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.

 

M

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Scholarships

Loans

General facts

Jobs

Price and income

86

Percent of undergraduate financial aid that is scholarship and grant

7

Percent of total undergraduate financial aid that is student loans

123.7

Million in undergraduate financial aid from all sources

7

Percent of undergraduate financial aid that is term-time work

59,020

Annual sticker price

87.1

Million in MIT need-based scholarships

10,948

Median debt at graduation for those who borrowed

90

Percent undergraduates receiving aid (all types and sources)

3,058

Average term-time earnings for those who worked

43,498

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

65

Percent of undergraduates working term-time

12,744

Annual housing and dining

33,697

Average MIT need-based scholarship

17,900

Average debt at graduation for those who borrowed

61

Percent receiving need-based aid

1,900

Freshmen summer earnings expectation

2,778

Annual books, supplies and personal expenses

58

Percent receiving an MIT need-based scholarship

41

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)

88,900

Median income of families receiving need-based aid

 
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