Undergraduate expenses
Graduate student expenses
Financial Aid Calculator
How will I finance my family’s share?
Is my family eligible for tax benefits?
HOW WILL I AFFORD AN MIT EDUCATION?
At first glance, MIT can look so expensive that it seems out of reach for most students. This section of the SFS web site gives you some information and strategies to make attendance financially possible for you and your family, both while you’re in school and after you graduate.
As with any budget, there are two sides: expenses and resources.
Expenses
- Tuition and fees
- Housing
- Food
- Personal expenses (books, clothing, computer, transportation, utilities, entertainment, etc.)
Resources
- Family contribution, including students’ savings (and for undergraduate students, their parents’ earnings, savings, parent loans, etc).
- MIT scholarships
- Outside scholarships and grants
- Student loans
- Term-time work (this can include research opportunities taken for pay during the academic-year)
- Summer work
Click on your student category for more detailed budget outlines:
Spring 2010 Medical Insurance Waiver Deadline
The MIT Student Extended Insurance Plan waiver deadline is February 28, 2010. Click here for more information.
Income-Based Repayment for Federal Loans
Income Based Repayment (IBR) is a new repayment plan for the major types of federal loans made to students. Under IBR, your required monthly payment is capped at an amount that is intended to be affordable based on your income and family size. Read more.
MIT Financial Aid Calculator
Not sure if your family will qualify for financial aid? MIT SFS has developed an online calculator to help you determine how much financial aid your family may be eligible for! Click here for more information!
