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Massachusetts Institute of Technology

Cambridge, MA
Tuition & Aid
Bottom line

For the fall and spring terms, MIT tuition is about $42,000. Room and board averages about $12,000 per academic year, though those costs vary depending on a student’s living situation. Books run about $1,000. MIT admits students without regard to their familys’ circumstances and awards financial aid to students solely on the basis of need. The school is very clear that its sticker price not scare away applicants; approximately 90 percent of undergrads receive some form of aid. They also try to limit the amount of aid provided in loan form, aiming to meet the first $6,000 of need with loans or on-campus work, and covering the remainder of a student’s demonstrated need with a scholarship.
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Visiting And Contact Information

77 Massachusetts Avenue

Room 3-108

Cambridge, MA 02139

United States

Phone: 617-253-3400

Fax: 617-258-8304

Website

Financial Aid Statistics

Receiving any financial aid

Average Freshman Total Need-Based Gift Aid
$36,245
Average Undergraduate Total Need-Based Gift Aid
$36,272
Average Need-Based Loan
$3,021
Average amount of loan debt per graduate
$17,891
Undergraduates who have borrowed through any loan program
38%
Average amount of each freshman scholarship/grant package
$31,240
Financial aid provided to international students
Yes

Expenses per Academic Year

Tuition
$44,720
Required Fees
$296
Average Cost for Books and Supplies
$1,000
Tuition / Fees Vary by Year of Study
No
Available Aid
Financial Aid Methodology Used:Institutional
Scholarships and Grants:Federal Pell
SEOG
State Scholarships / Grants
Private Scholarships
College / University Scholarships
Federal Direct Student Loan Programs:Direct Subsidized Stafford Loans
Direct Unsubsidized Stafford Loans
Direct PLUS Loans
Federal Family Education Loan Program (FFEL):Federal Perkins Loans
College/university loans from institutional funds
Is Institutional Employment Available (other than Federal Work Study):Yes
Highest amount undergraduates earned annually from part-time on-campus work (not including Work Study):$17,903
Direct Lender:Yes

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Financial Aid Application Process

Financial Aid Application Deadline
February
15
Freshman Financial Aid Notification Date
April
1
  • Required Forms
  • FAFSA
    CSS/Financial Aid Profile
    Noncustodial Profile
    Business/Farm Supplement
Office Phone Number :617-258-8600

Tuition and Aid

  • Financial Aid Rating:
    92
  • Tuition:
    $44,720
  • On-Campus Room and Board:
    $13,224
  • Ugrads receiving need-based financial aid:
    76%
  • Avg % of Need Met:
    100%
  • Avg Financial Aid Package:
    $39,503
  • Financial Aid Application Deadline:
    02/15
  • Financial Aid Notification Date:
    04/01
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