I propose an option for undergraduates to pay for their education out of their salaries after they graduate. Perhaps they agree to pay MIT a minimum of 5% of their income every year until the sum of the percentage points paid totals 100. With the average starting annual salary for this recent batch of undergrads at $66,874 (1), making MIT nearly $90,000 off the average minimum payment-maker, assuming an average increase in income of 3 percent per year (2). This would also help alleviate the debt that deters many students from careers outside the private sector.

(1) http://web.mit.edu/facts/alum.html
(2) http://www.nbcnews.com/business/3-percent-pay-raise-new-normal-2013-1C71...