Tools to help you afford the cost of attending MIT
ACCESSIBLE FOR ALL
At MIT, we believe every admitted student is meant to be here, regardless of financial need. An education at MIT is an investment you and your family need to consider carefully, but we promise that the investment is well worth it. We are fully committed to helping our students pay for their education. We provide aid that meets 100% of your family’s demonstrated financial need for all four years of undergraduate study. Our goal is to help make MIT as affordable as possible.
Check out the Student Financial Services website for more information.
Working on Campus
Most students help to pay for their education by taking part in paid research through our Undergraduate Research Opportunities Program. We also have internship programs, work abroad programs, and resources to find jobs on and off campus.
Any student, regardless of financial need, has the opportunity to work on campus. Roughly, 69% of MIT undergrads work, earning about $1,700 a term for 10 hours of work a week.
30,000companies founded by alums
$88,381average starting salary
$19,819average loan debt for undergrads that borrow
Making Sense of Aid
Financial aid is any funding that helps pay for the costs of attending college. It can come in the form of scholarships or grants (which don’t need to be paid back), student loans (which do need to be paid back), and employment opportunities (work-study programs that allow students to earn money while they attend school). Over 90% of undergraduates at MIT receive some form of financial aid. The largest source of financial aid is the MIT Scholarship, a grant that is based solely on financial need and comes from our endowment, gifts from donors, and MIT general funds. All students who apply for financial aid are automatically considered for an MIT Scholarship.
How to Apply for Aid
To apply for financial aid, you’ll need to do three things: fill out the Free Application for Federal Student Aid (FAFSA), complete the CSS Profile application, and submit your tax returns to the Institutional Documentation Service (IDOC) for processing. Because processing sometimes takes a while to complete, it is best to get started early. For more information on what you need to do, visit the Student Financial Services website.