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Undergraduates with family income below $200k will be tuition-free at MIT

(news.mit.edu)
581 points gnabgib | 1 comments | 20 Nov 24 16:59 UTC | HN request time: 0.001s | source
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bko ◴[20 Nov 24 18:22 UTC] No.42196722[source]▶
MIT is a great financial investment. There is financing already available (federal and private) so presumably if someone wanted to go they likely could. They may leave with debt however.

The median salary of an MIT graduate is 120k and the median debt is 12k, and less for lower income families (2023-2024):

$0 - $30,000 family income: $6,866

$30,001 - $75,000 family income: $9,132

$75,000+ family income: $12,500

Bumping this up to families making $200k seems really unnecessary and helps people that don't really need to help.

https://sfs.mit.edu/undergraduate-students/the-cost-of-atten...

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1. rahimnathwani ◴[20 Nov 24 18:37 UTC] No.42196848[source]▶

  MIT is a great financial investment.
How do we know that is true? Among folks whom MIT would accept, do we know whether those who choose to attend MIT get a greater return on their investment (of time and money) compared to those who choose to not apply or not attend?

  families making $200k seems really unnecessary and helps people that don't really need to help
There are certainly families earning $200k who need help. $200k income for a family of 5 in San Francisco is different from $200k income for a family of 3 in rural Idaho.