Tuition and Financial Aid

Undergraduate Tuition and Living Expenses

Nine months’ tuition and fees for 2018–2019 are $51,832.* In addition, undergraduate housing and meals is approximately $15,510 depending on the student’s housing and dining arrangements. Books and personal expenses are about $2,898.

Undergraduate Financial Aid

Selected Undergraduate Financial Aid Statistics, 2017–2018
Average need-based MIT scholarship $51,752
Average need-based financial aid award $49,317
Students awarded a need-based MIT scholarship 59%
Students attending tuition-free 31%
Class of 2018 graduates with no student loan debt 72%
Average student loan debt for those who borrowed $22,560
Average term-time earnings for those who worked $3,432

The Institute’s undergraduate financial aid program ensures that an MIT education is accessible to all qualified candidates regardless of their financial circumstances. MIT provides financial aid to meet the full price of an MIT education, based on the calculated financial need of the family. In 2017–2018, 89% of undergraduates received $149.4 million in financial aid from all sources, with MIT being the largest source. For students with a family income under $90,000, the Institute ensures that scholarship funding from all sources will allow them to attend MIT tuition-free.

Financial need is the difference between the cost to attend MIT and the family’s ability to pay that amount. Need is determined using information parents provide on the Free Application for Federal Student Aid (FAFSA) and the College Scholarship Service (CSS) Profile. The first $3,400 of financial need is designated as self-help and can be met through a combination of term-time work, outside scholarships or grants (including Pell Grants), or student loans. The remaining need, if any, is met with an MIT scholarship. Students receiving scholarships and grants from sources outside MIT may use that aid to replace the student self-help.

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 2018–2019, nine months’ tuition and fees are $51,832 (specific programs and departments may have different tuition amounts).* Summer term tuition in 2018 was approximately $17,155 for students enrolled in courses.

MIT’s residential system can accommodate 38% 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 $800 to $2,075 depending on housing type and location.

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.

Doctoral Student Support, by Type and School, 2017-2018
  RA FE TA Other or none
RA=research assistantship, FE=fellowship, TA=teaching assistantship
Architecture and Planning 50% 23% 22% 5%
Engineering 58% 22% 8% 12%
Humanities, Arts, and Social Sciences 24% 37% 22% 16%
Management 35% 44% 18% 3%
Science 50% 35% 15% 1%
Doctoral Total 51% 28% 12% 8%

* Tuition rates are set by the Academic Council in the spring for the following academic year.