MIT Student Financial Services How will I afford an MIT education


You can claim federal income tax credits for money you pay out of pocket or borrow for tuition and related expenses for your dependent child, yourself or other qualified family members.

MIT submits a 1098-T form to the government for each student detailing the tuition amounts billed. The Tax Credit Reporting Service collects this information and provides a copy of the completed 1098-T form to the student for inclusion with the student’s or parent's tax return (IRS Form 8863).

Students can get their 1098-T forms generated electronically and e-mailed to them. If you’re a student, go to and click on “Access My Record.” After the form is completed, the Tax Credit Reporting Service will send a message to the e-mail address you specified; you must then log on again using a PIN to download the completed form. If the notification e-mail bounces back, a paper version will be automatically mailed to your permanent address if you are a domestic student. If you successfully receive the form electronically, you will not get a paper copy.

MIT cannot provide tax advice. For more information on education tax incentives, consult a qualified tax advisor, call the IRS help line at 800-829-1040 or visit one of these web sites:

Tax Benefits for Higher Education (IRS publication 970):

Web version

IRS Form 8863 and instructions PDF

FAQs from the IRS on education tax credits

Student Stories Fausto Morales
Class of '12

Fausto is one of thousands of students who are paying much less than MIT's "sticker price" - because we meet every student's full financial need.

Outside scholarships

There are hundreds of outside private scholarships for every type of student.