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.
Our scholarships are awarded based solely on financial need and come from our endowment, gifts from MIT alumni and friends, and MIT general funds. 60% of our undergraduates receive MIT Scholarships. The average amount for an MIT Scholarship was $50,483 for 2019–2020.
All students who apply for financial aid and fill out theare automatically considered for an MIT Scholarship.
If you are awarded an MIT Scholarship, we will ask you to fill out an annual Student Information Review Form so that we can match you with the right scholarship from the right donor. Our scholarship donors often take an interest in learning about the recipients, so we may also ask you to write to your donor and thank them for their support.
First Year Grant
We provide low-income first-year students with a grant to help with the extra expenses that come with the transition to college, such as sheets and towels for your room, or a warm coat to make it through a Boston winter. The First Year Grant of $2,000 is divided equally between the fall and spring semesters and will credit to your student account along with other financial aid once you are registered for the semester. The grant is for first-year students only.