Estimated cost of studying at MIT in the USA

MIT is my dream school, but I'm concerned about the cost. What are the expenses I should expect if I somehow get in, and how can I go about reducing them? Are there any scholarships specifically for MIT students?

Attending MIT can indeed be an investment, but there are financial assistance options available to help offset these costs.

The cost of attending includes tuition, fees, room & board, books & supplies, personal expenses, and travel. The total estimated cost of attendance for the 2024-2025 academic year is roughly $85,960 for a student living on campus, which includes the tuition ($61,990), room and board ($20,280), and books and personal expenses ($3,344). Keep in mind these numbers could vary slightly based on personal lifestyle and choices.

MIT is committed to meeting 100% of the demonstrated financial need for admitted students through scholarships from MIT, federal and state grants, loans, and work-study. This means all students – regardless of financial need – who get in, should be able to attend.

Also, MIT has a generous need-based aid program. Starting next fall, if your family income is below $200,000, MIT ensures you'll receive enough scholarship aid that you'll be able to attend without taking out loans. If your family income is below $100,000, total tuition costs are waived. For families earning more than $200,000, financial aid packages are designed to bring the cost of MIT down to a level comparable to state universities.

For additional assistance, MIT has multiple institutional scholarships and grants which are automatically considered when you apply for financial aid. MIT also processes external scholarships you have won, which can help further reduce your Self-Help and Student Contribution.

In terms of reducing costs, you can buy used textbooks or borrow them from a library to save on book expenses. You can also consider applying for work-study jobs or part-time jobs on campus to earn some income. And of course, try to spend conservatively and budget wisely.

For your question about scholarships specifically for MIT students, MIT itself provides a considerable amount of need-based aid to students in the form of scholarships/grants. Many of these don't require a separate application - you'll be automatically considered when you apply for financial aid. There are also department-specific scholarships for continuing students. Some students also apply and receive external scholarships.

Remember to apply for financial aid as soon as possible, and feel free to reach out to the financial aid office if you have questions. Good luck!