<p>Cellardweller: BTW "finaid per student" is not a terribly relevant number since it ignores how many students have financial need and to what degree. To highlight the issue, MIT states that it is atypical in that it enrolls many more students at the lowest income levels as evidenced by its very high number of Pell grant recipients.</p>
<p>mia:</p>
<p>The number of Pell grant recipients is not vastly different. MIT has 14% pell grant recipients as compared to 12% for Harvard. Harvard's Pell grant recipient number has also rising more rapidly that MIT's over the past decade and is quickly catching up.
Best</a> Colleges - Education - US News and World Report</p>
<p>So even if you eliminate the number of Pell grant recipients you find that MIT provides financial aid to about 46% middle income students as compared to 39% at Harvard. Adjusting for the student population at both schools, MIT still provides more aid to middle income students that Harvard.</p>
<p>@ cellardweller:
Thank you so much for your advice/commentary. I'm feeling a lot less hopeful. </p>
<p>In the meantime, I've talked to my parents and after their original "YOU'RE GOING TO YOUR SAFETY SCHOOL WHERE YOU HAVE A FULL RIDE SCHOLARSHIP" they're starting to say, "if MIT is where you want to be, we'll figure it out". I'm not sure it's where I want to be (yes, I know, I'm crazy) but I at least want the option if come May, it's where I want to spend the next 4 years of my life. All in all, I'm feeling much much better.</p>
<p>If that is of any comfort, I can assure you a lot of MIT students were good enough to receive full rides elsewhere (Our D did). In the end, very few admitted students turn away MIT, especially for economic reasons. MIT for instance enrolls the vast majority of students also admitted to top public schools such Berkeley or Michigan, who would save a bundle by staying in state. I know a lot of parents of alumni and I still have to hear any complaining that paying for their kid's education at MIT was not worth the investment. In these uncertain times, we often hear that we should be extra careful about spending money. But saving on tuition by giving up a unique educational opportunity is not worth the trade-off. </p>
<p>To have been admitted EA, you are obviously very talented. MIT clearly feels the school is a great fit for you and that you would thrive there. If you also believe it, then you should go.</p>
<p>I completely agree with cellardweller, and I'd like to share one more bit of information. I know two families that were initially opposed to the idea of choosing MIT over a full-ride scholarship elsewhere, and both changed their minds during CPW. It's not possible for everyone to attend, unfortunately, but if you really want to go to MIT and can bring your parents to the campus during CPW, it might change their perspective. It's difficult for a parent to sit through sessions hearing about all the incredible opportunities offered at MIT, and then say "Go elsewhere."</p>
<p>I'm definitely going to CPW (I live about 20 minutes away so there's really no downside and my dad is off on Fridays and my mom is off on Saturdays, so they should be able to attend quite a few of the meetings if they so wish). My mom is reading through the MIT website bit by bit and is starting to say, "wait a minute, you can still do really good music and everything else..." The calm is coming. As I think I've said earlier, I'm not sure if MIT is where I want to be, but I don't want my options closed by money (though I was expecting to have them closed by not being accepted...)</p>
<p>
[QUOTE]
As for whether MIT's fin aid is as generous as Harvard's--it probably isn't as generous for richer admits but is around the same for the poorer portion. Someone who qualifies for a full ride from Harvard would probably also get a full ride from MIT, someone who qualifies for a lot of aid from Harvard would probably also get a lot of aid from MIT...
[/quote]
</p>
<p>I qualified for 35K/year from Harvard, 15K/year from MIT...</p>
<p>Also I have no idea why cellardweller is using such garbage stats as % receiving financial aid, when someone could receive barely 2K and be "receiving aid" but obviously nearly nothing in terms of substantial help money.</p>
<p>"I qualified for 35K/year from Harvard, 15K/year from MIT..."</p>
<p>That's how much aid you got or how much you had to pay?</p>
<p>Thats what I was talking about. Thank you shalashaska64</p>
<p>Np. And yeah that's how much aid I was offered.</p>
<p>If you were offered that much, I'm guessing you're pretty high on the income bracket?</p>
<p>Since Harvard has that deal where you only pay 10% tuition up to some really high family income, and for simplicity I'll just estimate that Harvard's yearly tuition is $50k, that means you only had to pay $15k and therefore your family makes $150,000? (I think if you were a 3-person family, since I'm not sure how the numbers are adjusted for family size?)
I don't think you'd be able to get much aid anywhere with that except at Harvard.</p>
<p>"I don't think you'd be able to get much aid anywhere with that except at Harvard."</p>
<p>I think that is his point.</p>
<p>twas my point in posting this thread :)</p>
<p>As millerl1te 's experience appears to demonstrate, higher incomes should do much better under Harvard's finaid system. </p>
<p>Boosting</a> College Financial Aid | Harvard Magazine</p>
<p>As MIT noted in its response to Senator Grassley on finaid and the endowmwnt, the MIT student body skews to the lower income families. And, its finaid policies (including doubling Pell grants) skew toward servicing that same low-income constituency. </p>
<p>"Because science and engineering careers have long been an escalator of social mobility in the United States, MIT educates a high proportion of first-generation college students 16 percent in our most recently admitted class. MIT also works hard to ensure access for qualified students regardless of their familys resources. Seventeen percent of all undergraduates come from families earning less than $45,000 a year, and 22 percent come from families earning less than $60,000."</p>
<p>As with most things, however, the proof of the pudding is in the eating. So apply and find out for yourself.</p>