Financial Aid

MIT meets the full financial need of every undergraduate for all four years of their undergraduate career. Student Financial Services (SFS) awards financial aid based on the financial need of each individual student, as determined by analysis of information provided by the family on the Free Application for Federal Student Aid (FAFSA) and the CSS Profile applications. Copies of parental federal tax return(s) are required in support of aid applications.

SFS reviews applications and makes need-based awards to both MIT undergraduate and graduate students. MIT is fortunate in having received gifts from many benefactors, alumni, and friends that help support the educational needs of our students.

Students choose term-time work and/or loan eligibility to meet their student contribution, which is the amount that students are expected to contribute themselves. Student loans allow the student to pay part of the costs of their education on long-term credit under favorable financial terms.

Specific jobs are not assigned; students are expected to arrange work most suitable to their own talents and schedules. The SFS website has a student job board with current job openings for students seeking part-time jobs during the term or full-time summer jobs. On-campus work is usually available in residence halls, offices, libraries, and laboratories. Listings for off-campus positions are also available.

SFS participates in the Federal Community Service Program (part of the Federal Work-Study Program). Eligible students work in jobs that have a direct impact on the Cambridge and Boston communities or their hometowns over the summer. Wages are subsidized up to the student's work-study eligibility.

All students who are thinking of attending MIT are strongly urged to explore all areas of financial assistance, including government and private financial aid programs. A number of states sponsor scholarship programs for residents, and information on eligibility may often be obtained from secondary school guidance counselors. ROTC programs at MIT may also provide substantial scholarship support.

For more information on financing an MIT education, see the SFS website.

Applications

Details on applying for financial aid are available on the SFS website.

Entering First-Year and Transfer Students

Students who wish to be considered for financial aid should complete the Free Application for Federal Student Aid (FAFSA) and the CSS Profile. MIT also requires parental tax returns, W-2 forms, and all schedules. MIT is need blind, meaning that we do not consider your ability to pay for college in the admissions process. Need has no bearing on admissions, and admissions criteria has no part in determining aid.

International Students

As with other undergraduates, MIT meets the full need of international undergraduate students who demonstrate financial need. International students who wish to be considered for financial aid should complete the International Student CSS Profile online and provide verification of parent income.

Students should also seek aid from sources other than MIT. International students should make all arrangements for their financial obligations to MIT for their entire stay in the United States before leaving their home country.

For complete instructions on applying for financial aid, including the documents required, visit the SFS website. 

Returning Students

Enrolled students receiving financial aid are required to reapply each year for continued assistance in the following year. Award applications must be submitted no later than April 15 of the year preceding the term in which aid is anticipated. Upper-level students must complete the FAFSA and the CSS Profile. The application process also requires a copy of parental federal tax return(s), and all applicants are expected to apply for a state grant where applicable, as well as any renewable grants received in prior years.

A student's eligibility for MIT undergraduate grant funds will end when the student receives an initial degree, or after the equivalent of eight attempted or completed terms, whichever occurs first. Students may appeal for eligibility for additional terms by contacting SFS. Eligibility for federal financial aid is not limited to eight terms, but ends once a student’s degree requirements have been met. Student Financial Services will replace federal aid with equivalent MIT funds if federal eligibility ends before a student has completed eight terms.

Eligibility for undergraduate loans continues through all undergraduate programs. A student becomes eligible for the higher loan maximums that pertain to graduate students upon enrollment in a graduate program. Additional information is available at the Loans page on the SFS website.

Veterans Benefits

Students who are receiving veterans benefits need to verify their enrollment each term in order to be certified.

Veterans Benefits and Transition Act of 2018

In accordance with Title 38 US Code 3679 subsection (e), the Massachusetts Institute of Technology adopts the following additional provisions for any students using US Department of Veterans Affairs (VA) Post 9/11 GI Bill® (Ch. 33) or Vocational Rehabilitation and Employment (Ch. 31) benefits, while payment to the institution is pending from the VA. MIT will not:

  • Prevent nor delay the student’s enrollment;
  • Assess a late penalty fee to the student;
  • Require the student to secure alternative or additional funding;
  • Deny the student access to any resources available to other students who have satisfied their tuition and fee bills to the institution, including but not limited to access to classes, libraries, or other institutional facilities.

However, to qualify for this provision, such students may be required to:

  • Produce the Certificate of Eligibility by the first day of class;
  • Provide written request to be certified;
  • Provide additional information needed to properly certify the enrollment as described in other institutional policies.

Veteran students are responsible for charges above and beyond those covered by their VA benefits.

GI Bill® is a registered trademark of the US Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official US government website.

 For more information, visit Veterans benefits.