MIT Institutional Research
Office of the Provost
  Common Data Set 2003-2004

 

H. Financial Aid

Aid Awarded to Enrolled Undergraduates

H1. Enter total dollar amounts awarded to enrolled full-time and less-than-full-time degree-seeking undergraduates (using the same cohort reported in CDS Question B1, "total degree-seeking" undergraduates) in the following categories. (Note: If the data being reported are final figures for the 2002-2003 academic year (see the next item below), use the 2002-2003 academic year's CDS Question B1 cohort.) Include aid awarded to international students (i.e., those not qualifying for federal aid). Aid that is non-need-based but that was used to meet need should be reported in the need-based aid columns. (For a suggested order of precedence in assigning categories of aid to cover need, see the entry for "non-need-based scholarship or grant aid" on the last page of the definitions section.)

Indicate the academic year for which data are reported for items H1, H2, H2A, and H6 below:
__2003-2004 estimated or  _X_2002-2003 final

H3: Which needs-analysis methodology does your institution use in awarding institutional aid?

___ Federal methodology (FM)
_X_ Institutional methodology (IM)
___ Both FM and IM

  Need-based
(Include non-need-based aid
used to meet need.)
Non-need-based
(Exclude non-need-based aid
used to meet need.)
 
$
$
Scholarships/Grants    
Federal
5,688,147
0
State (i.e., all states, not only the state in which your institution is located)
92,320
0
Institutional (endowment, alumni, or other institutional awards) and external funds awarded by the college excluding athletic aid and tuition waivers (which are reported below)
41,618,304
0
Scholarships/grants from external sources (e.g., Kiwanis, National Merit) not awarded by the college
0
8,230,099
Total Scholarships/Grants
47,398,711
8,230,099
Self-Help    
Student loans from all sources (excluding parent loans)
13,197,541
3,465,529
Federal Work-Study
2,365,390
State and other (e.g., institutional) work-study/employment (Note: Exclude Federal Work-Study captured above.)
0
0
Total Self-Help
15,562,931
3,465,529
Parent Loans
0
8,081,015
Tuition Waivers Reporting is optional. Report tuition waivers in this row if you choose to report them. Do not report tuition waivers elsewhere.
0
0
Athletic Awards
0
0

H2. Number of Enrolled Students Awarded Aid: List the number of degree-seeking full-time and less-than-full-time undergraduates who applied for and were awarded financial aid from any source. Aid that is non-need-based but that was used to meet need should be counted as need-based aid. Numbers should reflect the cohort awarded the dollars reported in H1. Note: In the chart below, students may be counted in more than one row, and full-time freshmen should also be counted as full-time undergraduates.

  First-time
Full-time
Freshman
Full-time
Undergrad
(Incl. Fresh)
Less Than
Full-time
Undergrad
a) Number of degree-seeking undergraduate students (CDS Item B1 if reporting on Fall 2003 cohort)
972
4112
66
b) Number of students in line a who applied for need-based financial aid
742
3184
28
c) Number of students in line b who were determined to have financial need
637
2940
28
d) Number of students in line c who were awarded any financial aid
637
2940
28
e) Number of students in line d who were awarded any need-based scholarship or grant aid
481
2137
22
f) Number of students in line d who were awarded any need-based self-help aid
464
2149
24
g) Number of students in line d who were awarded any non-need-based scholarship or grant aid
434
1546
11
h) Number of students in line d whose need was fully met (exclude PLUS loans, unsubsidized loans, and private alternative loans)
637
2940
28
i ) On average, the percentage of need that was met of students who were awarded any need-based aid. Exclude any aid that was awarded in excess of need as well as any resources that were awarded to replace EFC (PLUS loans, unsubsidized loans, and private alternative loans)
100%
100%
100%
j) The average financial aid package of those in line d . Exclude any resources that were awarded to replace EFC (PLUS loans, unsubsidized loans, and private alternative loans)
$22,464
$22,010
$20,810
k) Average need-based scholarship or grant award of those in line e
$20,659
$20,823
$20,956
l) Average need-based self-help award (excluding PLUS loans, unsubsidized loans, and private alternative loans) of those in line f
$4,359
$4,502
$4,685
m) Average need-based loan (excluding PLUS loans, unsubsidized loans, and private alternative loans) of those in line f who were awarded a need-based loan
$2,855
$3,359
$4,729

H2A. Number of Enrolled Students Awarded Non-need-based Scholarships and Grants: List the number of degree-seeking full-time and less-than-full-time undergraduates who had no financial need and who were awarded institutional-not external-non-need-based scholarship or grant aid. Numbers should reflect the cohort awarded the dollars reported in H1. Note: In the chart below, students may be counted in more than one row, and full-time freshmen should also be counted as full-time undergraduates.

