MIT Student Financial Services Loans

MITGO for undergraduates

Interested in MIT but not sure you can afford it? You should know that MIT has need-blind admissions (we don't look at your finances when considering you for admission). Once you're admitted, MIT also guarantees that we will meet your full financial need for all four years of your undergraduate career.

Bingo is a game of chance, but affording your MIT education is only a matter of your need, not luck. Check out some of these "MITGO" figures for undergraduates.

 

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Scholarships

Loans

General facts

Jobs

Price and income

85

Percent of undergraduate financial aid that is scholarship and grant

7

Percent of total undergraduate financial aid that is student loans

125.7

Million in undergraduate financial aid from all sources

8

Percent of undergraduate financial aid that is term-time work

61,030

Annual sticker price

87.9

Million in MIT need-based scholarships

13,000

Median debt at graduation for those who borrowed

91

Percent undergraduates receiving aid (all types and sources)

3,088

Average term-time earnings for those who worked

44,720

Annual tuition and fees

32

Percent receiving scholarships and grants greater than tuition

4

Percent of MIT families borrowing a parent loan

Free Spot

We Try, MIT is the largest souce of undergraduate financial aid

68

Percent of undergraduates working term-time

13,244

Annual housing and dining

34,551

Average MIT need-based scholarship

19,064

Average debt at graduation for those who borrowed

59

Percent receiving need-based aid

1,900

Freshmen summer earnings expectation

2,790

Annual books, supplies and personal expenses

56

Percent receiving an MIT need-based scholarship

40

Percent of graduating students borrowing

18

Percent receiving a Federal Pell Grant

6,000

Standard student self-help expectation (term-time work and/or student loan)

88,800

Median income of families receiving need-based aid

 
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