Common MIT Financial Aid Package
$58,343 is the standard Massachusetts Institute of Technology's first year financial aid package. Around 60.0% of new students get some kind of financial aid, most of which is scholarships and grants.
A financial aid package contains scholarships, grants, and student loans. However, loans must be paid off, thus they aren't a real college discount.
Student debt should be considered to be an added expense instead of as "aid" or a "discount". Read more about student loan debt at MIT.
Amount of MIT Scholarships & Grants
The numbers below apply to grants and scholarships primarily offered by Massachusetts Institute of Technology.
60.0% of incoming freshmen (665 total) were offered scholarships at Massachusetts Institute of Technology, averaging $47,150 per student. This ranks in the top 20th percentile of all schools in the nation.
In addition to scholarships, 19.0% of first year students (214 total) got federal grant aid, averaging $8,159 a person.
How are grants and scholarships allocated to freshmen at MIT? Look at the data listed below.
Grants are normally based on need while scholarships are based on merit or ability.
Financial Aid per Family Income
The below chart demonstrates grant and scholarship distributions by family income for freshmen receiving any form of federal Title IV assistance, such as Federal PLUS loans.
|Income Level||Percent of Freshman||Average Assistance|
|Income 110k +||9.2%||$31,306|
Title IV aid contains loans, grants, or work-study awarded from the federal government typically determined by financial need. Learn more here.
Scholarships & Grants for All Undergrads Average $46,952
65.0% of the 4,602 undergrads at Massachusetts Institute of Technology are given some form of grant aid. A total around 2,981 students getting about $46,952 per person.
Financial Aid Links from Massachusetts Institute of Technology
|Financial Aid Department Website||sfs.mit.edu/|
|Net Price Calculator||sfs.mit.edu/undergraduate-students/our-approach-to-aid/net-price-calculator/|
Southern New Hampshire University
You have goals. Southern New Hampshire University can help you get there. Whether you need a bachelor's degree to get into a career or want a master's degree to move up in your current career, SNHU has an online program for you. Find your degree from over 200 online programs ... Learn more >