Tools to help you afford the cost of attending MIT
OUR COMMITTMENT TO A FAIR PRICE
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 five schools in the country that is need-blind and full-need, 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. 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.
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 71% of MIT undergrads work, earning about $1,700 a term for 10 hours of work a week.
$47,593average need-based MIT Scholarship awarded to undergraduate students in 2018–2019
76%MIT undergraduates who graduated debt-free in 2019
$89,710average starting salary
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, which 59% 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.
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.