MIT makes financial support available to graduate students from a variety of sources and in several different forms. Some 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 the department 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 include specific required fees. Both the Graduate Student Council and Student Financial Services offer information about typical graduate student expenses.
MIT has established a prestigious program of Presidential Fellowships to recruit the most outstanding students worldwide to pursue graduate studies at the Institute. This program is administered by the Office of the Dean for Graduate Education in concert with MIT's Schools and departments.
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.