Prospective freshmen and transfers
Enrolled undergraduates
Graduate and professional students
After you’re awarded aid
Special circumstances
Financial aid background
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 guarnattes 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 2007-08 "MITGO" figures for undergraduates.
Scholarships |
Loans |
General facts |
Jobs |
Price and income |
83% Total financial aid in the form of scholarships and grants |
9% Total financial aid in the form of loans |
93million $ Scholarships, loans and jobs from all sources |
8% Total financial aid in the form of term-time work |
50,100$ What it costs to go to MIT in 2007-08 |
78million $ Scholarships and grants from all sources |
5,500$ Average annual student loan total |
90% Students receiving aid (all types and sources) |
2,750$ Average student term-time earnings |
36,390$ Tuition and fees |
70% Students receiving scholarships and grants from any source |
37% Students borrowing from any source |
Free spot
|
61% Students working |
10,860$ Room and board |
26,800$ Average MIT scholarship |
14,150$ Average debt at graduation |
62% Students receiving need-based aid (scholarship, loan and/or job) |
1,900$ Freshman summer earnings expectation |
2,850$ Books, supplies and personal expenses |
58% Students receiving an MIT scholarship |
49% Graduating seniors who borrowed as undergrads |
15% Students with a Pell Grant |
4,700$ Standard self-help expectation ($2,800 for families earning less than $75,000) |
84,500$ Median family income of families receiving need-based aid |
