Affording your MIT education
Welcome Class of 2029!
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!
Online financial aid session
On Thursday, March 20 we hosted an online financial aid session and Q&A. The session covered how financial aid and billing works at MIT, our outside scholarship policy, and general information about student employment. In case you weren’t able to make it, we recorded the session and posted it to YouTube.
important facts to know
$0 Parent contribution
<$100,000
Students whose total family income is less than $100,000 a year (with typical assets), do not have a parent contribution. This means that their parents are not expected to contribute toward their student's MIT education.
Tuition-free
<$200,000
Students whose family income is under $200,000 a year (with typical assets) attend MIT tuition-free. This means that your total grant and scholarship aid will cover at least the cost of MIT's tuition.
Debt-free
87%
The percentage of MIT undergraduates who graduated debt-free in 2024.
cost of attendance
The cost of attendance for the 2025–2026 academic year is $89,340. However, you should know that most students pay far less because of our need-based financial aid. In fact, 87% of MIT students graduated debt-free in 2024.
If you are eligible for financial aid 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! It will help you map out how much you’ll need for a year at MIT.
You can break things down by year or semester, then download your budget and manage your expenses as you go.
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 will meet your full financial need for all four years of your undergraduate career.
- Need based
- Need based means that we offer 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.