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MIT staff blogger Matt McGann '00

Financial aid news & more by Matt McGann '00

MIT announces costs & aid for the 2007-2008 school year.

A press release yesterday from MIT announced costs & financial aid for the 2007-2008 school year. Here are some details:

MIT has set tuition and fees for 2007-2008 and has budgeted an additional $7 million for financial aid enhancements, bringing its total undergraduate financial aid budget to $68 million, President Susan Hockfield announced.

“The world needs the kind of leaders and thinkers who graduate from MIT. By finding innovative ways to enhance our strong, entirely need-based financial aid program, we are ensuring that an MIT undergraduate education is affordable to all of our admitted students, without regard to their economic circumstances,” Hockfield said.

Tuition and fees for the upcoming academic year will increase 4.1 percent to $34,986, while undergraduate financial aid will increase 11.7 percent.

Daniel Hastings, dean for undergraduate education, noted that the Institute has steadily increased financial aid over the past eight years. “Our commitment to making MIT affordable for all who qualify for admission has been unfaltering. This year, as in seven previous years, MIT has increased funds available for financial aid by a factor greater than the increase in tuition. The result: The net price an average student or family pays for an undergraduate MIT education has actually dropped,” Hastings said.

Overall, the average MIT scholarship is more than $28,000, supported by endowed funds, gifts from alumni and general Institute funds. Sixty-four percent of undergraduates qualify for need-based financial aid. In 2006-2007, 23 percent of undergraduates pay no tuition, thanks to the Institute’s financial aid program, Hockfield noted.

Earlier today, I had a chance to (briefly) visit the kind folks in our Financial Aid Office, who, even as I write, are busily working on your financial aid packages. I’m not sure which office is busier right now, Admissions or Financial Aid. Regardless, if you haven’t completed your financial aid application, please don’t delay! (more instructions on appling for financial aid)

As you may have read on our website, we plan to release regular action admissions decisions online on Saturday, March 17 (tentative; more details to come soon). We also plan (tentatively) to send out via postal mail both admissions decisions and financial aid packages the day before: Friday, March 16. So, regular action admits (who sent in all of their financial aid materials in a timely manner) should receive their financial aid packages with their admissions decision. Early action admits (who sent in all of their financial aid materials in a timely manner) will be mailed their packages at the same time.

We’re busily working towards admitting the Class of 2011! More news as the date draws nearer…

100 responses to “Financial aid news & more”

  1. Stefen says:

    I’m am so excited

  2. theresa says:

    for some reason, that made me smile (the thought of getting a “package”) :D

    hope no one gets a paper cut! :D

  3. Solomon says:

    Increasing finaid so that people from third world countries like me can benefit is great.

  4. Sarab says:

    Hate to sidetrack the topic, but a friend of mine just got an answer from Priceton. He’s a nice guy, and his grades are good, and I really do feel happy for him, but hell, when I said that I hoped I got into MIT, his answer was, well if you filled the reccomendations yourself, you’d have a better chance. Now, I’ve been brought up as a good kid (Unfortuantley, I know feel!). I don’t cheat in tests and I refused to fill out the forms myself even though my teachers told me that they wouldn’t mind it.
    It seems to mean that the eleventh commandment is true, “Thou must not get caught.” Anything else will do.

  5. Amjad says:

    I created a group on facebook for MIT 07 applicants. its name is “MIT 07 Applicants”.
    go take a look at it.
    Join it. it’ll be fun
    here:
    http://www.facebook.com/group.php?gid=2250308853

  6. Karin says:

    ::sigh:: I have a track meet on the 17th, and I have to make the decision whether to check before or after I compete.

  7. Tara says:

    Sarab,

    I know how you feel when it comes to honesty. Honesty is the best policy by which to live. Although your friend was accepted into Princeton, and although he/she may never be “caught”, it will catch up to that person in the long run. Honesty will always pay off. Just give it time =). Good luck to you with admissions as we all anxiously wait!!!

  8. Elizabeth says:

    my band trip that was going to go until 3 AM Friday the 16th was canceled. I’m bummed because now I’ll be up all night like I was December 8th.

  9. Susan Virgem says:

    Great news know that the budget for undergraduate financial aid increased. This shows how MIT wants to give opportunities to all students, regardless their economic circumstances.
    Congratulations!

  10. Anonymous says:

    when is mit admit weekend?

  11. Anonymous says:

    or when is mit prefrosh weekend?

