<p>mit costs abt 42 k a year.If u coompare it to some place like caltech or berkely its a whole 10k more.Is MIT worth the extra buck or are u just paying for a brand?</p>
<p>Define "worth it".</p>
<p>more domes for your dollar,
more beaver for your bill,
more bang for your buck</p>
<p>A worthy sentiment indeed.</p>
<p>Plus keep in mind that more than 75% of our students (undergrad) don't pay for it all (that is the approximate percentage of students receiving scholarship from some source -- the %ge receiving MIT scholarship is greater than 1/2).</p>
<p>You need to look at net cost and judge from there (not total cost).</p>
<p>Don't let the cost dissuade you from applying. Even if you do not receive need-based financial aid, we will assist you in developing a payment plan that works within your budget.</p>
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75% of our students (undergrad) don't pay for it all (that is the approximate percentage of students receiving scholarship from some source
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<p>well, that's a little misleading. A student who wins even a trivial outside scholarship ($50 from the local Elks Club for a third place essay, say) would be counted in the 75%, even though the family is basically paying the full amount.</p>
<p>texas,</p>
<p>I think the point is that everyone who needs financial aid gets it. I wonder how man financial aid application's of admitted students are rejected. I also wonder how many of those admitted students legitimately need aid. I haven't heard of any cases, so I'll just assume they don't exist :D</p>
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everyone who needs financial aid gets it
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<p>I thnk that's the point also. My point is that that number is much less than 75% when you take out people with inconsequential amounts of outside aid. In terms of the original question, the number of MIT students who decided it was "worth it" to pay all or nearly all of the cost of attending is a lot larger than 25%. I think that MIT does a good job of making it possible to attend MIT, but certainly not painless. There are many middle class families (more than 25% of the school) essentially paying full cost at MIT, and making some sacrifice to do so. My family will be one of them, although my son is counted in the 75% receiving aid based on some inconsequential outside money. My son had generous merit aid offers elsewhere, and MIT was not an easy decision financially. We did not qualify for MIT aid, although we are by no means wealthy. We will be pushing back retirement and eliminating discretionary spending. There are probably many middle class students accepted to MIT who choose other schools for financial reasons.</p>
<p>And I would agree with texas137 in that the number can be misleading and that many families choose to attend MIT over other merit offers, and many do not make that choice.</p>
<p>There are several issues to address here. The first is the issue of the numbers. Not because I want to play the game, but rather to be fair, we can even stretch the number much higher than 75% (if I include all types of financial aid, including term-time work, the number is astronomical), but the point is simply this: this is not a numbers game, and I deeply respect that. This is much more a matter of personal choice and sacrifice.</p>
<p>My only reason for quoting the original statistic (and note that I gave both statistics in my original post), was to make the point that depending on how you define it, AT A MAXIMUM less than 1/2 of MIT families are covering all of the cost themselves (and if you count money from outside sources [yes, even the $50 Elks Club award] the number is much more like 25% who pay the full cost.</p>
<p>Just as an FYI, we are not the only ones who give both statistics. Look at HYPSDB etc. and you will, more often than not, see the same two percentages quoted (% including outside scholarships and % not). </p>
<p>The question originally asked was "Is MIT worth it". My answer is a resounding "Yes" -- if you think it is... </p>
<p>I just wanted to provide some nuance to the question, to shift the focus from total cost (sticker price) to net cost (cost after financial aid).</p>
<p>My biggest concern, frankly, is that people write off schools like MIT because of their price tag and never go any further into the financial aid process. </p>
<p>For families who are asked to shoulder the entire burden of the cost, oftentimes turning down full (or partial) scholarships elsewhere to come to MIT, the question becomes more complex than a simple cost-benefit analysis. There is a kind of differential calculus that goes into each family's analysis that is impossible to quantify in a global sense, but each decision is a valid one (to attend or not to attend), and each decision comes with costs and benefits.</p>
<p>A middle-income parent who sent me an email this year perhaps said it best (and I paraphase him here): financing the cost isn't easy, but it isn't impossible either, and that's just how it should be. We (in the aid office) work to make it as affordable as we can... The question, ultimately, is whether you feel the net cost of an MIT education is worth it. That is a question only you can answer.</p>
<p>I'll find out :)</p>
<p>I certainly think MIT is worth it over your average state school or what have you, if only for the internship and postgraduate opportunities that magically open up for people with an MIT education.</p>
<p>For instance, my first lab job, the summer after my freshman year at MIT, was at the National Institutes of Health -- a fairly competitive internship, particularly since I had no lab experience whatsoever. I found out later that I had been picked by the lab solely due to the fact that I went to MIT. </p>
<p>If I had been the same person applying for that internship after my freshman year at Ohio State (where I would have gone if I hadn't gotten into MIT), I wouldn't have gotten it. That's worth it for me.</p>