Massachusetts Institute of Technology (MIT) is committed to making its world-class education affordable for every admitted student. Through a combination of need-based scholarships, financial aid tools, and personalized support, MIT ensures that cost is never a barrier to opportunity.

Understanding the Cost of Attendance

For the 2025–2026 academic year, the full cost of attendance at MIT is $89,340, which includes:

1. Tuition
2. Housing and food
3. Books and supplies
4. Personal expenses
5. Transportation

However, most students pay far less than this sticker price. In fact, the median annual cost for students receiving MIT Scholarships was $10,268 in 2024–2025.

Tuition-Free and Zero Parent Contribution Policies

MIT has introduced two major affordability initiatives:

1. Tuition-Free for Families Earning Under $200,000: Students from families with typical assets and income below this threshold receive scholarships that cover full tuition.
2. $0 Parent Contribution for Families Earning Under $100,000: These families are not expected to contribute financially toward their child’s education.

MIT’s Financial Aid Philosophy

MIT is one of only nine U.S. universities that are both need-blind and meet full need for all students—domestic and international. This means:

1. Admissions decisions are made without considering financial need.
2. MIT meets 100% of demonstrated financial need for all four years.

Types of Aid Available

MIT offers:

1. MIT Scholarships: Need-based grants that do not need to be repaid.
2. Federal and State Aid: Available to U.S. citizens and permanent residents.
3. Outside Scholarships: Students can apply for external funding sources.
4. Student Employment: On-campus jobs help students earn money while studying.

How to Apply for Financial Aid

Domestic Students must submit:

1. CSS Profile (via College Board)
2. FAFSA (Free Application for Federal Student Aid)
3. Parental tax returns or income documentation (via IDOC platform)

International Students must submit:

1. CSS Profile
2. Parental tax returns or income documentation (translated if necessary)

Deadlines:

1. Early Action: Submit by November 30
2. Regular Action: Submit by February 15

Estimating Your Costs

MIT provides two online tools to help families estimate their financial aid:

1. MyinTuition Quick Estimator: A fast tool based on six questions.
2. Net Price Calculator: Offers a detailed estimate using family financial data. Results are not final but give a strong indication of aid eligibility.

These tools are best suited for first-time, full-time students and may be less accurate for international or independent students.

Student Financial Services (SFS)

MIT’s Student Financial Services (SFS) office supports students throughout their financial journey. Services include:

1. Aid counseling and application support
2. Budgeting and financial literacy resources
3. Job search assistance
4. Billing and payment guidance

In 2024–2025:

1. 39.47% of students received aid equal to or greater than tuition
2. 87.7% graduated debt-free
3. Average starting salary for graduates entering industry was $126,438

Conclusion

MIT’s fees and funding structure is designed to make its undergraduate programmes accessible to talented students from all backgrounds. With full-need financial aid, tuition-free policies, and personalized support, MIT ensures that cost never stands in the way of a transformative education.

Reference:

1. https://sfs.mit.edu/
2. https://mitadmissions.org/afford/cost-aid-basics/access-affordability/
3. https://mitadmissions.org/afford/cost-aid-basics/financial-aid-calculators/
4. https://mitadmissions.org/afford/cost-aid-basics/how-to-apply-for-aid/