  12. Dan Herbert says:

    If I get accepted, and via such a wonderful education find myself exceedingly wealthy, I’m donating to the financial aid fund like crazy. Great schools shouldn’t be held for rich. Thank you, MIT!

  13. Scott says:

    It is sad that such a great school like MIT will increase their cost to get more money, but then for good PR they will also increase the financial aid, so they can say that they “are ensuring that an MIT undergraduate education is affordable to all of our admitted students, without regard to their economic circumstances,” But what about the people that technically are higher income like me but live in a much more expensive area (the East San Francisco Bay Area suburbs) than places like South Dakota and the south.

    A Monopoly using Price Discrimination at its best!!!
    Sorry, your PR stunt didn’t work on me.

    But heck, when you are the best school in the world you can do what ever you want because people like me will still go no matter what.

  14. Anthony Vila says:

    This is really great to hear that MIT strives to make their education affordable to everyone who is admitted. I come from a middle class family, and just by looking at the financial aid page of the MIT website I can say that the amount a student has to pay for MIT is actually less than many state schools that I have applied to. So, thank you MIT!

  15. Anonymous says:

    whats that stuff

  16. Sarab says:

    Thanks, Tara, will continue wallowing in self pity for the night and will wake up in the morning like nothing’s happened. wink

  17. Sarab says:

    Oh yeah and good luck to you too. Note to self; Remember manners!

  18. Jonathan says:

    Scott: I must say that I agree with you. MIT has these awful ideas that say, “help the poor, screw the rich” or “help the minority, screw the majority”.

    My income is $17,000/year (under the poverty line), and even I find this really unfair.

    I have a friend who was born into a rich family but really doesn’t want to put up with the costs of MIT. Why? This person knows that his parents will basically use the fact that they payed for his education later when they want something out of him; basically, blackmail with a twist. He doesn’t want this, so he’s going to a public school instead.

    Actually, I know a lot of people like this, and I feel sorry for them because even though they got into MIT, they won’t be able to go because MIT keeps pulling this kind of bullshit. I absolutely hate this attitude. It’s pure discrimination.

  19. Snively says:

    $34,986? Come on, tack on another 14 dollars! You guys kinda remind me of a gas station in that sense: 2.519 dollars per gallon, just add the tenth of a cent, lol. No offense, I kinda enjoy the humor, I’ll go fritter away my fourteen dollars on something amazingly cool, like my $15 dollar parking ticket I got for parking in a visitor’s spot at school.

    Glad to hear, also, that financial aid went up! The more people who decide to go to MIT due to generous financial aid the better, nobody should have to turn down MIT because of lack of funding. w00t Barkowitz!

  20. Tiks says:

    Hey, my Fin. aid tracking page got crazy!!!:( It was indicating last 3 weeks that my International Aid Application form has been received,BUT now I see there written the opposite thing:(.
    What should I do?
    Am I supposed to send it again?

  21. Snively says:

    Jonathan and Scott should apply somewhere other than MIT. Look, if you’re unhappy with the premier technical institute in the world charging a lot to provide a stellar education, don’t pay for it, go somewhere else. The way I see it, MIT can charge whatever they feel like, their goal is not to impress you. Their goal is to earn money to continue to fund their amazing school. That being said, they’re being very nice by providing financial aid to anybody who applies for it, they don’t have to!

    If you want a cheaper education, don’t apply to the best school in the world, honestly. Oh, and definitely don’t complain about it using your first names on blog comments the week before admissions decisions, that’s a no no wink

  22. Karin says:

    I hate how they ticket you for parking in the wrong place at school. Where else are you supposed to park? =P

  23. anon says:

    I can definitely empathize with Jonathan. Tuition is going up 4%, but my parents’ income is only going up 2%. Moreover, as smack-in-the-middle members of the middle class, who have tried to save a bit for college, it doesn’t look as though I’ll get any financial aid. That leaves me with not particularly attractive options: opt for my first choice (MIT) and wipe out my parents savings, or accept offer of merit aid at a less desirable institution. The rich are always OK, and the “poor” are going to be looked after… but the middle class… well, yep, they get….

  24. Anonymous says:

    I think there is problem with fin. aid database. Last night it was showing my fin. aid application as recieved, now, it is showing is has “not received”?????????????/

  25. Hey! I’ve got the SAME problem with my fin aid application..! Yesterday it indicated “received”, today it shows “not received”! What am I supposed to believe?

  26. dale says:

    To the people who are complaining about the tuition. It’s called inflation doooods.

