Following Stuart Schmill’s graduation from MIT, he spent a year working as a project engineer at General Motors before returning to the Institute in a professional role. Since then, he has served in a variety of positions, including director of crew; director of Parent, Student, and Young Alumni Programs in the MIT Alumni Association; and director of the MIT Educational Council. He became dean of admissions in 2008 and added Student Financial Services to his portfolio in 2016. Schmill spoke with the MIT Office of Gift Planning about MIT’s distinctive admissions policies and gift planning’s role in generating scholarship support.

What makes the admissions and financial aid policies at MIT different than those of its peer institutions?

SS: We are proud that MIT’s undergraduate admissions and financial aid policies allow us to live our values. We are one of a small number of US colleges and universities that make admissions decisions without regard to whether the student can afford to pay, and one of only five that can say this for both US and international students. Furthermore, we are one of a very small number of schools to offer completely meritocratic admissions policies: we grant no extra advantage for the children or grandchildren of MIT alumni. And, while we have students with exceptional extracurricular talent, such as in athletics, every student meets the same high academic standards. Finally, we do not offer merit scholarships of any kind—the financial aid we offer to undergraduate students is based only on financial need. This allows us to use our funds most efficiently for the families that need aid the most.

How has the admissions process been affected by the Covid-19 pandemic? 

We are suspending our SAT/ACT requirement in the 2020–2021 application cycle and expanding the number of tests that can be used to demonstrate English proficiency. More generally, we are committed to upholding our longstanding general policy for disasters and disruptions, in which we remind students to focus first “on taking care of yourself, your family, your community, and your safety." We do not penalize them for crises beyond their control. These topics are outlined in more detail on the MIT Admissions blog.

What is the median amount of an MIT scholarship, and how are MIT scholarships funded?

SS: The median scholarship in the 2019–2020 academic year was approximately $56,000, more than our nearly $53,500 tuition and fees. Almost all of MIT scholarship funds come from philanthropy.

What are the main challenges that you and your team face? 

SS: Maintaining need-blind admissions and full need financial aid policies for all undergraduates is expensive—this is why policies such as ours are so rare. MIT has made this commitment, but the costs of maintaining our financial aid program are rising faster than our revenues. Securing our ability to maintain MIT’s meritocratic principles and values will depend on the continued generosity of our alumni and friends as well as the commitment we make as a community. 

What role can planned giving play in funding scholarships?

SS: Almost all of MIT scholarship funds come from philanthropy: Our scholarship support is so robust because of the generosity of our alumni and friends who make scholarship gifts in a variety of ways. A scholarship funded through a life-income or bequest gift will establish a lasting legacy for the donor while supporting MIT students who will go on to make their own mark on the world. Donors’ foresight when planning their estate can help to ensure that we can support students today and into the future. 

To learn more about how scholarships make a difference in the lives of MIT students, visit the Better World website.