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Among the changes: starting in 2008-09, families of undergraduates earning less than $75,000 a year will have tuition fully covered by grant aid, and all undergraduates will have self-help lowered. See the MIT press release as well as a Q&A and background statistics from SFS.
MIT has its own profile on U-CAN (the University and College Accountability Network), a free, consumer-oriented college information web site developed by the National Association of Independent Colleges and Universities.