We’ve created a tool to help you make your own budget and figure out how much it might cost for a year at MIT.
We’ve put together this worksheet for you to figure out how much you’ll need for a year at MIT. It will also help you get a sense of how much you might need for other expenses, and how that stacks up against income from a student job, your financial aid, and/or family contributions.
Before you begin, make sure you have a few items on hand:
- A list of your estimated personal expenses (but you can make a “guesstimate” as you go along)
- A list of your personal resources, such as savings and estimated earnings
- Your financial aid award information, if you have an award (accessed through the Admissions portal)
Things to remember
- Listed costs are for the 2021–22 academic year*
- If a number is outlined in red, it is more than we’ve budgeted in the cost of attendance.
- If a number is outlined in green, it is within the expected budget.
- At the end of section 2, you will see that we have recommended a monthly amount that you will need to cover the difference between your educational expenses and your financial aid.
- At the end of section 4, we have estimated the amount of additional money you will need to cover personal expenses, or the amount left over after your expenses are covered.
*Housing tax rates currently reflect the previous years’ rates and will be updated once numbers become available.