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Have you actually done the math to show this works out in the long run?
by vecter 11y ago
Have you actually done the math to show this works out in the long run?
- jqgatsby 11y agohttp://web.mit.edu/facts/financial.html http://web.mit.edu/facts/financial.html In 2015, tuition accounted for only 10% of MIT's yearly revenue (~$331M), so you have to cut the rest of the budget by 10% to give everyone free tuition. One natural area to focus on is yearly administrative costs, which in 2015 were $763M. If you gradually cut administrative costs by building fewer beautiful buildings for undergraduates to be indebted in or hiring fewer administrators, you can afford for every undergraduate to attend tuition free.