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Cost and aid: How much it costs

We are committed to helping our students pay for their education, and award aid that meets 100% of financial need.

The big picture

The annual full price of an MIT education is $70,240. However, most students who attend MIT pay far less than that due to our full-need financial aid, which means we meet 100% of demonstrated financial need for all admitted students through several types of aid.

As a result, last year the average total price paid by an MIT student receiving need-based aid was $23,000, which is less than the cost of attending the average public university as an in-state student. Overall, we awarded nearly $120 million in scholarships, and 72% of students graduated debt free.01 Those who do borrow have debt at graduation considerably lower than the national average. Nationally, in 2017, graduates of four-year colleges who borrowed owed an average of $28,699 in loans. By comparison, members of the MIT Class of 2017 who took out loans graduated with an average debt of $19,819, way below the national average. Meanwhile, the average starting salary for a MIT senior entering industry last year was $88,381, making MIT a good return on investment for most students.

We are also one of only five American universities that is also need blind for all applicants, which means no student will be disadvantaged in the admissions process because of their financial need. We are also need only, which means we only award financial aid on the basis on financial need, and not any measure of merit.

The important thing we hope you understand is that money won’t get you in to MIT, and money shouldn’t keep you out. Our goal is to admit and enroll the best students from around the world regardless of their financial circumstances, and make sure they can afford our education while they’re here.

If you want to learn more about our undergraduate financial aid, you can do so at the Student Financial Services website.

  1. Those who do borrow have debt at graduation considerably lower than the national average. Nationally, in 2017, graduates of four-year colleges who borrowed owed an average of $28,699 in loans. By comparison, members of the MIT Class of 2017 who took out loans graduated with an average debt of $19,819, way below the national average. back to text