Massachusetts Institute of Technology

Cambridge, MA, USA

Tuition, Cost & Aid

Affordability and Cost

Average Net Price Average net price for full-time, first-time degree/certificate-seeking undergraduates paying the in-state or in-district tuition rate who were awarded grant or scholarship aid from federal, state or local governments, or the institution. Other sources of grant aid are excluded. Aid awarded anytime during the full aid year is included.

Average net price is generated by subtracting the average amount of federal, state or local government, or institutional grant and scholarship aid from the total cost of attendance. Total cost of attendance is the sum of published tuition and required fees (lower of in-district or in-state), books and supplies and the weighted average room and board and other expenses.
$20,771
Calculate your net cost
Average Net Price By Family Income
Income
Average Amount
< $30k
$7,432
$30k - $48k
$4,727
$48k - $75k
$8,347
$75k - $110k
$19,156
$110k+
$40,162
Tuition
In-State Tuition In-state tuition is the tuition charged by institutions to those students who meet the state's or institution's residency requirements. In-district tuition is the tuition charged by the institution to those students residing in the locality in which they attend school and may be a lower rate than in-state tuition if offered by the institution.
$51,832
Out-of-State Tuition Out-of-state tuition is the tuition charged by institutions to those students who do not meet the state’s or institution’s residency requirements. Out-of-district tuition is the tuition charged by the institution to those students not residing in the locality in which they attend school.
$51,832
Additional Costs
Room and Board The weighted average for room and board and other expenses is generated as follows:
  • (amount for on-campus room, board and other expenses * # of students living on-campus.
  • + amount for off-campus (with family) room, board and other expenses * # of students living off-campus with family
  • + amount for off-campus (not with family) room, board and other expenses * # of students living off-campus not with family)
divided by the total # of students. Students whose living arrangements are unknown are excluded from the calculation. For some institutions the # of students by living arrangement will be known, but dollar amounts will not be known. In this case the # of students with no corresponding dollar amount will be excluded from the denominator.
$15,510
Books and Supplies
$800
Tuition Payment Plan
Yes
Financial Aid: visit page
Financial Aid Email: sfs@mit.edu

Aid & Grants

0
100
100%
Need Met
Students Receiving Gift Aid Percent of undergraduate students awarded federal gift aid. Federal gift aid includes any grant or scholarship aid awarded, from the federal government, a state or local government, the institution, and other sources known by the institution.
17%
Average Aid Per Year
$43,248
Students Receiving Grants Percent of undergraduate students awarded grant aid. Grant aid includes any grant or scholarship aid awarded, from the federal government, a state or local government, the institution, and other sources known by the institution.
17%
Average Federal Grant Aid Per Year
$7,908
Average Institution Grant Aid Per Year
$41,198
Students receiving state aid
2%
Average State Grant Aid Per Year
$1,987
Students receiving federal aid
17%
Average Federal Grant Aid Per Year
$7,908
Average Grant & Scholarship By Family Income
Income
Average Amount
< $30k
$58,046
$30k - $48k
$60,751
$48k - $75k
$57,131
$75k - $110k
$46,322
$110k+
$25,316
Total Needs Based Scholarships/Grants Total amount of grant or scholarship aid awarded to all undergraduates from the federal government, state/local government, the institution, and other sources known to the institution.
$130,225,282
Total Non-Need-Based Scholarships/Grants
$3,499,690

Student Loans

Students Borrowing Loans Loans to students - Any monies that must be repaid to the lending institution for which the student is the designated borrower. Includes all Title IV subsidized and unsubsidized loans and all institutionally- and privately-sponsored loans. Does not include PLUS and other loans made directly to parents.
16%
Average Loan Amount Per Year
$7,530
Students receiving federal loans
13%
Average Federal Loans Per Year
$5,870
Average Other Loans Per Year
$11,307
Average Debt at Graduation The median federal debt of undergraduate borrowers who graduated. This figure includes only federal loans; it excludes private student loans and Parent PLUS loans.
$15,346
Loan Default Rate
1%
US National: 7%
Median Monthly Loan Payment The median monthly loan payment for student borrowers who completed, if it were repaid over 10 years at a 5.05% interest rate.
$182

What Students Are Saying

4.34 Average Rating
Sure you end up paying a lot, but for the education it is definitely worth it. People respect not only the MIT name, but the students who graduate from the institute as well and are impressed by our level of work and standards.
Christopher from Elmhurst, IL
Everyone in the academic world knows MIT and with good reason. MIT is one of the top Universities in the world. The benefits from having MIT on your resume cannot be expressed in terms of money. In the job market the allure of an MIT graduate is reliability. Proving yourself in an MIT classroom assures excellence, and employers know this.
Aaron from Farmington Hills, MI
The opportunities available are amazing. Starting from freshman year you can participate in research with professors in any field. Classes are open to all students in all departments, so even if you are not majoring in something you can still take classes in it.
Hannah from CT
MIT is expensive, but for the most part, they have good financial aid, and even if you have to pay out of pocket, I would say that MIT is one of the few schools that are worth it.

Not only do you get the experience of being at MIT, surrounded by the Institvte, but you also get name recognition, which actually is incredibly helpful.
Rebecca from Louisville, CO
my financial aid package was amazing. i won full-tuition merit scholarships at two schools but mit (which only has need based aid, no merit) topped even that. by far the most affordable place i applied (ignore the sticker price and wait for your aid package)
alicia from oh
The money you pay to go to MIT isn't primarily for the academics. As with many top schools, it is for the sheer number of activities you can be involved in, the prospective internship and professional activities you can be exposed to and last but not least, the connections you can build amongst not only fellow students, but the faculty who have already achieved monumental breakthroughs and continue doing so today. Though it may be expensive, coming to MIT will pay off; the catch is that you must be able to push yourself, work hard, and ACTIVELY search for the opportunities lying around for you. Also, financial aid here is pretty good; over 58% of the student body takes on financial aid that does not need to be repaid (grants, scholarships, etc).
Peter from Cambridge, MA
MIT is definitely worth its steep tuition. The education is one of the best in the world and opportunities for both students and alumni are unending. The reputation that MIT has in science, mathematical, engineering and other fields is incredible, and the alumni network helps graduating students to find almost any job they want.
Margaret from Cambridge, MA
When you get an education at MIT, businesses look for you. When you graduate, you will have no trouble paying off the bills that you acquired while attending.
Jedidiah from Acton, ME
What you get from MIT is what you make of your education. There are resources available, but it is up to you to take advantage of them. Otherwise, MIT is not worth $55k unless you have masochistic tendencies. The UROPs alone (see Tips below) validate the cost of attendance. Generally speaking, the opportunity to publish as an undergrad is dismal and often times difficult. MIT is designed to be collaborative (the problem sets are so difficult they’re nearly impossible to complete individually), and professors love help in their research, especially from whom better than an MIT student? Making it through your first year already shows competence and reliability, so remember to be assertive and outgoing because you’ve earned it.
Michael from Waynesville, OH
And if you don't have the buck, financial aid is need-based so the Institute has you covered.
Samantha from Sylmar, CA

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