MIT Financial Aid and Graduate Fellowships

For undergraduate students, MIT meets 100 percent of demonstrated financial need. Families with income below a specific threshold and typical assets have a zero dollar parent contribution. In the 2024 to 2025 academic year, the median MIT Scholarship was $69,777, and 39.47 percent of undergraduates received scholarships and grants equal to or greater than tuition.

Graduate financial aid is decentralized and managed directly by individual departments. Doctoral students typically receive funding offers at the time of admission through research and teaching appointments or fellowships that cover full tuition and health insurance while providing a stipend. Funding for Master's level students is more limited and depends on the specific program of study.

Veterans of the United States armed forces and their dependents can utilize VA education benefits at MIT. Programs include the Post-9/11 GI Bill, the Fry Scholarship, and the Yellow Ribbon Program, for which MIT funds all eligible students with an unlimited number of scholarships matching the VA contribution.

Students can manage their bills, view account charges, and make payments using the secure online payment system called MITPay. Monthly payment plans are also available, dividing term charges into five regular installments per term instead of requiring a single lump sum payment.