  27. Parent of EA says:

    As a middle-class parent, I have to admit that we’re feeling the pinch. I do think it’s wonderful that MIT provides assistance to students whose families absolutely could not afford it. But to be frank, to afford what will probably become a $200,000 education for our first child and to still afford a college education for our younger child, we’ll have to dig into retirement savings. What makes it tough is receiving endless letters from U.C. Berkeley’s school of engineering, UCLA, etc., offering numerous merit scholarships. I wish MIT would at least honor her National Merit scholarship, but coming to MIT will mean letting even that go. It’s a tough decision.

  28. Tiks says:

    Guys, I think Fin. aid office has lost all the documents:-p!

  29. Jack says:

    Hey Matt. I checked MyMIT and found my Financial Aid Application form missing!! It must be lost IN the office since I mailed it with other materials which they had received…I have no idea if it is too late to send the form again. FAX or Express? I have tried to email to the FA office twice this week but no reply at all!

  30. Jack says:

    Hey Matt. I checked MyMIT and found my Financial Aid Application form missing!! It must be lost IN the office since I mailed it with other materials which they had received…I have no idea if it is too late to send the form again. FAX or Express? I have tried to email to the FA office twice this week but no reply at all!

  31. Jack says:

    That must be the explanation. What are we supposed to do? Fax or mail the form again? OMG…crazy things…

  32. Hey guys! The finaid office replied to my email and they told me:

    “There is a glitch with the MyMIT portal today – a fix is being worked on. We do have all of your financial aid materials.”

    So, MOST PROBABLY they haven’t lost your applications! (however do try to email them and make sure they have not lost anything)

  33. Mom says:

    According to the FASFA, we’re rich! Our daughter loves MIT and really wants to attend. If she gets in, I don’t know how we can afford it.

  34. Anonymous says:

    hey, what’s going on with fin aid page , it says nothing is recieved although they had showed that they recieved my app. about 2 weeks ago.
    can anyone tell me that it means the admission is rejected

  35. Rebecca says:

    <3 I love that MIT is offering such great financial opportunities ^^ Honestly if I could (possibly) get in and didn’t have financial aid I would still get a student loan (which would mean paying it off for like, the rest of my life, but going to MIT is worth it). That’s not to say I wouldn’t appreciate some good ol’ financial aid though!

  36. Rebecca says:

    Oops sorry about the blank post before *glares at computer*

    Oops sorry about the blank post before *glares at computer*

    <3 I love that MIT is offering such great financial opportunities ^^ Honestly if I could ever possibly get in and didn’t have financial aid I would still get a student loan (which would mean paying it off for like, the rest of my life, but going to MIT is worth it). That’s not to say I wouldn’t appreciate some good ol’ financial aid though!

  37. Meara says:

    I think everybody needs to relax. If you assume that the increase was 4.1% exactly, the difference comes out to be about $1378. I’m pretty sure that if you already don’t qualify for financial aid, the extra thousand dollars isn’t going to break the bank. I don’t qualify for financial aid either, but I think it’s great that MIT is making it easier for people who don’t have as much financial flexibility to afford a great education. Give the griping a rest.

    @Jonathan: It seems to me that your friend’s problems have more to do with his parents being awful than MIT’s tuition. But that’s just me.

    @Snively: I admire the conspiracy theory, but I’m pretty sure that even if MIT cared, there’s enough guys named Scott or Jonathan to make it non-useful. Email addresses, now, that might work…

  38. omg….my fin.aid tracking pg shows the same thing….international fin aid form n tax return not recvd….well….like Ifigeneia Derekli said…hope it isn’t gone….
    funny kinda prob though…!!!!
    1st the application tracking page goes…n now this…hey MIT..!!!–i can only handle this many heart attacks…now please don’t reject me tooooo!!!!!!!

  39. AK says:

    Reading all those blogs about financial aid missing documents made me log in and out of my mit to check my financial aid several times. But I didn’t have such a problem as being said above.

    Maybe the ‘glitch’ in the system is now fixed. So I’d ask you’ll to check it once again. Besides, if it showed yesterday that MIT has your documents, you needn’t worry as those hard-working, caring individuals in the fin aid office wouldn’t lose it and they have answered Derekli that they have all of your documents.

    Good Luck!

  40. Thuita Maina says:

    Matt

    This is wonderful news. It makes me like MIT more.
    But it’s also increasing a chance of me getting a heart attack in case I get rejected.
    By the way at what stage are the applications that have made it thus far? Have they reached the dean?

