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Resource Development

During the fiscal year 2023, nearly 31,000 individuals and organizations gave or pledged $615 million to support the talented people of MIT in their quest to meet the great challenges of our time. This marked the Institute’s ninth consecutive fiscal year surpassing its $500 million fundraising target.

Philanthropic contributions provide essential unrestricted funds and vital resources designated to a range of priorities across MIT. Unrestricted funds, which can be directed toward pressing needs, have helped the Institute accelerate its commitment to action on climate change and ensured the continued revitalization of campus facilities.

MIT continues to cultivate the support of its alumni and friends for ongoing core needs, such as educating the “whole student”—which encompasses undergraduate scholarships, experiential learning, athletics, and graduate fellowships—and professorships, campus construction, and the arts. The Institute is also focusing fundraising efforts on helping the MIT community come together to make progress in high-impact fields, such as climate and generative AI, and to drive the creation of new knowledge and solutions.

Undergraduate financial aid, 2022–2023

  • 35% of students attended tuition-free
  • 58% of students were awarded a need-based MIT scholarship
  • 86% of Class of 2023 graduated with no student loan debt