This new threshold encompasses approximately 80 percent of American households.
For families with incomes under $100,000, thebenefitsof the changes are even more dramatic.
The income threshold for full coverage of expenses was raised from $75,000.
For families with incomes between $100,000 and $200,000, MIT has implemented a sliding scale contribution system.
MIT’s financial aid program has already had a significant impact on student finances.
Those who did borrow graduated with a median debt of $14,844.
MIT graduates report an average starting salary of $126,438, according to the institute’s most recent survey.
With student debt burdens soaring, calculating the ROI of a university degree can be a tough call.
Generous financial aid packages can help enormously.
Hopefully more schools will follow suit.
