[jfv]

Hmm, don't think I understand your first argument. If 72% of MIT undergraduates graduate without loan debt, this almost certainly includes all of the students (29%) coming from the top 5%.

There are certainly people that are dissuaded from MIT for cost reasons, and money could be used to solve that problem.

[uxp100]

No, that doesn't follow. Students coming from the top 5% can have loan debt. The top 5% includes many (mostly?) families that could not afford to pay out of pocket for MIT, and even those that could may choose not to.