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Welcome to MIT Student Financial Services

Resources for students and families

How can we help you today?

At SFS, our combined office provides financial aid, collects payments, coordinates jobs, and advises on financial literacy. If you have a question about money while you’re here, come to us first.

Affording your education

Our goal is to help you understand your options and select the best ones for you and your family. We award need-based financial aid from MIT and coordinate the receipt of aid from other sources.

Billing and repayment

We understand that everyone’s situation is different. We work with you and provide counseling on available financing options. We also offer resources to help you improve your financial literacy and make good choices.

Customer service

We strive to provide accurate, friendly, and timely customer service to all of our students and their families. If you need to talk to someone—contact us and we’ll help you out.

By the numbers

Total MIT Scholarships

$136.3M

The amount we expect to award in MIT Scholarships (need-based grants) to undergraduates for the 2019–2020 academic year.

Average MIT scholarship

$51,500

The average need-based scholarship for undergraduates with need last year.

MEET FULL NEED

100%

We meet 100% of an undergraduate's demonstrated need through our types of aid.

Tuition-free

31%

The percentage of MIT undergraduates who don’t pay tuition due to our need-based aid.

Leaving MIT

72%

The percentage of undergraduates who graduate from MIT debt-free.

After MIT

$89,710

The average starting salary for a graduating MIT senior entering industry in 2018.

We’re here for you

We know an education at MIT is an investment you and your family need to consider carefully. We’re here to help. Feel free to reach out to the Student Financial Services team if you have any questions about financial aid or billing.

Stu Schmill '86 Dean of Admissions and Student Financial Services