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How graduate funding works: Graduate cost of attendance

The annual graduate student budget, or cost of attendance, is the total price of an MIT education—per student, per year.

The cost of attendance is the total amount we estimate it will cost a graduate student to attend MIT for one year. ⁠It includes costs that are billed by MIT, such as tuition, housing, and dining, and estimates for other expenses, such as books, supplies, and personal expenses. We use this budget to determine the loan eligibility01 Loan eligibility is the maximum amount you can borrow in loans in a given year   for every student.

Cost of attendance

The chart below is an account of costs and fees associated with an MIT graduate education prior to any stipends or aid.

  • The standard academic year of September–May is shown in the 9-month cost column.
  • The 12-month cost column is used if a student is also registered for the summer academic session.

Please note: If your student health insurance is covered via a Fellowship, Research Assistant or Teaching Assistant appointment, you are still responsible for the enrollment and cost of the Student Extended Health Insurance premium for a spouse or partner and any dependents.

2022–2023 cost of attendance

Expense 9-month Cost 12-month Cost
Tuition*02 Tuition covers your specific graduate program.   $57,590 $77,485
Fees03 These help fund student clubs, organizations, and the sports and fitness center.   $396 $396
Health insurance**04 The MIT Student Extended Insurance Plan is a comprehensive insurance plan that meets state and federal health insurance requirements and J-1 visa requirements. Learn more on the <a href="https://medical.mit.edu/mit-health-plans/student-health-plans" target="_blank" rel="noopener noreferrer">MIT Medical website</a>.   $3,089 $3,089
Housing05 We want to give applicants a realistic assessment of the costs associated with a graduate education. Living costs in the Cambridge and Greater Boston area are among the highest in the United States. To see a further breakdown of possible living expenses, please visit our <a href="https://gradadmissions.mit.edu/costs-funding/estimated-living-expenses" target="_blank" rel="noopener noreferrer">Graduate Admissions website</a>.   $17,100 $22,800
Food06 Food budgets vary depending on the individual, but we use the following numbers to calculate your loan eligibility.   $6,777 $9,036
Books & supplies07 This out-of-pocket expense can vary depending on the student, but we use these numbers to calculate your loan eligibility.   $1,008 $1,344
Personal08 This out-of-pocket expense varies a lot depending on the student, but we use these numbers to calculate your loan eligibility. This covers things like clothes, laundry, phone, Internet, and personal care.   $6,768 $9,024
Transportation09 This includes your transportation around the city (MIT subsidizes 50% of the cost of <a href="https://web.mit.edu/facilities/transportation/tpass/students.html" target="_blank" rel="noopener noreferrer">MBTA T-passes</a>), as well as money used to travel to and from campus.   $2,457 $3,276
Total10 This is the "full" price, <strong>before</strong> any loans are applied.   $95,185 $126,450

*Graduate programs at the Sloan School of Management have their own tuition, and certain other graduate programs at MIT also employ “non-standard” tuitionSpecial students and visiting students should refer to the tuition and fee information specific to them.

**Health insurance is only included in the cost of attendance if enrolled in the MIT Student Extended Health Insurance.

What if my expenses are higher than the cost of attendance estimates?

When looking at loan options, the maximum amount you may borrow is the total cost of attendance amount, minus any financial aid you receive from MIT or outside sources (this includes funding from employers). If you do not see the funding you received, or will receive, reported in your financial aid award, please reach out to us at sfs@mit.edu as this will impact your loan eligibility.

Federal Loan fees will be automatically included in your loan borrowing eligibility.

If your actual living expenses are significantly higher than the cost of attendance, you can submit an appeal and we may be able to adjust your budget and increase your loan eligibility. Visit the loan appeals page for details.

Computer purchases

When you take out a loan for your educational expenses, the amount you can borrow is based on the cost of attendance. For first time loan borrowers, MIT includes a $2,000 allowance for a computer. This lets you to take out a bit more in order to purchase a computer if you need one.

If taking out a loan creates a credit on your student account, you may request a refund and put it towards your computer.

Loaner laptops

If you need to borrow a laptop while your computer order is being processed/shipped, please visit the IS&T website to request a short-term loaner laptop.

  1. Loan eligibility is the maximum amount you can borrow in loans in a given year back to text
  2. Tuition covers your specific graduate program. back to text
  3. These help fund student clubs, organizations, and the sports and fitness center. back to text
  4. The MIT Student Extended Insurance Plan is a comprehensive insurance plan that meets state and federal health insurance requirements and J-1 visa requirements. Learn more on the MIT Medical website. back to text
  5. We want to give applicants a realistic assessment of the costs associated with a graduate education. Living costs in the Cambridge and Greater Boston area are among the highest in the United States. To see a further breakdown of possible living expenses, please visit our Graduate Admissions website. back to text
  6. Food budgets vary depending on the individual, but we use the following numbers to calculate your loan eligibility. back to text
  7. This out-of-pocket expense can vary depending on the student, but we use these numbers to calculate your loan eligibility. back to text
  8. This out-of-pocket expense varies a lot depending on the student, but we use these numbers to calculate your loan eligibility. This covers things like clothes, laundry, phone, Internet, and personal care. back to text
  9. This includes your transportation around the city (MIT subsidizes 50% of the cost of MBTA T-passes), as well as money used to travel to and from campus. back to text
  10. This is the "full" price, before any loans are applied. back to text