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.

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

Need a private student loan? Compare your student loan options all in one place. SimpleTuition

Massachusetts Schools