Affording your MIT education for the Class of 2027
We work to make MIT affordable for every family.
guide for admitted students and families
Take a few minutes to look through our guide for admitted students. We’ve included most of the things that students and families should know about financial aid, estimated costs, and additional sources of funding. It’s a great place to get started!
cost of attendance
The cost of attendance for the 2023–2024 academic year is $82,730. We’ll meet 100% of your demonstrated need for all four years of your undergraduate career. If the cost of attendance goes up, so will your MIT Scholarship.
If you haven’t applied for financial aid yet, we encourage you to do so. You may be surprised by how we can help.
budgeting worksheet
Make sure to use our budgeting tool to help map out how much you’ll need for a year at MIT.
You can break things down by year or semester, and save your budget to manage your expenses as you go.
facts and figures
Affordable education
$53,997
The average need-based MIT Scholarship awarded to undergraduate students in 2021–2022.
Tuition-free
<$140,000
Most students with a family income below this level (and typical assets) do not pay tuition.
Debt-free
85%
The percentage of MIT undergraduates who graduate debt-free.
we are here to help
Questions?
We are always available to talk through our financial aid process or answer any questions you may have.
We meet your full financial need for all four years of your undergraduate career.
- Need based
- Need based means that we award financial aid entirely based on your family's financial circumstances.
- Full need
- Full need means that we meet 100% of your family's demonstrated need through scholarships, grants, and student employment.
Our office will be closed for an Institute event on Monday, June 5, from 2:45–5 PM.