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Cost of attendance

The cost of attendance is the total amount we estimate it will cost a student to attend MIT for the year. We use this budget to determine financial aid for every student who applies for aid.

Our approach to aid

At MIT, we are committed to helping our students pay for their education. The price of an MIT education varies for each student depending on how much they can afford, but our commitment to affordability remains a constant.

How to apply for aid

We offer several forms of aid. The most common type of aid is the MIT Scholarship. If you receive one, it is a grant that does not need to be repaid.

By the numbers

Affordable for families


Families with income below this level (and typical assets) have a $0 parent contribution.



Most students with a family income below this level (and typical assets) do not pay tuition.



The percentage of MIT undergraduates who graduated debt-free in 2023.

Key terms for undergraduate students

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 approach to aid →