MIT Student Loans

MIT student

The Massachusetts Institute of Technology (MIT) appreciates both a national and international reputation for extraordinary academic achievement. According to Forbes, MIT is ranked #5 in the nation overall. Other features of this private school include:

Academics at MIT

As described in 2014 MIT Facts, MIT is composed of following schools:

Across these schools, students can select from 46 majors and 49 minor courses of study. According to U.S. News, five of the most popular majors for 2012 graduates were:

Paying for MIT

For students who receive one of the coveted seats at MIT, they will find a high sticker price on their degree. According to 2014 MIT Facts regarding financial aid, costs for 2013 – 2014 were approximately $43,210 for tuition, $12,744 for room and board, and $2,778 for books and miscellaneous expenses.

Many college students are faced with the issue of how to pay for college, and several sources of aid may be available, including:

MIT automatically considers admitted students for MIT scholarships, which are based solely on financial need. According to MIT Student Financial Services, in the 2011 – 2012 academic year, the average MIT scholarship per qualifying student was $32,917. MIT is clearly generous in its financial aid packages, which reflects the school’s policy that those students who meet the extremely competitive admissions standards should not face a financial barrier to matriculation.

In addition, students who have earned a GPA and SAT scores high enough to be admitted to MIT should consider researching outside scholarships, including state ones. As many scholarships blend merit with other qualifying factors – such as the intended course of study or group affiliations – prospective MIT students have a good chance of at least meeting the academic requirements.

At SimpleTuition, we provide numerous resources to give you the information you need to learn more about your schools of interest. MIT’s robust financial aid and scholarships are great examples of how the high cost of college can be made more affordable.

Pay for Massachusetts Institute of Technology*

Total Avg. Cost $53,210
Tuition $37,510
Room & Board $11,360
Financial Aid Information
Students Receiving Fin Aid 86%
Typical Grant Amounts
State/Local $2,273
Federal $7,089
%Receiving Loans 25%
Avg. Other Stud. Loans $21,195
%Receiving Other Loans 2%

Get into Massachusetts Institute of Technology

Admission Rate 10%
Total Enrollment 4,268
Men 55%
Women 45%
Graduation Rate 91%
Application Fee $75

Contact Massachusetts Institute of Technology

77 Massachusetts Avenue
Cambridge, MA 02139-4307
(617) 253-1000
Financial Aid Office URL
Admissions Office URL

*Data source is the Integrated Postsecondary Education Data System (IPEDS) the data collection program for the National Center for Education Statistics

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