have these amounts reduced by the amount of their Pell Grants.
Does the offer account for the full student budget?
Yes.
Yes.
How are outside scholarships handled?
Outside scholarships, including Pell grants, reduce the loan/work burden, then the student contribution, before reducing institutional grant aid.
Outside scholarships, including Pell grants, reduce the loan/work burden, then the student contribution, before reducing institutional grant aid.
About the Institution (2007-08):
Location: Cambridge, MAType: Private 4-year
Undergraduate enrollment: 4,238
Pell Grant recipients (a measure of low-income enrollment): 14%
Proportion of graduating seniors with student debt: 49%
Average debt: $14,148
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