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Update August 17:

To learn more about MIT’s changes to the fall 2020 cost of attendance as well as the Covid-era grant, please see our 2020 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.

Table of contents

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

Affordable education


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.
Our approach to aid →