The annual student budget is the total price of an MIT education—per student, per year.
The annual student budget, or cost of attendance, is the total amount we estimate it will cost a student to attend MIT for one year. For the 2024–2025 academic year, the cost of attendance is $85,960. It includes costs that are billed by MIT, such as tuition, housing, and food, and estimates for other expenses, such as books, supplies, and personal expenses. We use this budget to determine financial aid for every student.
However, you should know that most students pay far less with our need-based financial aid. The median annual price paid by an undergraduate who received an MIT Scholarship was $12,715 for the 2022–2023 academic year. We work with all financial aid applicants to make sure an MIT education is affordable for them.
Cost of attendance for the 2024–2025 academic year:
| Expense | Cost | Description |
|---|---|---|
| Tuition | $61,990 | In addition to providing cutting-edge research facilities and faculty, tuition also provides access to urgent care, mental health visits, and specialist care at MIT Health for no extra cost.
Please note that additional health insurance is required for all students. Learn more at MIT Health. |
| Student life fee | $406 | This helps to support student clubs, organizations, and sports and fitness centers. Every student has unlimited access to on-campus gyms as well as fitness and wellness classes. |
| Housing | $13,060 | All first-year students are required to live on campus. While our residence halls and living groups vary in cost, we calculate financial aid based on $13,060 a year for housing, which covers the cost of the most expensive double room. We’ll bill you in July for $6,530 (one semester of the most expensive double room), then adjust it based on your actual housing cost in September. If you choose to live in a room that costs more or less than $13,060 your financial aid will not change. |
| Food | $7,220 | While there are multiple dining plan options, including cooking for yourself, we calculate financial aid based on $7,220 a year for meals. This covers the most expensive meal plan and will stay the same regardless of your actual expenses. Learn more at MIT Dining.
Please note: We will not bill you if you choose the cook for yourself option. However, this amount won’t change regardless of the meal plan you choose. |
| Books, course materials, supplies & equipment |
$910 | This out-of-pocket expense can vary depending on the student. MIT estimates $910 for these expenses, regardless of how much you spend. |
| Miscellaneous personal expenses | $2,374 | MIT estimates this amount for expenses such as clothes, laundry, and other bills, regardless of how much you spend. |
| Total | $85,960 | Remember, this is the full price, before any aid. |
Note: Depending upon where you live, your award may also include a travel allowance.