Cost of attendance | MIT Student Financial Services

Cost of attendance | MIT Student Financial Services

The annual student funds is the entire value of an MIT schooling—per student, per 12 months.

The annual student funds, or value of attendance, is the entire quantity we estimate it’s going to value a student to attend MIT for one 12 months. It contains prices which are billed by MIT, akin to tuition, housing, and eating, and estimates for different bills, akin to books, provides, and private bills. We use this funds to find out monetary assist for each student. However, it is best to know that almost all students pay far much less due to our need-based monetary assist.

89% of our students obtain some sort of economic assist together with scholarships and work. And the typical annual value paid by a student who receives monetary assist is about $21,917. We work with all monetary assist candidates to ensure an MIT schooling is reasonably priced for them.

The funds beneath is what a typical value of attendance appears like. We evaluate all monetary assist awards towards the identical numbers. It is a



(almost)⁠01


Note: this funds doesn’t embody journey allowances, that are assessed primarily based on private tackle.
 
complete schedule of prices and charges related to an MIT schooling for many who don’t obtain any assist.

Sample value of attendance from the 2019–2020 tutorial 12 months

You might view the up to date fall 2020 value of attendance, which accounts for the circumstances round COVID-19. We will publish the 2021–2022 value of attendance in early 2021.

Expense Cost Description
Tuition $53,450 It truly prices over double this quantity for MIT to offer the cutting-edge analysis amenities and college to undergraduates, however we subsidize it all the way down to this value. This additionally contains



primary well being insurance⁠02


Massachusetts state regulation requires full well being protection for MIT students, which many meet with the Extended Insurance Plan. However, if you have already got full protection, then you definitely don’t want to purchase something extra or totally different.
 
for the state of Massachusetts and gives you pressing care visits, psychological well being, and specialist care at no further value.
Student life payment $340 This helps fund student golf equipment, organizations, and the sports activities and health heart. This payment covers your limitless entry to the gymnasium, health lessons, student group occasions, and journeys.
Housing $10,430 All first-year students are required to dwell on campus, however residence halls and dwelling teams fluctuate in value. We’ll invoice you in July for half of the costliest double room on campus ($10,430), then alter it primarily based in your precise housing value in September. Learn extra at MIT Housing.
Meals $5,960 There are a number of eating plan choices (together with cooking for your self), however for the needs of determining your monetary assist eligibility, we funds $5,960 per 12 months for meals. Learn extra at MIT Dining.
Books & provides $820 This out-of-pocket expense can fluctuate relying on the student, however we use this quantity to calculate your monetary assist eligibility.
Personal bills $2,160 This out-of-pocket expense varies lots relying on the student, however we use this quantity to calculate your monetary assist eligibility. This covers issues like garments, laundry, and leisure.
Total $73,160 This is the “full” value, earlier than any assist.
READ:   What occurs to your Student Loan in the event you drop out of college?

 

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