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Tuition and Financial Aid

Undergraduate Tuition and Living Expenses

The Institute's undergraduate financial aid program ensures that an MIT education is accessible to all qualified candidates regardless of their financial resources. MIT provides financial aid to meet

the full cost of an MIT education, based on the calculated needs of the family. In 2010–2011, approximately 65 percent of all undergraduates received some type of need-based financial aid.

Undergraduate Financial Aid

Financial aid eligibility is determined using information provided by the family on the Free Application for Federal Student Aid (FAFSA) and the College Scholarship Service (CSS) Profile. MIT then establishes the parents' and the student's contributions. Additionally, all aid recipients are expected to meet a portion of their need through a loan, part-time job, or both. This "self-help" component is set annually (in 2011–2012, $4,400 for students from families earning $75,000 or less, and $6,000 for all other students). The balance is met with MIT scholarships. In 2010–2011, the average need-based financial aid package was $38,964.

Visit Student Financial Services for additional information about financial aid.

Graduate Tuition and Living Expenses

Graduate students generally incur greater expenses than undergraduates. Most attend the Institute for a calendar year rather than an academic year, increasing the cost of tuition. In 2011–2012, nine months' tuition and fees is $40,732 (specific programs and departments may have different tuition amounts).* Summer term tuition in 2011 was $13,480 for students enrolled in courses.

MIT's residential system can accommodate about one-third of its graduate students; the rest find housing in the Boston/Cambridge area. Graduate students' costs for housing, food, books, medical insurance, and incidentals vary widely, depending on marital status, quality-of-life expectations, and housing arrangements. For example, monthly charges for on-campus housing range from $709 to $1,583 for single students and from $1,152 to $1,704 for family housing.

Graduate Financial Aid

Financial aid for graduate students is in large part provided by individual departments, and the amount of aid varies significantly. Financial support includes fellowships, traineeships, teaching and research assistantships, and loans. Most forms of support are granted for merit, while others are granted for financial need or a combination of merit and need.

* Tuition rates are set by the Registrar's Office in the spring for the following academic year.