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    Cost to attend MIT to rise by 3.4 percent

    MIT plans to increase its undergraduate tuition and fees by 3.4 percent for the next academic year, which is among the lowest increases in recent decades, college officials announced. For the 2013-2014 school year, tuition and fees will cost $43,498, compared to $42,050 for this year. The higher cost will be offset by increasing the undergraduate financial aid budget to a record $97.6 million, according to a statement released by MIT. The statement said that the Massachusetts Institute of Technology has “more than tripled its spending on financial aid since 2000, a rate of growth that far exceeds tuition and fee increases during that same period, as part of the institute’s ongoing efforts to shield students and families from the impact of price increases.”