MIT makes financial support available to graduate students from a variety of sources and in several different forms. Many forms of support are granted solely on the basis of merit; others are granted on the basis of financial need, a combination of merit and need, or on other factors. Neither departments nor the Institute has the financial resources to provide support for all deserving students. Thus, it is important that prospective students explore sources of aid available outside MIT to find means for financing their graduate programs.

In general, for graduate students, a fellowship or traineeship is an award to an undergraduate or graduate student that covers tuition, partially or fully, and provides a stipend to help defray living expenses.  Typically, funding includes tuition and a monthly stipend, although some fellowship resources specifically include required fees.

For graduate students, a scholarship is an award that provides partial or full tuition only.  

A grant may include one or more of the following: tuition support, stipend, travel expenses, fees, books, room and board.