If you are accepted to MIT, we want to make it possible for you to attend. MIT has generous financial aid. Ninety percent of MIT students receive financial aid from some source to make up the difference between the cost of education and what their family can reasonably contribute.
Below are a few examples of aid packages that show how families with different circumstances afford an MIT education. Please note that these are only examples! All applicants are considered independently, in their own circumstances, under our guiding principles of need-blind, need-only, and full-need financial aid.
Student A comes from a family where both parents are employed with a combined income of $23,000 and assets totaling $2,000. The student is the only child.
|
Student budget with travel |
$55,370 |
|
What the family pays |
$1,900 |
|
|
Financial aid package: |
|
MIT scholarship |
$43,920 |
|
Federal Pell Grant |
$5,550 |
|
Federal SEOG Grant |
$4,000 |
|
|
|
|
Total aid package: |
$53,470 |
|
Student B comes from a two-parent family with both employed with a combined income of $70,600 and assets equal to $16,500. The student has one sibling in college and one younger sibling not in college.
|
Student budget with travel |
$55,370 |
|
What the family pays |
$4,200 |
|
|
Financial aid package: |
|
MIT scholarship |
$46,770 |
|
Federal Pell Grant |
$1,100 |
|
Term-Time Work Eligibility |
$3,000 |
|
Student Loan Eligibility |
$300 |
|
|
|
|
Total aid package: |
$51,170 |
|
Student C comes from an international family of four, two employed parents, the student and one sibling not in college. The family earns a U.S. dollar equivalent of $103,700 and has assets of $426,100.
|
Student budget without travel but includes student health insurance |
$57,010
|
|
What the family pays |
$36,600
(higher ratio to income due to international GDP) |
|
|
Financial aid package: |
|
MIT scholarship |
$14,410 |
|
Term-Time Work Eligibility |
$3,000 |
|
Student Loan Eligibility |
$3,000 |
|
|
|
|
Total aid package: |
$20,410 |
|
* In addition to any family contribution, International families are expected to fund the cost of travel to and from the U.S. throughout a student's attendance.
Student D comes from a family with two working parents and a younger, non-college aged sibling. The parents earn a combined income of $125,000 and has $118,600 in assets.
|
Student budget with travel |
$55,670
|
|
What the family pays |
$21,400 |
|
|
Financial aid package: |
|
MIT scholarship |
$28,270 |
|
Private scholarship |
$1,000 |
|
Term-Time Work Eligibility |
$3,000 |
|
Student Loan Eligibility |
$2,000 |
|
|
|
|
Total aid package: |
$34,270 |
|
Student E is part of a family of three where both the mother and father are employed. Their combined income is $190,400 and their total family assets arel $164,400.
|
Student budget |
$55,270 |
|
What the family pays |
$49,270 |
|
|
Financial aid package: |
|
Term-Time Work Eligibility |
$3,000 |
|
Student Loan Eligiblity |
$3,000 |
|
|
|
|
Total aid package: |
$6,000 |
|