Families

Tools to help you afford the cost of attending MIT

a parent posing with tim the beaver
  • Our Commitment to Affordability

    Our goal is to help make MIT as affordable as possible. We believe every admitted student is meant to be here, regardless of financial need.

    We are one of only six schools in the country that is need blind, need based and full need for all students, meaning that we don't consider your ability to pay for college in the admissions process, and we are fully committed to meeting 100% of your family’s demonstrated financial need for all four years of undergraduate study. And need based means we don't offer aid for merit, althetics or anything else. Take advantage of our two cost estimators to get an idea of what an MIT education would look like for you financially, or check out the Student Financial Services website for more information.

     

    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 85% of undergraduates at MIT receive some form of financial aid. The largest source of financial aid is the MIT Scholarship, which 57% of undergraduates receive. This scholarship does not need to be repaid, and is based solely on financial need. All students who apply for financial aid are automatically considered for an MIT Scholarship.

     

    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 58% of MIT undergrads work, earning about $1,700 a term for 10 hours of work a week.

     

    How to Apply for Aid

    The process to apply for financial aid is different depending on if you are a domestic or international applicant. To learn more, visit the Student Financial Services website, where you can see what you will need to submit in order to be considered for financial aid, and use our step-by-step guide to help you along in the process.

  • students conversing at a lecture
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$45,146

average MIT Scholarship for undergraduates with need in 2020–2021

82%

MIT undergraduates who graduated debt-free in 2021

$104,617

average starting salary

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