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Ok, I've been writing a term-long paper about Tuition at MIT for 17.241 [Introduction to the American Political Process]. I've analyzed where the costs of tuition go, the fact that tuition alone could only pay 14% of mit's operating costs, trends in tuition increase, the Ivy Overlap cartel, the process by which tuition is decided at mit, and a host of other issues.
The administrators I've talked to firmly believe (or, have sufficiently deluded themselves) that the process of Overlap -- the standardization of financial aid given to each student -- was in the correct interests of the students. The fact that finaid is need-blind means that especially desirable students don't get obscene amounts of cash... cash that could better be used to help truly needy students.
Also, your discussion hasn't mentioned the amount of financial aid that an average mit student gets; only 10%-20% pay the full cost of tuition out of pocket.
For the thesis of my final paper, I'm arguing that...