Undergraduate Tuition and Living Expenses
2021–2022 tuition (9 months)
Housing and meals
Books and personal expenses
- 33,240 applicants
- 1,365 (4.1%) admits
The Institute’s undergraduate financial aid program ensures that an MIT education is accessible to all qualified candidates regardless of their financial circumstances. MIT provides financial aid to meet the full price of an MIT education, based on the calculated financial need of a family. In 2020–2021, 99% of undergraduates received $160.6 million in financial aid from all sources, with MIT being the largest source. For students with a family income under $ 90,000 (and typical assets), the Institute ensures that scholarship funding from all sources will allow them to attend MIT tuition-free.
Selected undergraduate financial aid statistics, 2020–2021
Students awarded a need-based MIT Scholarship
Class of 2021 graduates with no student loan debt
Average yearly earnings for those who worked
Average student loan debt for Class of 2021 graduates who borrowed
Financial need is the difference between the cost to attend MIT and a family’s ability to pay that amount. Need is determined using information provided on the Free Application for Federal Student Aid (FAFSA) and the College Scholarship Service (CSS) Profile. The first $5,400 of financial need is designated as a student contribution and can be met through a combination of summer savings and a student job during the academic year, outside scholarships or grants (including Pell Grants), or student loans. The remaining need, if any, is met with an MIT Scholarship. Students receiving scholarships and grants from sources outside MIT may use that aid to replace the student contribution.
Please note that the numbers for the 2020-2021 academic year reflect COVID-19 policies and may differ from other academic years.