  41. Yes, i think many colleges are increasing tuition about 4-5 percent.

    I don’t remember….does MIT have the policy of entering tuition= graduating tuition (constant tuition all 4 years)

    hmmm…I was wondering, if the financial aid tracking system says forms have not been received [FAFSA for ex] but they were sent many weeks ago and known to be received by other universities, does it correlate with an admission decision of a rejection?

    Also, would someone happen to know if both the CSS-Profile and the FAFSA are required to be received before the financial aid office would bother to update that status?

  42. KB says:

    I personally appreciate this news very much because I come from a low income family. It’s great news that MIT is making my education affordable. Now, Johnathan and Scott, don’t you think it’d be discrimination if MIT becomes exclusively rich kids? I mean, poor kids need to have a chance to get an education too. This is the land of opportunities, where the poor can rise up in society. If colleges don’t provide financial aid on a needbased basis then they’re discriminating against the poor. They (the poor) shall never be able to rise in society nowaday because they wouldn’t even be able to afford a state school education. Also, think about it, the cost is all relative to everyone’s income. I mean, if your parents make a lot of money, the cost of MIT is proportional to their salaries and you’ll probably still be able to live comfortably. Whereas for poor families like mine, after finaid, the cost is also proportional to my parent’s salaries, but they’ll have to live in a little less comfort than those who make a lot money (assuming that the student does not do any work to supplement his/her education and everything is based on parents contributions). So i think it all evens out in the end.

  43. KB says:

    By the way Johnathan, if you find it so unfair, don’t accept the finaid from MIT. Rebel for a cause, wouldn’t that be great?

  44. Jonathan says:

    KB: I don’t think you understand my argument. I think providing and increasing financial aid is great, and I’m in great support for that program.

    My problem is with increasing the tuition for the rest of the more wealthier applicants. The tuition costs yearly for someone who doesn’t receive financial aid is monstrous and increasing this amount doesn’t help anyone but MIT… but it hurts many others.

    Now, don’t get me wrong, I’m not a Republican, and in no way do I support the rich getting richer… but I think this is a form of discrimination against them and I think it needs to stop. The tuition is high enough — why don’t they just leave it at that. And I’d hardly say that it’s inflation… 4.1% is just too much to say that all of it’s inflation.

    What many don’t understand is that the rich aren’t that rich… hehe. I know a girl who wanted to go to UChicago but didn’t get any financial aid even though her parents made only about $120,000 a year. At $50,000/year, after taxes and everything, this is really hard to keep up… I kind of feel sorry for her, as she wasn’t able to go.

  45. Jonathan says:

    Perhaps $50,000/year isn’t very much for people who make stuff like $500,000/year, but I doubt many MIT applicants really make that much money. A surprising amount of people get screwed over just because of money.

    And whoever mentioned that I should be worried about having my name posted here, MIT should know the IP address I’m posting this from and should therefore be able to track down who I am. Banning me from being admitted just because I disagree with a policy would be rather unfair, though, now wouldn’t it be? I’m just standing up for the minority after all, as I think some of the things that are happening are unfair.

  46. Anonymous says:

    hey guys please join the ‘MIT 07 Applicants’ grp on facebook

  47. Amjad says:

    Who is this awesome amazing adorable admirable person smile
    i mean you… anonymous
    http://www.facebook.com/group.php?gid=2250308853

  48. Amjad says:

    yeah guys join us

  49. james says:

    “appling for financial aid”

    “appling”

    Maybe my English is horrible, but is that a spelling error p_0….

  50. The increase, as usual, will impact those of us in the middle the most. We are able to find or borrow the money for our child to attend. We most certainly cannot afford to pay $49,000. Loans, loans, loans. Now that we are in we have little choice. Please don’t spout the financial aid increase, the very small amount we receive is no help at all.

  51. Monika says:

    I agree with middle class people!
    But instead of complaining, we could be looking for
    other money ressources! Maybe other foundations, …
    D’you know any?

  52. Meara says:

    With all due respect, I think this tuition increase is a lot less of a big deal than everybody seems to think. Tuition’s only going up $1378. If you compensate for inflation (2.1%), it’s only going up by $672. Compared to the rest of the money you’re already paying to go to MIT, that’s pocket change.

    If paying for MIT wasn’t going to be an issue with last year’s tuition, I doubt it will be an issue with this year’s tuition.

  53. Anonymous says:

    Yeah, I gotta say, being “middle class” sorta sucks when it comes to financial aid. We’re “too rich” to be awarded much aid, but we definitely can’t afford tuition. I have an older sister who’s in college now and she didn’t get much aid. What’s more, her school’s $50,000/year! It’s crazy, and with me being in college (whichever one that may be) next year, it’s not going to be easy.

