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National Application Center :: campus tours :: Massachusetts Institute of Technology costs & financial aid

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Massachusetts Institute of Technology

Massachusetts Institute of Technology
77 Massachusetts Avenue
Cambridge, MA 02139-4307


Fax number: (617) 258-8304
Website: https://web.mit.edu/
Screen last updated on: January 2024

The financial aid information below is valid for the 2023 academic year.

FINANCIAL AID OFFICE
Financial aid homepage: https://
npc.collegeboard.org/
student/app/mit

EXPENSES
Undergraduate tuition: $59,750; $59,750 out-of-state
Book fees: $880
Combined room and board expenses: $19,390

APPLYING FOR AID

Required form Priority date Rolling? Closing date
FAFSAN/AnoN/A
CSS/Financial Aid PROFILEN/AnoN/A
Noncustodial (Divorced/Separated) Parent's StatementN/AnoN/A
Parents' complete federal income tax returns and W2s from two years ago; CSS Business/Farm Supplement when requested by Financial Aid OfficeN/AnoN/A

Applied for financial aid:
79% of first-year students
66% of full-time undergraduates
Determined to have financial need:
77% of first-year students
88% of full-time undergraduates
Students determined to have financial need who received any financial aid:
100% of first-year students
100% of full-time undergraduates
Students receiving financial aid who received need-based self-help aid:
56% of first-year students
61% of full-time undergraduates
Students receiving financial aid who received any non-need-based gift aid:
3% of first-year students
2% of full-time undergraduates
Students receiving financial aid whose need was fully met (excluding PLUS loans and private alternative loans):
100% of first-year students
100% of full-time undergraduates
Average percent of need that was met of students who received any need-based aid (excluding PLUS loans and private alternative loans):
100% for first-year students
100% for full-time undergraduates
Average financial aid package (excluding PLUS loans and private alternative loans):
$60,077 for first-year students
$61,214 for full-time undergraduates
Average need-based gift award:
$59,142 for first-year students
$60,345 for full-time undergraduates
Average need-based self-help award (excluding PLUS loans and private alternative loans):
$2,878 for first-year students
$3,156 for full-time undergraduates
Average need-based loan (excluding PLUS loans and private alternative loans):
$2,068 for first-year students
$2,769 for full-time undergraduates
School participates in Federal Work-Study Program: yes

TYPES OF AID AVAILABLE
Types of loans available:
  • Direct Subsidized Stafford Loans
  • Direct Unsubsidized Stafford Loans
  • Direct PLUS Loans
  • Federal Perkins Loans
  • Federal Nursing Loans
Need-based scholarships/grants available:
  • need-based (general)
  • Federal Pell Grants
  • SEOG
  • state scholarships/grants
  • college/university scholarships/grants (institutional funds)
  • private scholarships/grants
  • United Negro College Fund
Non-need-based scholarships/grants available:
  • non-need-based (general)

Data is copyrighted material under license to Peterson's, LLC. Material may contain updates provided solely by the institution to which the updated Data relates. These updates are not independently validated, and no party associated with this website can accept responsibility for their accuracy. Copyright © 2021 by Peterson's, LLC. All rights reserved.