  First-time
Full-time
Freshman
Full-time
Undergrad
(Incl. Fresh)
Less Than
Full-time
Undergrad
n) Number of students in line a who had no financial need and who were awarded institutional non-need-based scholarship or grant aid (exclude those who were awarded athletic awards and tuition benefits)
158
664
6
o) Average dollar amount of institutional non-need-based scholarship and grant aid awarded to students in line n
$8,158
$6,948
$1,238
p) Number of students in line a who were awarded an institutional non-need-based athletic scholarship or grant
0
0
0
q) Average dollar amount of institutional non-need-based athletic scholarships and grants awarded to students in line p
$0
$0
$0

H3. Incorporated into H1 above.

H4. Provide the percentage of the 2003 undergraduate class who graduated between July 1, 2002 and June 30, 2003 and borrowed at any time through any loan programs (federal, state, subsidized, unsubsidized, private, etc.; exclude parent loans). Include only students who borrowed while enrolled at your institution.  54%

H5. Report the average per-borrower cumulative undergraduate indebtedness of those in line H4. Do not include money borrowed at other institutions: $20,580

Aid to Undergraduate Degree-seeking Nonresident Aliens (Note: Report numbers and dollar amounts for the same academic year checked in item H1.)

H6. Indicate your institution's policy regarding institutional scholarship or grant aid for undergraduate degree-seeking nonresident aliens:

_X_
Institutional need-based scholarship or grant aid is available
___
Institutional non-need-based scholarship or grant aid is available
___
Institutional scholarship and grant aid is not available

If institutional financial aid is available for undergraduate degree-seeking nonresident aliens, provide the number of undergraduate degree-seeking nonresident aliens who were awarded need-based or non-need-based aid:  335

Average dollar amount of institutional financial aid awarded to undergraduate degree-seeking nonresident aliens: $33,369

Total dollar amount of institutional financial aid awarded to undergraduate degree-seeking nonresident aliens: $11,178,505

Process for First-Year/Freshman Students

H7. Check off all financial aid forms domestic first-year (freshman) financial aid applicants must submit:

_X_
FAFSA
___
Institution's own financial aid form
_X_
CSS/Financial Aid PROFILE
___
State aid form
_X_
Noncustodial (Divorced/Separated) Parent's Statement
_X_
Business/Farm Supplement
_X_ Other: Parent's complete federal income tax returns form prior year, including all schedules and W2's.

H8. Check off all financial aid forms nonresident alien first-year financial aid applicants must submit:

_X_
Institution's own financial aid form
___
CSS/Financial Aid PROFILE
___
Foreign Student's Financial Aid Application
___
Foreign Student's Certification of Finances
_X_ Other:  Equivalent of parent's complete federal income tax returns form prior year.

H9. Indicate filing dates for first-year (freshman) students:

Priority date for filing required financial aid forms: ___
Deadline for filing required financial aid forms: 02/01
No deadline for filing required forms (applications processed on a rolling basis):  ___

H10. Indicate notification dates for first-year (freshman) students (answer a or b):

a) Students notified on or about (date):  03/15
b) Students notified on a rolling basis:  ___Yes   ___No     If yes, starting date: 

H11. Indicate reply dates:

Students must reply by (date): 05/01 or within ___ weeks of notification.

Types of Aid Available

Please check off all types of aid available to undergraduates at your institution:

H12. Loans

FEDERAL DIRECT STUDENT LOAN PROGRAM (DIRECT LOAN)
_X_
Direct Subsidized Stafford Loans
_X_
Direct Unsubsidized Stafford Loans
_X_ Direct PLUS Loans

FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFEL)
___
FFEL Subsidized Stafford Loans
___
FFEL Unsubsidized Stafford Loans
___ FFEL PLUS Loans
   
_X_
Federal Perkins Loans
___
Federal Nursing Loans
___ State Loans
_X_ College/university loans from institutional funds
___ Other (specify):  ___

H13. Scholarships and Grants

Need-Based:
_X_
Federal Pell
_X_
SEOG
_X_
State scholarships/grants
_X_ Private scholarships
_X_
College/university scholarship or grant aid from institutional funds
___
United Negro College Fund
___ Federal Nursing Scholarship
___ Other (specify):  ___

H14. Check off criteria used in awarding institutional aid. Check all that apply.

Non-need
Need-based
 
Non-need
Need-based
 
___
___
Academics
___
___
Leadership
___
___
Alumni affiliations
___
___
Minority status
___
___
Art
___
___
Music/drama
___
___
Athletics
___
___
Religious affiliation
___
___
Job skills
___
___
State/district residency
___
___
ROTC      

 

Institutional Research
Office of the Provost