At the graduate level, MIT financial aid is largely decentralized, as available funds are managed directly by departments.
Funding is usually available by departments to support doctoral students for the cost of full tuition, stipend, and health insurance for the duration of their time at MIT. Funding for master-level students is more limited, and depends greatly on the program of study, so students may be required to seek out their own sources of funding or utilize student loans.
Graduate funding may take the form of research assistantships, instructor and teaching assistantships, fellowships, traineeships, scholarships, grants, and/or other forms of employment, such as working as a resident tutor in an undergraduate residence. Most forms of graduate support are granted for merit, while others are granted for financial need or a combination of merit and need. Stipends ranges are set by the Institute but may vary greatly between departments.
Please note that applicants are considered for awards after they have been accepted into a graduate program. There is no separate application for financial aid prior to admission for any program of study.