Undergraduate costs
Graduate student costs
How will I pay my family’s share?
Is my family eligible for tax benefits?
UNDERGRADUATE COSTS
The first thing you should know is that relatively few MIT undergraduates (and their families) pay the full price out of pocket. Instead, they use some combination of MIT scholarships, savings, student and parent loans, and term-time and summer jobs to meet their total expenses. This requires some research and careful planning of your current and future budget.
The estimated total price for 2007-08 for undergraduates is $48,200. This breaks down as follows:
| Tuition and fees | $34,986 |
| Room and meals | $10,400 |
| Books and personal expenses | $2,814 |
| Total cost for MIT undergraduates | $48,200 |
Your actual costs will vary depending on choices of dining and housing options, travel expenses, other out-of-pocket expenses, etc. You can get a more accurate estimate by using our student budget worksheet. Then you can learn more about how much of the expense you’ll actually be charged by clicking on How much will I have to pay?
Your price has two categories: things that MIT charges for, and things you must pay for out of pocket.
MIT expenses
Below are some of the amounts charged by MIT for the 2007-08 academic year. These figures do not include costs for the summer term from June through August.
| Expense | What most students are charged | Details |
|---|---|---|
| Tuition and fees | $34,986 | Registrar’s Office |
| Housing (on-campus residence hall) | $3,858 to $6,638 | Housing Office |
| Student Medical Plan | $0 | MIT Medical |
| Student Extended Insurance Plan 1 | $1,440 | MIT Medical |
1 Some form of hospital insurance is required by Massachusetts law. As part of the basic tuition fee, MIT provides the basic Student Medical Plan but also charges all students for the Student Extended Insurance Plan, which provides hospitalization coverage. However, students who can demonstrate that they already have comparable coverage under another insurance program are granted a waiver from the Student Extended Insurance Plan. There are additional charges for coverage of partners and dependents under both the Student Medical Plan and the Extended Student Insurance Plan. Click here for a chart that compares all services and rates offered by MIT Medical to students and their families.
Out-of-pocket expenses
There are other costs that are not billed by MIT that you should take into account when planning your budget, such as:
- Food (other than food paid for in your dining plan)
- Phone charges
- Utilities – heat, water, gas, electricity (if you live in an apartment where these are not included in the rent)
- Books
- Local transportation (getting around Cambridge and Boston by bike, car or public transportation)
- Travel (for example, airfare for visiting your family or others)
- Miscellaneous expenses – computer equipment, clothing, entertainment, etc
Class of ’06
Teri is just one of thousands of students who've been able to attend MIT because MIT meets every student's full financial need.
{ Learn more }There are hundreds of outside private scholarships for every type of student.
