You can now read 10 articles each month for free on BostonGlobe.com.

The Boston Globe

Metro

CAMBRIDGE

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.”

You have reached the limit of 10 free articles a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than $1 a week