How much is the tuition at Massachusetts Institute of Technology?

I'm pretty sure I'd love to apply at MIT next year. However, before I get too excited, I was wondering: does anyone know exactly what the tuition fees are there? As much as I'm looking at scholarship options, I also need to be realistic when it comes to cost.

Tuition at the Massachusetts Institute of Technology (MIT) for the 2024-2025 academic year is $62,000. However, keep in mind that this amount covers tuition only and doesn't include additional costs such as room and board, books and supplies, and other personal expenses. When you add in these extra costs, the total estimated cost of attendance at MIT rises to approximately $86,000 per year.

MIT operates on a need-blind admissions policy for U.S students and meets 100% of demonstrated financial need for all admitted students. So, while the sticker price may seem high, a considerable number of students pay significantly less than this amount after accounting for financial aid packages.

Moreover, If your family's income is less than $90,000, MIT guarantees that scholarships will cover your tuition. Families making less than $90,000 a year are expected to contribute towards room and board only, but not tuition. It's also important to note that MIT does not offer merit-based scholarships. All their aid is need-based.

In your case, it can be a good idea to use the net price calculator on MIT's website. This tool gives a more accurate estimate of what you'd actually need to pay by considering your family's financial situation. In conclusion, while the costs are significant, don't let them deter you from applying, particularly if MIT is your dream school. The financial aid office at MIT is incredibly helpful, and their policies often support students in making MIT a more feasible choice.