Massachusetts Institute of Technology

National College Match Scholarship Package

These numbers reflect estimated student expenses for the 2019-2020 school year. Amounts will change from year to year, but as the cost of college increases, the scholarship awards will correspondingly increase. These numbers are based on the 2018-2019 school year as 2019-2020 costs are not available yet. Your official financial aid award will be included in a letter directly from MIT. 

Annual Cost of Attendance

Tuition

$51,520

Room & Board

$15,510

Books & Supplies

$800

Travel

Varies

Personal

$2,098

Health Insurance

Optional ($3,144)

Required Fees

$312

Total

$70,240

How Costs Are Covered (annually)

Grants

$64,840

Federal Work-Study

$3,400

Student Summer Work Contribution

$2,000

Parent Contribution

$0

Student Savings

$0

Student Loan

$0

Total

$70,240

Policy Regarding Outside Scholarships
All outside awards including a Federal Pell Grant will first reduce the $3,400 Work award and the $2,000 Student Contribution, before reducing MIT Scholarship aid 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 hospital insurance. As part of the basic tuition fee, MIT provides the basic Student Medical Plan, but also enrolls and bills all students for the Student Extended Insurance Plan (which provides hospitalization coverage). However, if students notify the MIT Medical Department before their waiver deadline that they already have sufficient coverage (usually under their family's insurance), they can be granted a waiver from the Student Extended Insurance Plan. Students who cannot or do not waive the Extended Plan will have to cover this cost themselves.

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

Requirements Associated with Maintaining this Award
MIT Satisfactory Academic Progress policies

MIT’s Financial Aid Overview 

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

MIT's need based financial aid is awarded on an annual basis, and Match recipients must re-apply yearly for aid. Provided that there is no significant change in a student's family's financial situation, financial aid awards should remain consistent year to year. 

Students who do not meet this eligibility can still be considered for admission to MIT in Early or Regular Action admissions, and may still qualify for a very generous financial aid package.