MIT Institutional Research
Office of the Provost
  Common Data Set 2015-2016
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 2014-2015 academic year (see the next item below), use the 2014-2015 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:
__2015-2016 estimated or  _X_2014-2015 final

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 use to meet need.)

Non-need-based
(Exclude non-need-based aid use to meet need.)

 

$

$

Scholarships/Grants    
Federal 5,793,140 1,512,527
State (i.e., all states, not only the state in which your institution is located) 174,078 0
Institutional: Endowed scholarships, annual gifts and tuition funded grants, awarded by the college, excluding athletic aid and tuition waivers (which are reported below). 91,907,304 0
Scholarships/grants from external sources (e.g., Kiwanis, National Merit) not awarded by the college 3,974,113 7,713,942
Total Scholarships/Grants 101,848,635 9,226,469
Self-Help    
Student loans from all sources (excluding parent loans) 6,503,365 5,700,249
Federal Work-Study 2,002,102  
State and other (e.g., institutional) work-study/employment (Note: Exclude Federal Work-Study captured above.) 2,041,477 734,120
Total Self-Help 10,546,944 6,434,369
Parent Loans 260,014 3,827,573
Tuition Waivers
Note: 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 2015 cohort) 1,050 4,476 125
b) Number of students in line a who applied for need-based financial aid 832 2,942 118
c) Number of students in line b who were determined to have financial need 641 2,566 112
d) Number of students in line c who were awarded any financial aid 641 2,566 112
e) Number of students in line d who were awarded any need-based scholarship or grant aid 618 2,476 107
f) Number of students in line d who were awarded any need-based self-help aid 525 2,226 105
g) Number of students in line d who were awarded any non-need-based scholarship or grant aid 15 33 0
h) Number of students in line d whose need was fully met (exclude PLUS loans, unsubsidized loans, and private alternative loans) 641 2,566 112
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) 42,175 42,478 33,825
k) Average need-based scholarship or grant award of those in line e 39,882 39,775 31,460
l) Average need-based self-help award (excluding PLUS loans, unsubsidized loans, and private alternative loans) of those in line f 4,289 4,530 3,554
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 2,869 3,008 2,903

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 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) N/App N/App N/App
o) Average dollar amount of institutional non-need-based scholarship and grant aid awarded to students in line n N/App N/App N/App
p) Number of students in line a who were awarded an institutional non-need-based athletic scholarship or grant N/App N/App N/App
q) Average dollar amount of institutional non-need-based athletic scholarships and grants awarded to students in line p N/App N/App N/App

Note: These are the graduates and loan types to include and exclude in order to fill out CDS H4 and H5. 

Include:

  • 2015 undergraduate class: all students who started at your institution as first-time students  and received a bachelor's degree between July 1, 2014 and June 30, 2015.
  • only loans made to students who borrowed while enrolled at your institution.
  • co-signed loans.

Exclude:

  • students who transferred in.
  • money borrowed at other institutions.
  • parent loans
  • students who did not graduate or who graduated with another degree or certificate (but no bachelor’s degree.

H4. Provide the number of students in the 2015 undergraduate class who started at your institution as first-time students and received a bachelor's degree between July 1, 2014 and June 30, 2015. Exclude students who transferred into your institution.  1,066

H5. Number and percent of students in class (defined in H4 above) borrowing from federal, non-federal, and any loan sources, and the average (or mean) amount borrowed

 

Number in the class (defined in H4 above) who borrowed

Percent of the class (defined above) who borrowed  (nearest 1%)

Average per-undergraduate-borrower cumulative principal borrowed, of those in the first column (nearest $1)

a) Any loan program: Federal Perkins, Federal Stafford Subsidized and Unsubsidized, institutional, state, private loans that your institution is aware of, etc. Include both Federal Direct Student Loans and Federal Family Education Loans. 344 32% 23,485
b) Federal loan programs: Federal Perkins, Federal Stafford Subsidized and Unsubsidized. Include both Federal Direct Student Loans and Federal Family Education Loans. 313 29% 19,767
c) Institutional loan programs. 28 3% 7,232
d) State loan programs. 0 0% 0
e) Private alternative loans made by a bank or lender. 40 4% 42,231


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: 318

Average dollar amount of institutional financial aid awarded to undergraduate degree-seeking nonresident aliens: $46,323

Total dollar amount of institutional financial aid awarded to undergraduate degree-seeking nonresident aliens: $14,730,869

H7. Check off all financial aid forms nonresident alien first-year financial aid applicants must submit:

___
Institution's own financial aid form
_X_
CSS/Financial Aid PROFILE
_X_
International Student's Financial Aid Application
___
International Student's Certification of Finances
_X_ Other:  Equivalent of parent's complete federal income tax returns. CSS Business/Farm Supplement when requested by Financial Aid Office.

Process for First-Year/Freshman Students

H8. 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 PROFILE
_X_
Business/Farm Supplement
_X_ Other: Parent's complete federal income tax returns form prior year and W2s. CSS Business/Farm Supplement when requested by Financial Aid Office.

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

Priority date for filing required financial aid forms: Feb. 15
Deadline for filing required financial aid forms: Feb. 15
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):  mid-March
b) Students notified on a rolling basis:  ___Yes   _X_No     If yes, starting date: ___

H11. Indicate reply dates:
Students must reply by (date): May 1
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

_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      

H15. If your institution has recently implemented any major financial aid policy, program, or initiative to make your institution more affordable to incoming students such as replacing loans with grants, or waiving costs for families below a certain income level please provide details below: ___