Financial aid will increase 7.8 percent for 2020-2021, offsetting a 3.8 percent rise in tuition and fees.
A record $38 million has been raised for undergraduate financial aid in FY19.
MIT admits 1,438 students from 50 states and 62 countries; admissions video carries on four-year tradition.
Tuition and fees increase of 3 percent is the smallest percentage rise since 1970.
First of its kind at MIT, fellowship will cover the initial year of graduate studies for students with financial need.
MIT’s admissions dean discusses U.S. Supreme Court’s ruling in Fisher v. University of Texas.
Substantial rise will benefit students and families across the economic spectrum.
Undergraduate financial aid budget to grow 8.8 percent; tuition and fees will rise 3.75 percent.