Cost and Aid
Tuition, Fees, and Financial Aid
Tuition
Tuition for the MSRED program is $53,800 (2007-2008 academic year), $40,000 for fall and spring terms combined, and $13,800 for the summer term. Firm tuition rates for the following year are established each spring. See the MIT Facts page for more information about costs.
Living Costs
The additional costs of housing, food, medical insurance, books, and personal items may amount to more than $18,000 for a single student. This figure is a guideline only; living expenses should be estimated individually by applicants. Contact the MIT Graduate Housing Office, (617) 253-5148, for information on the availability and cost of student housing.
Loans and Fellowships
A graduate student who is a US citizen or permanent resident should look for loan assistance first through the Federal Stafford Student Loan Program. The maximum loan per year is $8,500. Application forms and details of the application procedure may be obtained at the Student Financial Services Room 11-120, (617) 253-4971. This office is also a good source of information on other types of loans which may be available.
International students who are not US citizens or who do not possess a permanent resident visa are not eligible for federal loans. They must be prepared to meet their expenses for the year without recourse to loans from the Institute.
Graduate students enrolled in the program may be eligible for a limited number of fellowships and awards. Past fellowships include those given by the RREEF Funds--$5,000 to a minority student; the American Society of Real Estate Councilors (ASREC)--$2,000; the Thomas J. Geraghty Memorial Scholarship--$2,500; the International Council of Shopping Centers (ICSC)--$5,000; and the Heather Smith Memorial Scholarship--up to $20,000 to a woman enrolled in the MSRED program. These awards are given at the discretion of the funder and may not be offered every year. Information about fellowships is made available to enrolled students as it is received by the Center throughout the year.
The MIT Center for Real Estate also offers its own fellowships. To encourage careers in the public and nonprofit sectors, students who accept jobs in those areas following graduation are eligible for an award to partially repay existing student loans. A Center fellowship may also be available to minority students. For more information please see the FAQ section.
