Actually, MIT has need-blind admission AND guarantees to meet 100% of all admitted students' financial need (as determined by FAFSA). I got well over $120,000 in scholarships without which I couldn't have gone.

How long has this been going on and how well is it publicized? A dozen years ago when I was applying to colleges, I really wanted to go to MIT but tuition was more than my mom earned a year so I didn't even apply. That's great if other good students can avoid missing out like I did.

That's a real shame and, sadly, that kind of thing is pretty common. The school's commitment to meeting 100% of need is not very well publicized, unfortunately. Even now, I talk to many really promising high school students who are discouraged from applying to MIT for the very same reasons you were.

The need-blind admission has been going on forever and the commitment to meet 100% of financial need has been going on for a long time, though I can only say with certainty that it's been in play since 1998 (when I first started looking seriously at the MIT admissions materials).

The good news is that a lot of other "elite" schools are doing this now too. If anyone here knows a smart kid with an expensive dream school, definitely advise them to apply now and worry about the money later.