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Massachusetts Institute of Technology Tuition, Costs, & Financial Aid Information

Cambridge, MA

Tuition and Expenses


Cost of Attendance
$76,150
Tuition and Fees
$55,818
Room and Board
$17,320
Books and Supplies
$830
Other Expenses
$2,182
Payment Plans
Installment plan

Applying for Financial Aid


Financial Aid Office

Email
finaid@mit.edu
Web Site
Financial Aid Web Site
Net Price Calculator URL
Net Price Calculator URL

Application Process

Application Deadline
Priority deadline February 15
Final deadline February 15
Award Notification
On or about March 17
Methodology for Awarding Institutional Aid
Institutional Methodology
Forms Required Cost to File
FAFSA
Code is 002178
Free
CSS/Financial Aid Profile $25 for first college, $16 each additional
Noncustodial (Divorced/Separated) Parent's Statement  

Profile of 2019 - 20 Financial Aid


Freshman

Financial Aid Applicants
909 (81.2%) of freshmen
Found to Have Financial Need
705 (77.6%) of applicants
Received Financial Aid
705 (100.0%) of applicants with financial need
Need Fully Met
705 (100.0%) of aid recipients
Average Percent of Need Met
100%
Average Award
$51,721
Need-Based Gift
Received by 695 (98.6%) of aid recipients, average amount $50,044
Need-Based Self-Help
Received by 455 (64.5%) of aid recipients, average amount $2,616
Merit-Based Gift
Received by 33 (4.7%) of aid recipients
Merit-Based Gift
Not reported

All Undergraduates

Financial Aid Applicants
3,018 (66.3%) of undergraduates
Found to Have Financial Need
2,679 (88.8%) of applicants
Received Financial Aid
2,675 (99.9%) of applicants with financial need
Need Fully Met
2,675 (100.0%) of aid recipients
Average Percent of Need Met
100%
Average Award
$52,205
Need-Based Gift
Received by 2,623 (98.1%) of aid recipients, average amount $50,665
Need-Based Self-Help
Received by 1,893 (70.8%) of aid recipients, average amount $2,978
Merit-Based Gift
Received by 76 (2.8%) of aid recipients
Merit-Based Gift
Not reported

Borrowing

2019 Graduates Who Took Out Loans
23%
Average Indebtedness of 2019 Graduates
$23,517
Parents of Students Receiving Aid
2.0%
Parents of Students Not Receiving Aid
Not reported

Financial Aid Programs


Loans

Federal Loans
Direct subsidized Stafford loans, direct unsubsidized Stafford loans, direct PLUS loans
State Loans
 
Other Loans
College/university loans

Scholarships and Grants

Need-Based Available
Federal Pell grants, SEOG, State scholarships, Institutional scholarships, Private scholarships
Non-Need–Based Available
None

Non-Need Awards

Academic Interest/Achievement Award Areas
Not reported
Number of Awards
Not reported
Top Areas (By Money Awarded)
 
Creative Arts/Performance Award Areas
Not reported
Number of Awards
Not reported
Top Areas (By Money Awarded)
 
Special Achievements/Activities Award Areas
Not reported
Number of Awards
Not reported
Top Areas (By Money Awarded)
 
Special Characteristics Award Areas
Not reported
Number of Awards
Not reported
Top Areas (By Money Awarded)
 

Employment

Work-Study Programs
Federal work study available, other work study available
Average Earnings from On-Campus Employment
$3,005

A portion of the College Profile data is provided under license by:
Peterson's Undergraduate and Undergraduate Financial Aid Databases, copyright © 2020 Peterson's LLC. All rights reserved.