Undergraduate expenses
Graduate student expenses
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:
Check out our publication on financing your education at MIT!
You can find many facts about financial aid at MIT by reading our guide to Financing Your MIT Education.
Get your student account refund FAST!
If your student account has been overpaid, the fastest way to get your refund is through MITPAY’s direct deposit option. You can sign up for direct deposit on MITPAY at any time. Your refund will be deposited into your bank account within two-business days after being processed. If you are graduating this spring, make sure that we have your correct banking information in MITPAY so that we can return funds to you, even after you leave campus.