  54. To Meara,
    For those of us in position of deciding whether to pay for a child to attend MIT, the tuition increase does make a difference. To our surprise, virtually every other university to which our daughter has applied has contacted her to offer merit scholarships. This isn’t a choice between MIT and inferior schools — this is a choice between MIT, CalTech, Berkeley, etc. The cost difference between Berkeley and MIT is enormous, for instance. She could graduate from UC Berkeley’s School of Engineering with zero debt. As a family with a younger brother in the pipeline, we definitely have to weigh the finances, unfortunately.

  55. Matt says:

    Wasn’t there some school in Pennsylvania that raised its tuition and got more applicants?

  56. Josh V says:

    i kind of see what jonathan means. i go to a private school now and both my bro and sis go to private school as well. whenver i apply for any need based financial aid, i usually don’t qualify because my parents makes too much money. however, it is not like we are super rich and adding the cost of tuition for my bro/sis doesn’t make things easier. i guess the ones who are really kind of getting the shaft are the middle class people (correct me if i’m wrong).

    so yeah, its unfortunate that tuition rose, but with increased financial aid as well, i don’t think it’s anything to gripe about.

    fingers crossed for d-day! t-minus 10 days and counting! good luck everyone!

  57. EA Parent says:

    To Matt,
    Yes, Ursinus College, a small liberal-arts college in Pennsylvania, raised its tuition and attracted more students. However, that headline is deceptive (this was in a New York Times article, and if you simply Google “Ursinus tuition raise more applicants”, you’ll find it). In addition to raising its tuition, Ursinus increased its student aid 20%. This included both need-based and merit aid.

  58. Alyssa says:

    Good news is that i don’t go on my band trip to Japan until AFTER the MIT decision deadline….If i was out of the country on the 17th I don’t know what I’d do with myself!!

  59. Kenechi says:

    I’m gonna be in Disney world next week for my senior class trip, won’t be back till after midnight on technically the 18th. I get to come home to a decision.

  60. Meara says:

    To Parent of an EA:

    Your daughter’s been accepted to MIT and offered merit-money at Berkeley and CalTech. Excuse me if I don’t feel too sorry for you.

    And for purposes of clarification, I never said that MIT’s tuition is cheap. It’s just not any significant amount more expensive this year than it was last year. If MIT’s tuition this year doesn’t compare favorably with the other offers your daughter has received, last year’s tuition wouldn’t have either.

  61. Namastae Matt
    How many international applicants will MIT admit
    this year?

  62. anon says:

    I think the reason that this debate has become somewhat heated is because middle class people are beginning to question the assumption – made by somewhat sanctimonious commentators such as Meara, as well as by MIT itself — that financial aid decisions are “fair.” For those families whose children are sufficiently fortunate to receive generous financial aid packages, or for those families who are definitely “wealthy,” the financial impact of funding an MIT education is relatively minimal. There are either no savings to be obliterated or there are enough to cushion 4 years of Cambridge life. But for many middle class families, the prospect of sending a child to MIT involves an enormous financial hit. My family’s savings will be wiped out. Wiped out – and perhaps my parents may even have to re-mortgage their (modest) home. Will any other class experience a similar “loss?” Errr… after reading the examples provided by the financial aid office, I think not. Of course, this is not just a phenomenon particular to MIT, but it does seem as though, increasingly, institutions such as MIT will just become the preserve of a rather large majority of significantly needy students coupled with a thin veneer of very wealthy ones. And that would be unfortunate – especially considering all the cant about “diversity.”
    My suggestion: a more equitable distribution of funds to ensure that no one family has its savings (not including pensions) completely ravaged to finance an education. Universities may take a lot, but do they really have to take “everything?”

  63. Shawn says:

    Ahh, decisions come out the day after my birthday. A nice birthday present will be an acceptance letter smile.

  64. theresa says:

    to anon: I’m definitely in the same boat as you – except my parents have (practically) nothing to begin with.. -I mean we’re not poor enough to get pell grants or anything (technically I guess we’re lower-middle class).. I just got my first aid package, and it really didn’t give me all that much (my FAFSA report doesn’t help much, either)- but basically my outlooks is that I definitely need to do some serious scholarship hunting…

  65. intleyes says:

    I was in everyone’s spot two years ago. My son was an EA for the class of 09. I just finished my third round of FAFSA, CSS Profile and IDOC. The $ numbers are extremely painful. However, the people at MIT Financial Aid are the greatest. Really. When an Award Statement is received you swallow hard and then work on what is the best situation you can place yourself. My son is thriving. We chose not to make the money be the deciding factor. In addition to their aid, MIT provided my son with a well paying UROP this past summer. He also has secured outside scholarships. My husband and I make just over $40,000 (combined). MIT believed in our son and we believe in MIT. We went with our hearts and have no regrets. MIT is awesome.

