<p>Let's say income is around 70k. House owned: 130k. No savings or whatever. However, my parents' work provides benefits of paying around 15-20k for any college I attend.</p>
<p>The MIT tuition is like 38k, so would they cover the rest if I'm accepted? There's no way I can pay that. Also, is there any chance they'd extend that to cover the dorm payments as well? Apparently there's an additional $11000 involved for dorms and food, not to mention books for $3000, and personal expenses for God knows how much.
We're a family of 6, and my parents have to pay for my sister's Master's degree as well (one other sister completed education and has a job, and last sibling is studying abroad by scholarship), so it's unlikely they can save up much in the year. Any chance they'd note this and pay everything but food, books, and personal expenses? (As in, pay the tuition and dorm costs.)</p>
<p>Also, I know that I'm expected to work a few hours in return for the financial aid, which I'm fine with, but I don't want any loans. What do you guys think?</p>
<p>Keep in mind that books and food are expenses that you can control yourself – I never paid more than $250 or so for books in a semester, because I bought them used from other students or from the internet. And because many MIT dorms have kitchens, you can cook for yourself and reduce your food expenses dramatically. </p>
<p>Many students at MIT work, most commonly at various desk-type jobs around campus or by doing paid research with a professor on campus. Campus minimum wage is $9.00 an hour, and many of the research jobs pay substantially more than that. You could easily earn enough to pay for your personal expenses, and maybe your dorm room, through a campus job.</p>
<p>Ah yes, the calculator. I did actually come across that, but I have no idea what half the things it requests mean, which just does not help at all.
Okay, so books might not be a big issue, but still: around 10k a year for living in the dorm rooms is nothing to scoff at… And I did think of working on-campus as well, but as I read on the website, at around 4 courses per semester, that’s 48 hours of work per week. Subtract that and the sleep hours from your week, and subtract a few more hours for relaxation (we all need it) and - while possible - working most probably won’t cover most of my expenses. </p>
<p>I just have to jump in and ask: does MIT ever pay for a student’s dorm expenses? If I can get those covered, then I’m sure the financial issues will not get in the way of my going to MIT. Then there’ll “just” be the whole acceptance issue :D</p>
<p>You’ll need to use the calculator for a usable number. As a general rule, students with families that make 70k or less graduate debt free, and the amount of expected contribution scales up with income. </p>
<p>We are full need, meaning we will meet every cent of your family’s demonstrated financial need, including cost of dorms. </p>
<p>Your parent’s benefit may complicate things some, but the bottom line is this: </p>
<ul>
<li>If you are accepted at MIT, we will make it affordable for you to come here. </li>
</ul>
<p>With that in mind, it may just be easiest to apply. After all, if you aren’t accepted, then you don’t have to worry about it, and if you are accepted, we can figure things out. </p>
<p>If you really “need to know”, then you have to use the calendar.</p>
Well, there’s also the summer, and the month of January, when MIT doesn’t have class. You can work full-time during those periods.</p>
<p>It’s not unusual for students to work about 10-15 hours a week, even with normal courseloads, sleep schedules, and social lives. I always worked about 12-15 hours a week at my UROP, and got a nice $200 paycheck every payday – enough for me to cover my food and entertainment expenses.</p>
<p>Oh, well that’s great Seems like working there will cover all my expenses, and maybe some of my dorm room cost too
Sounds great, thanks to the both of you for replying - you really helped loads. Definitely reassuring to hear MIT reps say that MIT’s affordable for anyone if they get in. Wish me luck for next year! :D</p>
Seems like working there will cover all my expenses, and maybe some of my dorm room cost too 