Financial Aid

MIT is committed to making an MIT education affordable to the best students in the world, regardless of their financial circumstances. To do so, our aid program, administered by Student Financial Services (SFS), meets the full demonstrated financial need of every undergraduate, regardless of residency or citizenship status, for all four years of their undergraduate education. This aid is composed primarily of grants and sometimes student work expectations but never includes loans; 88% of MIT students graduate debt-free, and those who do graduate with less debt than the national average.

MIT is fortunate in having received gifts to the endowment from many benefactors, alumni, and friends that help support the educational needs of our students. Endowment support means that every MIT student, even those who do not receive financial aid, attends at roughly a 50% tuition discount relative to the actual cost of administering the MIT education.

SFS also helps students who need to work find rewarding employment opportunities, offers a robust program in financial education, and provides counseling and certifies eligibility for student loans for those who find it advantageous to borrow.

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

All students who are thinking of attending MIT are 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 can often be obtained from secondary school guidance counselors. ROTC programs at MIT may also provide substantial scholarship support. Learn more about affording an MIT education.

Applying for Financial Aid

What documents are required and when financial aid applications are due depends on whether you are a prospective student or are a returning student, and whether you are a domestic or international student. Learn more about financial aid deadlines and application requirements on the SFS website.

MIT is need blind, meaning that the Institute does not consider a student's ability to pay for MIT during the admissions process. Ability to pay for MIT has no bearing on admissions, and admissions criteria have no part in determining aid; additionally, all students are eligible for aid that meets full demonstrated financial need, regardless of residency or citizenship status.

Maintaining Aid Eligibility

Enrolled students receiving financial aid are required to reapply each year for continued financial aid in the following year. Applications must be submitted by February 15 of the previous academic year. Upper-level students must complete the FAFSA, the CSS Profile, and submit a copy of parental federal tax returns.

A student's eligibility for an MIT Scholarship ends when the student receives an initial degree or after the equivalent of eight attempted or completed terms, whichever occurs first. Students may appeal for financial aid for additional terms by submitting the Extended Aid Form. 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. Students should email getaloan@mit.edu with questions about extending aid and loan eligibility.

Veterans Benefits

SFS works with our students who are veterans (or dependents of veterans) and the Department of Veterans Affairs to help manage financial support benefits. As a veteran of the US armed forces, students may be eligible for benefits that can significantly reduce the cost to attend MIT. Students receiving veterans benefits need to verify their enrollment each term in order to be certified. Some information about using VA benefits to pay for MIT is available on the SFS website; detailed questions should be sent via email to va@mit.edu.

Veterans Benefits and Transition Act of 2018

In accordance with Title 38 US Code 3679 subsection (e), the Massachusetts Institute of Technology (MIT) 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 the above provision, veteran students may be required to:

  • Produce the Certificate of Eligibility by the first day of class
  • Provide a 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.