We are committed to helping our students pay for their education, and award aid that meets 100% of demonstrated financial need.
The big picture
The full price of an MIT education for the 2019–20 academic year is $73,160. However, most students pay far less than that. We offer full-need financial aid, which means we meet 100% of demonstrated financial need for all admitted students through several types of aid.
The average annual total price paid by an MIT student receiving need-based aid is about $23,000, which is less than the cost of attending the average public university as an in-state student. Overall, 89% of our students receive some type of financial aid including scholarships and work, and 72% of students graduate Those who do borrow have debt at graduation considerably lower than the national average. <a href="https://trends.collegeboard.org/student-aid" target="_blank" rel="noopener noreferrer">Nationally in 2017</a>, graduates of four-year colleges who borrowed owed an average of $28,500 in loans. By comparison, members of the Class of 2018 who took out loans graduated with an average debt of $22,560, way below the national average. Meanwhile, the average starting salary for an MIT senior entering industry in 2018 was $89,710, making MIT a good return on investment for most students.
We are one of only five American universities that is need blind for all applicants in Admissions, which means no student will be disadvantaged in the admissions process because of their financial need. We meet the full financial need for only need-based financial aid students, which means we award financial aid based entirely upon your family’s financial need—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.
- 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 $28,500 in loans. By comparison, members of the Class of 2018 who took out loans graduated with an average debt of $22,560, way below the national average. back to text ↑