  66. EA Parent says:

    Theresa, I wish you the best. And also best of luck to Meara and others still awaiting the RA decision. The point of my earlier post about merit-based offers from other places was simply this: We’ve been surprised to find that some institutions that claim not to offer merit aid do in fact offer it. I think this shift is occuring because some schools understand that middle-class families may need some help. MIT’s endowment was up 23% last year. It’s simply disappointing to hear that tuition is again rising in excess of inflation. Our daughter really, really wants to go to MIT. Ultimately, it will be her decision. She can go to Berkeley, graduate debt-free, and still have some funds for graduate school, or she can hunt for scholarships, work her way through MIT, and have no funds to support subsequent study. This will be a tough choice, but Meara is right — no one needs to feel sorry for anyone facing a choice like this.

  67. Hi whats happening? My MIT financial aid tracking used to say “your application is complete at this time”

    Now it says

    The following documents have not been received in any form and are still required:

    Required for Packaging

    * Parent’s 2005 Foreign Income Tax Return

    What does it mean!!!!!!!!!!!!!!!
    Is that document lost?

  68. OR does that mean even worse. MIT is seeking an excuse to ditch me —– Like uncompleted formalities…. Resulting in a clean kick outta the institute? ??????????????????????????????????????????????????????????????????????????????????????

  69. theresa says:

    Thanks for the nice thoughts, EA Parent. I wish your daughter good luck :D.

  70. Scott says:

    My disappointment was in the fact that they raised the cost of tuition and finical aid. What they should have done to be fair the the middle class is not to raise the tuition just so they can say that they have more money for financial aid.

    I agree with EA Parent, class of ’10 dad, anon, and Jonathan; financial aid just basically sucks for the middle class because it doesn’t help enough to matter.

    With the schools endowment increasing by 23% the school should be providing Merit Based Scholarship instead of more needs based financial aid. Merit based scholarship are great because they allow worthy people the opportunity to attend without wiping out their parents retirement.

    This is a larger issue that does not pertain to just education it is just the arguments that happen all the time about taxes. The higher income pay for the lower income. I hate to say that i am a Economic conservative (Notice I said ECONOMIC conservative, i happen to take the liberal point of view when it comes to social issues) and that i feel that my parents worked very hard to earn should not have to be spent to off set the cost of lower income students.

  71. Monika says:

    Merea and Anon.:
    I admire your decision, but its a very personal one and at high risk.
    My father returned from UCLA yesterday, and he told me he had seen different examples there:
    An international student who graduates this year an
    with his first years salar he can easily pay back the money.
    Another girl he talked to got ill, so she can’t work and can’t pay back her loan.

    I wish you, that your risk is worth to be taken.

  72. Jack says:

    MIT told me they really lost my ISFAA form… how come???

  73. Anonymous says:

    Accept me! smile I’m a middle class kid. I’ll take the loans if I get to go to MIT! smile

  74. Hick… there were 106 responses. now 94 (NCM)

  75. Anonymous says:

    Scott, I don’t think your tuition is used to pay for the poor’s tuition. The money MIT is using for their finaid comes from funds raised by MIT and donations from alumni. Poor people work hard too. With all due respect, I do understand that you just don’t think it’s fair to pay for others, but I think you’re looking at it from the wrong angle. You’re not paying for anyone if you’re paying full tuition for MIT. In a way, the poor kids are paying in full too, but they just happen to receive money from nice people like the MIT alumni and other donors. By the way, MIT doesn’t always cover everything. People like me have to put in a conscious effort to supplement our education even though we receive finaid. I work, I search for scholarships and grants, write numerous essays, and I’m planning on taking out loans if MIT does not meet my needs. I don’t depend on my parents to pay for my education. they have their own lives to take care of. we’re becoming adults, its about time we take our futures into our own hands and bear part of the burden to ease it off their shoulders. take out a few loans to cover parts of the cost so that it becomes affordable for them. I feel that your education is your responsibility because the person that it benefits in the long run is you. If you can’t afford it, you need to work for it. So I am working for it. I know that my parents cannot afford it, so I am taking the FULL burden on myself. To be honest, I am willing to take out loans to pay for MIT in full in exchange for an its education because I value it that much.

