Cost & affordability: How much it costs

We are committed to helping our students pay for their MIT education. We award aid that meets 100% of your demonstrated financial need.

The big picture

The full price of an MIT education is $82,730 for the 2023–2024 academic year. However, most students pay far less than that. We offer full-need financial aid, which means we meet 100% of your demonstrated financial need for all four years of your undergraduate career.

The average annual price paid by a student who received financial aid was $19,599⁠01 2021–2022 is the last year for which we have full data. This number includes Pell grants and scholarship grants from non-MIT sources. in the 2021–2022 academic year. 85% of students graduate debt free.⁠02 Those who do borrow have debt at graduation considerably lower than the national average. <a href="https://research.collegeboard.org/media/pdf/trends-in-college-pricing-student-aid-2022.pdf" target="_blank" rel="noopener noreferrer">Based on the latest figures</a>, college graduates who borrowed owed an average of $29,100 in loans. By comparison, members of the MIT Class of 2022 who took out loans graduated with an average debt of $25,080, 13.8% below the national average. Meanwhile, the average starting salary for an MIT senior entering industry in 2022 was $115,461, making MIT a good return on investment for most students.

For more detailed information regarding the cost of attendance, including specific costs for tuition and fees, books and supplies, housing and food as well as transportation, please visit the Student Financial Services website.

One of seven

We are one of only seven American universities that is need blind and full need,⁠03 Prospective students are not disadvantaged in the undergraduate admissions process because of their financial need. We are one of only seven schools in the U.S. that is need blind and meets full need for all students, foreign and domestic. which means no student is disadvantaged in the admissions process because of their financial need. We meet the full financial need of all admitted students who apply for aid, which means we award financial aid based entirely upon your family’s demonstrated financial need—not any measure of merit.

The important thing we hope you understand is that money won’t get you in to MIT, and money shouldn’t keep you out. Our goal is to admit and enroll the best students from around the world regardless of their financial circumstances, and make sure they can afford MIT while they’re here.

If you want to learn more about undergraduate financial aid, check out the SFS website.