Massachusetts Institute of Technology

This page will be updated by late summer of 2022.

National College Match Scholarship Package

These numbers reflect estimated student expenses for the 2021-2022 school year. Amounts will change from year to year, but as the cost of college increases, the scholarship awards will correspondingly increase. Your official financial aid award will be included in a letter directly from MIT. 

Annual Cost of Attendance



Housing & Meals


Books & Supplies






Health Insurance


Student Life Fee




How Annual Costs Are Covered



Federal Work-Study


Student Summer Work Contribution


Parent Contribution


Student Savings


Student Loan




Policy Regarding Outside Scholarships
All outside awards including a Federal Pell Grant first reduce the $5,400 student contribution, before reducing MIT Scholarship awarded to a student. Students eligible for a full Pell Grant may have up to the full cost of attendance covered by grant and scholarship aid.  

Policy on Health Insurance
The commonwealth of Massachusetts requires all students to have some form of health insurance. The MIT Student Medical Plan is included with tuition and provides access to most services at MIT Medical at no additional charge. All students are also enrolled and billed for the Student Extended Insurance Plan which meets the state insurance requirement and provides hospitalization coverage. However, if students already have sufficient coverage (usually under their family's insurance), they can be granted a waiver for the extended insurance plan. 2021-22 Cost: $3,089, not included in Cost of Attendance above.

Policy on Travel Allowance
The travel allowance is determined by MIT Student Financial Services and is dependent on the student's home address.

Requirements Associated with Maintaining this Award
MIT Satisfactory Academic Progress policies

MIT’s Financial Aid Overview 

MIT admits some of the most talented students in the world through need-blind admissions. Once admitted, MIT meets students' full financial need for all four years of their undergraduate career.

MIT’s cost of attendance is the total amount they estimate it will cost a student to attend MIT for one year. The estimated cost for the 2021–2022 academic year is $77,020, and MIT determines all financial aid awards against these numbers—for every student who applies for aid. Learn more about MIT's aid process on the Student Financial Services (SFS) website.

Although the cost changes from year to year, scholarship packages are adjusted accordingly for all students. If you are matched with MIT, you will receive an official financial aid award directly from the Institute.

Massachusetts Institute of Technology (MIT) awards financial aid based only on financial need. MIT is dedicated to meeting the full demonstrated need of each undergraduate for all four years. MIT does not award any academic, athletic or other form of merit scholarships.

MIT's need based financial aid is awarded on an annual basis, and Match Scholarship Recipients must re-apply for aid each year. Provided that there is no significant change in a student's financial situation, financial aid awards remain consistent year to year. If tuition and fees go up, the student's aid will go up as well.

Students who do not match with MIT through the QuestBridge process are still able to apply to MIT in Early or Regular Action—and they are still likely to qualify for a generous financial aid package. Estimate your aid, in less than six questions on the SFS website