Skip to content ↓

Cost & affordability: How much it costs

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 is $79,850. 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.

85% of our students receive some type of financial aid including scholarships and work. The average annual price paid by a student who received financial aid was $17,98601 2020–2021 is the last year for which we have full data. This number includes Pell grants and scholarship grants from non-MIT sources. in the 2020–2021 academic year. 82% of students graduate debt free.02 Those who do borrow have debt at graduation considerably lower than the national average. <a href="https://studentloanhero.com/student-loan-debt-statistics/" target="_blank" rel="noopener noreferrer">Based on the latest figures</a>, college graduates who borrowed owed an average of $28,400 in loans. By comparison, members of the MIT Class of 2021 who took out loans graduated with an average debt of $26,160, 7.9% below the national average. Meanwhile, the average starting salary for an MIT senior entering industry in 2021 was $104,617, making MIT a good return on investment for most students.

We are one of only six American universities that is need blind and full need,03 Prospective students are not disadvantaged in the undergraduate admissions process because of their financial need. We are one of only six schools in the U.S. that is need blind and meets full need for all students, foreign and domestic. which means no student will be disadvantaged in the admissions process because of their financial need. We meet the full financial need of all admitted students who apply for aid, which means we award financial aid based entirely upon your family’s demonstrated 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 MIT while they’re here.

If you want to learn more about undergraduate financial aid, check out the Student Financial Services website.

  1. 2020–2021 is the last year for which we have full data. This number includes Pell grants and scholarship grants from non-MIT sources. back to text
  2. Those who do borrow have debt at graduation considerably lower than the national average. Based on the latest figures, college graduates who borrowed owed an average of $28,400 in loans. By comparison, members of the MIT Class of 2021 who took out loans graduated with an average debt of $26,160, 7.9% below the national average. back to text
  3. Prospective students are not disadvantaged in the undergraduate admissions process because of their financial need. We are one of only six schools in the U.S. that is need blind and meets full need for all students, foreign and domestic. back to text