  76. Anurag says:

    Hi

    CAn some one tell me where can I track my details of financial aid from?

  77. Anonymous says:

    Yeah, the number of posts decreased…

    censorship FTW

  78. Jack says:

    I checked the portal. the form’s still missing…and no replies form the Office…

  79. bhushan says:

    hey jack
    its same with me

  80. Josh V says:

    when marilee jones came to seattle for the mit info night, she talked a little about financial aid. she said that the thing with implementing merit based scholarships at MIT is that so many people would qualify for it that mit would go broke. if you think about it, it’s true–there are so many talented applicants that everyone would probably qualify for some form of merit based aid. this is not to say, however, that it might not work if mit significantly raised the criteria of a merit based system to a more competitive level….

    i don’t know. i guess i just see it as whatever socioeconomic background one may come from, inevitably going to college is going to affect the wallets of everyone–just some more than others. and you know, that’s life. life is not fair, so one just has to make the best out of his/her situation (whether it be by trying to work with the system or by trying to change it).

    T minus 9 days and counting… {=[ (i’m hella anxious/nervous! ahhhhhhh!)

  81. bhushan says:

    read this it will give u relief

    From Where You Are Now To Where You’ve Always Been

    in a temple at Delphi, in Greece, spiritual seekers meditate before a stone tablet with the words “Know Thyself”inscribed on it.

    This message was given by Socrates to seekers of truth more than 2,000 years ago. The same message has been given in different words in different cultures by philosophers like Adi Shankara, Ramana Maharshi, Ramakrishna Paramahamsa and Rajchandra: Ask yourself, “Who am I?”. Others have said: “Know the knower”.

    Who is this person we are told we have to know — or, what is the significance of the message, Know Thyself? The answer is that the person who you have to know, is the true you, the one who is the observer of your thoughts, your body and the world around you.

    Bliss can only be experienced when you become yourself and that is all you need to aspire for despite all your weaknesses and deficiencies.

    The journey begins from the place where you are to the place where you have always been. You have to experience your presence and know that you are the master of your mind, senses and body. In Gurdjieff’s words, “Life is real, only then, when I am”.

    Ultimately, the mind has to merge into its source, which is pure consciousness.How do you start this journey from the gross to the subtle? The first step would be to accept your present state of being.

    With the help of wishful thinking, every person has created an image of himself. The role of ego would have to be understood in creating this self-image. Most of us live in a world of self-deception and wear a mask. This mask will have to be thrown off.

    You become the observer of the mind and negative thoughts like anger, jealousy, sadness and greed. The stimulus may be external but the reaction is from within you.

    There is some space between the stimulus and your reaction and you have control over this space. This control is your freedom of choice to avoid negative thoughts.
    Let not the mind dictate your actions because the mind is a good servant but a bad master. The quieting of mind by avoiding negative thoughts will result in biochemical processes which manifest as the well-being of your body.

    The soul is made of love and when you return to love, it becomes the mother of divine qualities like compassion, kindness, selfless and tenderness.

    Once you begin to separate from your false identities like your body, thoughts, desires and external happenings, you realise that bliss is the result of the suspension of mental activities.

    Anxiety results from desires and expectations. Awareness has to be created so that the mind does not slip back to its old habits. With this awareness your journey on the spiritual path gains greater momentum.

    If the mind remains tied up in knots of negative thoughts, there will be no progress.What would be needed to remain steadfast in abiding calm and undisturbed bliss?

    The answer can be found in the practice of meditation. Meditation should not be a time-bound action but a permanent state of total awareness and being.

    Absolute tranquillity is in the present moment. There is no limit to this moment and there are no time divisions. In this state, the past, present and future have contracted themselves into a single moment. In the words of the Mother: “To know is good; to live is better and to be that is perfection”.

  82. kevinfromMA says:

    I’m in the same boat as the Anonymous poster four comments above me. Middle class, EFC just over the cost of attendance, the works.

    I applied to another school in Boston for a hefty full-ride scholarship complete with grant money to conduct research as an undergrad. While the chances of me getting the scholarship aren’t much higher than my chances of getting into my top choice school(s), my parents have made it clear that turning down that full ride, should I receive it, would be a major sticking point.

    This worried me. Like a significant portion of us, MIT has been my absolute *dream* since childhood. Living 30 minutes from the hub for most of my life only compounds that. I can’t say enough how enamored I am with the school and how much I’ve instilled the same thoughts in my parents. Naturally it was a shocker to hear that even if I got into my first choice, they’d rather me take the full ride at the lesser school. This really, really worried me. Did my parents not understand how this has been my single goal for the past N years?

