MIT is committed to being financially accessible. If you belong here, then we will work with you and your family to help you finance your education.
The total price for MIT—tuition and fees, housing and dining, and personal expenses—is more than $70,000 a year. But MIT is committed to making it affordable for all. Today, six out of every 10 students receive MIT need-based aid. The average price they pay for tuition, fees, books, supplies, room, board and other expenses is about $23,000—considerably lower than our published price.
Our admissions process at MIT is need-blind for all students, foreign and domestic. This means you will not be disadvantaged in the admissions process because of your financial need. We won't admit you because you can pay full-freight, and we won't deny you because you can't pay a nickel. It's your mettle, not your money, that gets you into MIT.
MIT awards financial aid only on the basis of financial need. We do not award money based on any measure of merit—academic, athletic, artistic—or anything else.
You may qualify for private scholarships based on your merits; if you do, then they become part of your financial aid package. Many students use FastWeb to search for outside scholarships.
Meet Full Need
We will meet 100% of a family’s calculated need through a mix of scholarships, grants, loans and student work opportunities. Last year, we awarded over $119.7 million in MIT Scholarships (need based grants) to undergraduates. Students with a family income up to $90,000 typically paid no tuition. Over 70% of undergrads graduated debt-free, and the average student loan debt for those who borrowed was under $20,000.