<p>Will MIT move towards the step Harvard is taking and not require any parental contribution if a student's family income is <$40,000 a year?</p>
<p>How generous is MIT's financial aid at present? Thanks!</p>
<p>I'm curious about the answer to this question too.</p>
<p>Unlike Harvard, we do not have a stated "cut-off" point where students receive 100% financial aid, but rather we look at each case individually. I will tell you, though, that the majority of families earning less than $40,000 will receive full packages at MIT and Harvard and probably almost any place they would want to go. The contribution level expected from a family with less than $40,000 in earnings and no sizable assets would, by definition, be small. But I would be careful about using standard "cut-offs" since there are very many factors that go into our consideration. </p>
<p>You may want to review my blog at <a href="http://blogs.mit.edu/barkowitz%5B/url%5D">http://blogs.mit.edu/barkowitz</a> -- specifically the sections on how your EFC is determined, to get a sense of how we work it through.</p>
<p>Thanks for the informative post, Mr. Barkowitz, and welcome!</p>
<p>Thanks! Nice to be here (even though I copied Ben's idea...).</p>
<p>MIT is smart. Now the financial aid people are making their role at MIT more transparent. This is making MIT more and more appealing to me as a parent of a math-avid boy (possibly high school class of 2010, unless he skips a grade).</p>
<p>Thanks Mr Barkowitz! Are internationals are given equal priority for finaid as US citizens/PRs?</p>
<p>Absolutely! Internationals are considered at the same level of priority. We complete a full analysis of contribution and need for international students and provide a full complement of financial aid programs.</p>
<p>But why does MIT have quotas, if not for financial aid.. ?</p>
<p>Because they cannot support more than 100 students, and they don't let a student's financial situation get through the admission process, so they select the best 100 out of a pool of about 2500. Supporting more will be a huge burden on MIT, and that's why the cap is on 100 currently.</p>
<p>I can't comment on quotas, since we don't have any in the financial aid process. If you are admitted and you are eligible, we aid you. Period. End of story.</p>
<p>Maybe Ben can advise on the admissions process for internationals and whether there are quotas there, but that is not my area of expertise.</p>
<p>What does it mean that the deadline for financial aid documents is march 1.
Do we had to send them by March 1 or they were supposed to have arrived by March 1. I sent mine on February 28 by DHL (i suppose thwy will arrive on March 2,or 3). Is it OK or am I late, am what does it mean if I am late.</p>
<p>Don't sweat being late Swetko! The March 1 date is simply a priority deadline. You can still apply after March 1 and we will consider you for aid, but you may not have your answer from us by April 1 (in time to make an informed decision for attendance).</p>
<p>The issue is that we need some time to review your application files, so anyone who completes after March 1 will be reviewed in the order in which they are received, so if you complete much after March 1 you may run the risk of only getting your award after the May 1 Candidates Reply date.</p>
<p>I found out while filling out financial aid info than my mom made $3500 last year...</p>
<p>and yes i did say 35 Hundred dollars... Does this demonstrate significant financial need?</p>
<p>Oh yes, timrades! I would like to know something about your mom's nontaxable income. But we should take that conversation offline.</p>