Corporation Hikes Tuition AgainBy Rima Arnaout
Students are planning the annual tuition riot this week in protest to yet another tuition hike. Tuition is up 4.2 percent, from $25,000 this year to $26, 050.
The cost of room and board will also increase 3.9 percent to make the overall cost of attending MIT $33,225 a year.
Housing, athletics cause hike
“The increases in room and board have been under the rate of inflation for some time now,” said Chancellor Lawrence S. Bacow ’72. “If we’re going to build new housing, especially for graduate students ... we need to increase [room and board rates] a bit to generate the resources necessary to properly maintain them.”
The increase of room and board may also help eliminate cost as a variable when deciding where to live, Bacow said. “When we keep dorm rents low, it also puts pressure on the entire housing system... FSILGs have to keep their rents low as well,” Bacow said.
The fact that the class of 2004 has a 1,000-member cap has not been a factor in the decision to raise tuition, Bacow said.
In addition, part of the increase in tuition will go toward the athletics program: the administration has eliminated the athletics card for next year.
Financial aid program examined
MIT Financial Aid expects a $7,600 self-help commitment from students. That amount has not risen with the tuition increase.
Although the amount is not rising, MIT already expects over a thousand dollars more in self-help than Harvard, Stanford, Yale, Caltech, or Princeton do.
MIT continues to look for a greater parental contribution than peer institutions, however, and this may discourage perspective students from attending MIT.
“We have a tendency to expect a higher parent contribution than our peers do, and that’s been the issue,” said Dean of Admissions Marilee Jones.
“I really don’t know how it’s going to affect us this year. The admissions and the financial aid systems of our competitive colleges are now so unpredictable that it’s difficult to know how one decision will affect yield,” Jones said. Still, she is “cautiously optimistic that our yield will go up.”
Part of that strategy, Jones said, will be to get as many people as possible to attend Campus Preview Weekend.
Seventy-five percent of MIT students receive financial aid. Fifty-two percent get need-based grants from MIT and thirteen percent get aid from outside MIT.
The increases in tuition and room and board were approved by the MIT Corporation last Thursday.