Massachusetts Institute of Technology

Cambridge, MA

National College Match Scholarship Package

MIT will meet your full financial need for all four years of your undergraduate career. Each year MIT will adjust your MIT Scholarship accordingly as the cost of attendance changes. The numbers below are the estimated cost of attendance for the 2023-2024 academic year. Your official financial aid award will be sent to you directly from MIT.

Annual Cost



Housing and Food


Books, Course Materials, Supplies & Equipment






Health Insurance (Please see policy on health insurance below.)


Student Life Fee






Federal Work-Study


Student Summer Work Contribution


Parent Contribution


Student Savings


Student Loan




Policy on Outside Scholarships

All outside awards/scholarships including a Federal Pell Grant first reduce the $5,400 student contribution. If you have outside awards that total more than the student contribution, the remainder will be put towards your COA for the year, and reduce your MIT Scholarship accordingly. 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. Access to all services at MIT Medical is included with tuition and covers most services at no additional charge. All students are also enrolled and billed for the Student Health 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. 2023-24 Cost: $3,237, not included in Cost of Attendance above. Please email [email protected] with any questions you may have.

Policy on Travel Allowance

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

Policy on Student Contribution

MIT has a Federal Work-Study requirement of $3,400 that can be used towards a student's personal expenses. MIT also expects students to contribute $2,000 from summer work towards their total cost of attendance.

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 a student’s' full financial need for all four years of their undergraduate career.

The cost of attendance is the total estimated cost to attend MIT for one year. The estimated cost for the 2023–2024 academic year is $82,730, 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.

MIT awards financial aid based only on financial need. They are dedicated to meeting the full demonstrated need of each undergraduate for all four years and don't 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 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, financial 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.