At MIT, we admit the most talented students in the world through need-blind admissions. Once admitted, we meet your full financial need for all four years of your undergraduate career.
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Cost of attendance
The cost of attendance, is the total amount we estimate it will cost a student to attend MIT for one year. However, most students pay far less because of our generous need-based financial aid; in fact, the average annual price paid by a student who receives financial aid is about $21,917.
Our approach to aid
At MIT, we are committed to helping our students pay for their education. The price of an MIT education varies for each student depending on how much they can afford, but our commitment to affordability remains a constant.
How to apply for aid
We offer several forms of aid. The most common type of aid is the MIT Scholarship. If you receive one, it is a grant that does not need to be repaid.
By the numbers
The average need-based MIT Scholarship awarded to undergraduate students in 2019–2020.
Students with a family income below this level (and typical assets) do not pay tuition.
The percentage of MIT undergraduates who graduated debt-free in 2020.
Key terms for undergraduate students
- Need based
- Need based means that we award financial aid entirely based on your family's financial circumstances.
- Full need
- Full need means that we meet 100% of your family's calculated need through scholarships, grants, and student employment.