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Update November 2:
To learn more about the 2020–2021 academic year please see our financial support page and our expanded FAQ page. You can also read more about the evolving policies and other key questions related to MIT’s COVID-19 response.

Welcome to MIT Student Financial Services

Resources for students and families

Meet with us virtually

Our customer service and financial aid teams are happy to set up a counseling session on the phone or over Zoom should you or your family have any questions. Please email us at sfs@mit.edu or reach out to your counselor directly if you would like to set up a meeting.

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

$137.5M

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

Average MIT scholarship

$50,483

The average need-based scholarship for undergraduates with need in 2019–2020.

MEET FULL NEED

100%

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

Tuition-free

33%

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

Leaving MIT

78%

The percentage of undergraduates who graduated from MIT debt-free in 2020.

After MIT

$98,741

The average starting salary for a graduating MIT senior entering industry in 2019.

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