MIT, world's number one university, offers free tuition and stipends for students from low-income families

MIT, ranked the world's number one university in the 2025 QS World University Rankings, an annual ranking of the top universities worldwide, published by global higher education analytics firm Quacquarelli Symonds (QS), announced late last month that it would expand its financial aid program for both domestic and international students starting in the 2025-2026 academic year.

Starting next fall, undergraduate students from families with annual incomes below $200,000 will receive full tuition coverage. Additionally, for families earning less than $100,000, MIT will cover other expenses such as housing, dining, fees, books, and personal allowances.

This move aligns with a growing national effort to improve access to higher education and builds upon MIT's current financial aid policies.

However, MIT notes that this policy currently applies only to undergraduate students.

MIT's financial aid budget for undergraduates has increased 70% over the past decade, totaling $167.3 million this year, according to a statement on the institute's website.

"These new steps to enhance MIT's affordability for students and families are the latest in a long history of efforts by the Institute to free up more resources to make an MIT education as affordable and accessible as possible," it said.

MIT President Sally Kornbluth emphasized the importance of making a transformative education accessible, regardless of financial background.

"We’re determined to make this transformative educational experience available to the most talented students, whatever their financial circumstances. So, to every student out there who dreams of coming to MIT: Don’t let concerns about cost stand in your way," she said as quoted in the statement.

Prior to this new policy, only families earning below $140,000 were eligible for free tuition, with all costs covered for those earning under $75,000.

To apply for financial aid, students must submit an application and tax documents. MIT also provides financial advisors to assist throughout the process.

MIT’s announcement follows similar moves by other U.S. universities. The University of Texas system will eliminate tuition for students from families earning less than $100,000 a year, starting next fall, while Harvard University has raised its income cutoff for free tuition to $85,000 per year.

MIT is one of nine U.S. universities offering need-blind admissions for international students, meaning financial status does not impact admissions decisions. Other institutions with this policy include Harvard, Yale, Princeton, Amherst, Dartmouth, Bowdoin, Brown, and Notre Dame.