Cost of Massachusetts Institute of Technology
Total Cost
The total cost of attendance at Massachusetts Institute of Technology is
$65,612
per year
(which includes tuition and fees, books and supplies, and living expenses)
Cost Breakdown
MIT understands how difficult it is to make ends meet, especially as a college student trying to manage finances, life, and academics all at once. Their Manage Your Money page provides students with banking tips and information and tax information and tips. You can also find a handy budgeting worksheet along with budgeting articles and tips.
Other financial resources for students
This college also offers MIT Student Life Mobile app which provides links and information to all types of great financial and other resources on campus. It is available on GooglePlay and the Apple Store. Discounted public transportation passes for the MBTA can be purchased.
Each student is assigned a Tech Cash Account, which is a student debit card linked to your MIT ID card that allows you to purchase items such as laundry, snacks, books, meals, and more!
Summer Housing Grants are available for students to apply for to help subsidize the cost of summer housing.
Financial Assistance Resources offered by the Office of Student life
Office of Student Life offers services such as:
ARM Coalition (Accessing Resources at MIT) help alleviate student hardships by connecting students to resources at MIT. This organization helps with everything from basic living expenses to travel to books, supplies, activity expenses and help searching for jobs on and off-campus. In addition, they offer guidance and advice for faculty, staff, and students. Their guidance and services also include help with childcare, health, dental and medical expenses in the form of services, referrals, and reduced fees. The resources on this site are endless.
Emergency support fund requests help students work through unforeseen emergencies such as a trip home, emergency weather-related clothing, or other needs that a student may have unexpectedly.
SwipeShare Food Resources is a program where students can get food resource help and utilize it in many of the dining halls on campus. Students can also donate some of their meals into the SwipeShare program. The meals (or swipes) are requested and, if approved, will be added to your student ID card to be used in the dining halls.
Resources for graduate students
Paying for graduate school can be tricky. Prospective graduate students can see how funding works to get a better idea of how to fund their education. In addition,Graduate Student Life resources offers a variety of resources through its offices. Some of these resources include: Leadership training to graduate residence halls executive boards
- Crisis response and support
- Family food grants
- Swipe Share
- Community resource information
- Programs for resident graduate students’ children
- Cooking and nutrition classes
Massachusetts Institute of Technology’s student organizations and centers host a variety of events throughout the year to help subsidize and keep student costs down for household items, clothing, transportation and other necessities. This include:
The APO Ride Board to post and take advantage of ride sharing opportunities to reduce the cost of transportation.
Choose to Reuse is a program and event held on the third Thursday of each month.
Clothing Service Program hosts a "Fall Fashion Free For All" annually where students can get needed items for their wardrobes at no cost.
Free Food Email List is a list that you can opt into to be made aware of leftovers from events at the college.
Financial Aid for Massachusetts Institute of Technology
Average Student
The average student at Massachusetts Institute of Technology pays
$22,230
per year
Need Met
Massachusetts Institute of Technology's financial aid meets
100.0%
of student's demonstrated need
Financial Aid
At Massachusetts Institute of Technology
59.9%
of freshmen receive some form of financial aid
Merit Scholarships for Massachusetts Institute of Technology
Average Merit Scholarships
The average Massachusetts Institute of Technology merit scholarship for students without financial need is
$0
Massachusetts Institute of Technology does not provide merit-based scholarships except through master’s level programs. For example, MIT's Sloan Business School and MIT's School of Architecture and Planning offer Master’s level merit-based fellowships and scholarships. MIT offers assistance and page where you can search for other scholarships and grants and are non-institutionally based.
MIT explains that their scholarships and financial aid “are awarded based solely on financial need and come from our endowment, gifts from MIT alumni and friends, and MIT general funds.”
Average Cost
Very few students pay the full price. Here's the average cost for students in different income brackets:
Budget for Massachusetts Institute of Technology
Every student's costs are a little different.
LEARN MORE ABOUT BUDGETING >Loans for Massachusetts Institute of Technology
Student Loans
The average student at Massachusetts Institute of Technology takes out
$20,048
in student loans
Student Loan Repayment
The student loan repayment rate at Massachusetts Institute of Technology is
94.6%
after five years
96.0%
after seven years
Student Loan Default Rate
At Massachusetts Institute of Technology
0.9%
after three years
Graduate salaries for Massachusetts Institute of Technology
Average Starting Salary
The average starting salary for a Massachusetts Institute of Technology graduate is
$94,842
Salary Years After Graduation
After graduation, here's how the average salary at Massachusetts Institute of Technology grows over time:
Savings for Massachusetts Institute of Technology
Sticker Price
Massachusetts Institute of Technology's full cost of attendance has increased an average of
3.7%
per year since 2014
Net Price
Massachusetts Institute of Technology's average net price has increased an average of
1.3%
per year since 2014
Average Cost
Given past trends, we expect Massachusetts Institute of Technology's tuition pricing to be the following:
