Students from the Class of 2021 who applied for aid with family income up to $90,000 typically pay no tuition.
72% of undergraduate students graduate debt-free.
91% of undergraudate students receive financial aid.
MIT is committed to being financially accessible to the students that we admit. 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, expenses, etc.— is more than $67,000 a year. Believe it or not, the cost of an MIT education is more than double this amount. But MIT subsidizes tuition for all students in order to make it more affordable for all. Even students who don't receive financial aid, benefit from the considerable subsidy when they study here.
There are three principles that govern financial aid and admissions at MIT:
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
Last year, we awarded over $97.1 million in MIT Scholarships to undergraduates. The average student loan debt for those who borrowed was $24,698; 72% of undergrads graduated debt-free, and the average annual starting salary was $84,882.
With our generous financial aid—MIT is within your reach.