Tuition to Exceed $20,000 Next YearBy Ifung Lu
Associate News Editor
The Institute announced an increase in tuition from $19,000 to $20,100 for the 1994-95 academic year. This 5.8 percent increase is the second lowest in the past 24 years.
The nominal self-help level will also rise 7.7 percent, increasing $550 to $7,650 next year.
With an additional 3 percent increase in average housing and dining costs, the total cost of attending MIT tops out at $26,075, a 5.1 percent increase over this year's figure.
These increases were approved by MIT trustees last Thursday.
Vest believes that it is important that tuition should increase only modestly in the effort to deal with financial challenges faced by MIT.
"I wish that we could slow the growth [of tuition] even further," Vest said. "Continuing to slow the growth of tuition is a key goal of the Institute, and we continue to reduce other expenditures to make this possible."
Vest emphasized that financial aid will continue to be available to help students meet their full need, as determined by the Student Financial Aid Office.
MIT will also continue to reduce the self-help requirements for students from families of very low income by as much as $3,500.
Vest noted that besides tuition, the only other primary sources of revenue for the Institute are federal and industrial research funds and private support, such as gifts and investment income.
Self-help level jumps 7.7 percent
"There's not much anyone can do about tuition increases. They are forced by the economic situation," said Undergraduate Association President Hans C. Godfrey '94.
However, Godfrey is concerned that the increase in the amount of self-help may be too high, especially in light of recent changes in the government policies regarding overhead and the Undergraduate Research Opportunities Program. The self-help level is the amount students are expected to provide from loans and term-time work before receiving scholarship assistance.
According to Godfrey, UROP is an important source of funding for students in financing their education. However, cutbacks in the program forced by government policies will limit the number of UROP's available next year.
This, coupled with an increase in the amount of self-help MIT expects, is a potential problem, Godfrey said.
According to Vest, MIT is "working to try to resolve this policy issue with the federal government. If this is not possible, then it will indeed have a negative effect on some students."
The UA will continue to do what it can to help alleviate the problem, said Godfrey. The UA is working on helping the administration obtain funds from alumni, as well as taking action to make students more aware of the jobs that are available.
In addition, the UA is currently organizing a lobbying campaign to reverse the government policies that affect UROPs. "Before the end of the year, [pro-UROP action] will happen, but this will carry on into the next administration," said Godfrey.
"All must recognize that there is a price for educational excellence," Vest said. "Nonetheless, we must all work together to reduce costs and improve the efficiency and effectness of MIT wherever this can be done while maintaining programs of the highest quality. Indeed, I believe that the quality of education is growing even better through such measures as the new Biology requirement and expansion of the Athena environment into the residence system."