    I thought about this for a little bit and arrived at the same conclusion: I’m going where I want to go the most, and if it means I have to work my butt off to do so, then I will. It’s ultimately my decision to make, and if I want to be working 30-40hrs during all my breaks and summers, then I plan on doing it.

    Glad to hear there are others that feel this way.

  83. Meara says:

    To anon:

    I actually agree with you. I’m sorry if I came off a bit strong; sometimes I tend to lobby a little too hard for my point and the shading gets lost. Apparently my language is a bit more sweeping than I had realized; I’ll try to be more circumspect in the future.

    Here’s to hoping that everyone here is accepted to and can afford to attend the school of their choice!

  84. Anonymous says:

    I’d request people over here to use English only, so that all of us can understand what’s discussed.

  85. Anonymous says:

    Any idea what is going on in the Admissions office these days? I mean, is the international committee on?

  86. Anonymous says:

    Sorry to high jack your post guys. But can you please help.

    Any idea what are other good schools, in and around Boston Area to consider. I am looking for Mecahnical Engineering. How about Northeastern? Any comments?

  87. Senor Matt …

    My MIT financial aid tracking used to say “your application is complete at this time”

    Now it says

    The following documents have not been received in any form and are still required:

    Required for Packaging

    * Parent’s 2005 Foreign Income Tax Return

    What does it mean!!!!!!!!!!!!!!!
    Is that document lost?

    OR does that mean even worse. MIT is seeking an excuse to ditch me —– Like uncompleted formalities…. Resulting in a clean kick outta the institute? ??????????????????????????????????????????????????????????????????????????????????????

    Por favor respondar pronto.
    Please please help us by responding..

  88. Being a seasoned reject, I know how painful it would be for most of you who post here. Please understand that desire causes anger and sorrow. Spend less time on these blogs and more on your coursework.

  89. Steve says:

    It seems like financial aid is pretty important these days. Maybe thats sad since education is a human right and should be free regardless!

    Then again, 100 million children never get the chance to attend primary school, much less a university. So maybe its not really worthwhile to have any debates about the merits of MIT’s new program.

    I think we should let is suffice to say its good that maybe some more people will be able to afford to go, and that many people will have more money to spend or invest, but that the policy isn’t perfect, so people have legitimate concerns.

  90. Rebecca says:

    On a bright side, for the first time in my life I’m glad my mom isn’t making more than she is right now (despite constant complaints from her) because I think given our circumstances I can get a pretty good amount of financial aid.

    On the other hand, Even if I cannot, I’m willing to get a loan because MIT is definitely worth it.

    That is, of course, given I am accepted (still a junior this year ^.~)

  91. I have to agree with Rebecca, above. Yes, MIT costs. But my parents, who don’t make an enormous amount of money, are cutting back on everything so my sister and I can go to college in addition to hoping for a good financial aid package. Also, they already know that I will be taking out loans of my own (please God MIT accepts me). MIT is definitely worth the cost; the value of the knowledge acquired there and the sense of capable curiosity expressed is worth far, far more.

    Ifigeneia Derekli! Wow! Good luck; I really, really hope you get in, even if I don’t.

  92. Guyomar says:

    This is quite a time – admissions decisions, national ranks, etc . I find it exciting and frightening at the same time. Exciting because I’m finally getting answers after months of wondering, frightening because sometimes the response isn’t the one I wanted to hear.

  93. madmatt says:

    Hello all,

    Let’s turn down the temperature a little bit. I’m sorry to have started a discussion that has gotten a little contentious.

    As a student who came to MIT from a middle class background, I sympathize with many of you. I am, indeed, still paying back loans (through my 10 year reunion), though I see it as a small sacrifice for what I have received in return. Also, I do make annual gifts to MIT’s financial aid fund, so that others may have the same opportunities I’ve been given.

    I don’t know if the American model of education costs is best, with parents shouldering a large burden for their children. But within this system, I am definitely committed to MIT’s principles of need based aid, and meeting (by some definition) every family’s full financial need. And I know from my experiences at MIT as a student and as an administrator that the vast majority of families genuinely are able to make it work; and for those for whom it doesn’t work, they find many other wonderful options.

    Meanwhile, I need to get back to reviewing applications. Decisions are coming soon!

    — Matt

  94. bhushan says:

    i apolozise for that Abhis(abhiseks) stuff