Scholarships at Massachusetts Institute of Technology: average net price by family income
Before any aid, Massachusetts Institute of Technology lists a price of $82,730 a year. After grants and scholarships, the average net price varies by family income. Here are the numbers.
Massachusetts Institute of Technology is a private university in Cambridge, MA. The average net price for family income $0–$30,000 is −$2,533 a year, after grants and scholarships, for full-time, first-time, degree/certificate-seeking undergraduates awarded Title IV aid (IPEDS 2023–24 net price (provisional)). Massachusetts Institute of Technology admitted about 5 % of those who applied (IPEDS 2023 admit rate).
Average net price after grants and scholarships, by family income
Before any aid, the published price is $82,730 a year*, including tuition, housing, food and books. It is the starting point, not necessarily your family's final cost: there may be scholarships from other sources. For family income $0–$30,000, the average net price was −$2,533 a year after grants and scholarships (grants exceeded the cost of attendance), for full-time, first-time, degree/certificate-seeking undergraduates awarded Title IV aid*.
If your child is undocumented or has no Social Security number: federal aid does not apply. Ask the college directly whether its own aid applies in your case, and get it in writing.
Admission, cost and graduation: three facts and three steps
- Admission: Massachusetts Institute of Technology admitted about 5 % of those who applied (IPEDS 2023 admit rate). BCA guidance: review requirements and deadlines, and build a balanced list of options (safety, match and reach).
- Cost: The average net price for family income $0–$30,000 is −$2,533 a year, after grants and scholarships, for full-time, first-time, degree/certificate-seeking undergraduates awarded Title IV aid (IPEDS 2023–24 net price (provisional)). BCA guidance: file the FAFSA on time and compare the net price of several options before deciding.
- Graduation: About 96 % complete their program within 150% of normal time (IPEDS graduation rate). BCA guidance: confirm the funding covers every year of the program and check your major's graduation rate, not just the overall one.
Want to know how much aid your child could get?
In our free 6-Tips presentation we show you, step by step, how to build a strategy to get scholarships and financial aid at U.S. universities.
What Massachusetts Institute of Technology really looks at to admit (per its Common Data Set)
Massachusetts Institute of Technology admitted about 5 % of those who applied (IPEDS 2023 admit rate). Its Common Data Set states which factors it considers for admission.
What it DOES consider
- Course rigor
- GPA
- Test scores (SAT/ACT)
- Application essay
- Recommendation letters
- Activities & leadership
- Character & personal qualities
- Special talent or ability
- Being first-generation
- Interview
- Work experience
- Volunteer work
- Class rank
- Region of the country
Massachusetts Institute of Technology alumni with a public source
Real people who studied here, with a name and a public source. Each card links to its source.
Shirley Ann Jackson, valedictorian of her public high school in Washington, D.C., arrived at MIT as one of very few Black students and earned her bachelor's and, in 1973, her physics PhD there — becoming the first African-American woman to earn a doctorate from MIT. She helped open doors for more students and went on to lead universities and national agencies.
Kofi Annan, born in Ghana, came to MIT as a Sloan Fellow and earned a master's in management in 1972. He rose to become Secretary-General of the United Nations and, together with the UN, received the 2001 Nobel Peace Prize for his work toward a more peaceful world.
The plan: what to do by grade level
9th–10th grade
Build the base: challenging classes, a solid GPA, deep activities and study habits.
11th grade
Strategy: check the institution's current SAT/ACT policy and send them only if they add; build a balanced list of options, start your essays and prepare scholarships and the FAFSA.
12th grade
Execution: meet deadlines, finish essays and letters, submit the FAFSA, apply and compare aid offers.
If already applied
Understand the aid letters, compare the real net price across options and confirm funding for every year.
Sticker and net price
The published cost of attendance is $82,730 a year (IPEDS 2023–24). The average net price —cost of attendance minus grants and scholarships— is the figure the income table compares. They are two different numbers.
Frequently asked questions
How much does it cost to attend Massachusetts Institute of Technology?
It depends on your family's income. The published cost of attendance is $82,730 a year (IPEDS 2023–24). The average net price after grants and scholarships, by family income, is in the table above.
What is the average net price at Massachusetts Institute of Technology for family income $0–$30,000?
The average net price for family income $0–$30,000 is −$2,533 a year, after grants and scholarships, for full-time, first-time, degree/certificate-seeking undergraduates awarded Title IV aid (IPEDS 2023–24 net price (provisional)). Compare that net price with other options.
Are there Latino students at Massachusetts Institute of Technology?
About 10 % of its students are Hispanic or Latino (total enrollment, fall 2023).
Is it hard to get into Massachusetts Institute of Technology?
Massachusetts Institute of Technology admitted about 5 % of those who applied (IPEDS 2023 admit rate).
Do students finish at Massachusetts Institute of Technology?
About 96 % complete their program within 150% of normal time (IPEDS graduation rate).
Does this aid apply to mixed-status families or students without an SSN?
It depends on the institution and the state. Ask the institution's financial aid office and the state's student aid agency directly.
Want to know how much aid your child could get?
For families with high school students
Sources & methodology
- IPEDS (Integrated Postsecondary Education Data System), U.S. Department of Education / NCES (net price by income, admissions, cost, graduation, demographics).
- Common Data Set 2024-25 (section C7, admission factors).
- The university's official net price calculator.
- Net price: IPEDS 2023-24, provisional release (COST2_2024)
- Admissions: IPEDS fall 2023 (ADM2023)
- Graduation: IPEDS 2017 cohort, 150% of time (GR2023, final revised release)
- Pell Grant: IPEDS 2022-23 (SFA2223)
- Demographics: IPEDS fall 2023 (EF2023A)
Data definitions
- Admit rate
- Share of first-time degree/certificate-seeking undergraduate applicants who were admitted (IPEDS ADM2023, fall 2023).
- Graduation rate
- Share of the adjusted 2017 total cohort of full-time, first-time degree/certificate-seeking undergraduates (bachelor's or other degree/certificate) who completed a degree or certificate within 150% of normal time (IPEDS GR2023, final revised release, GRRTTOT).
- Hispanic or Latino students
- Share of total enrollment reported as Hispanic or Latino (IPEDS EF2023A, fall 2023).
- Pell Grant
- Share of undergraduates awarded a Pell Grant, the federal grant for low-income students (IPEDS SFA2223, 2022–23).
- Net price by family income
- Average net price: cost of attendance minus average grant or scholarship aid (federal, state or local government, or institutional), for full-time, first-time, degree/certificate-seeking undergraduates awarded Title IV aid (IPEDS COST2_2024, 2023–24, provisional release, NPT4x2).
- Average net price (all incomes)
- Average net price: cost of attendance minus average grant or scholarship aid, for full-time, first-time, degree/certificate-seeking undergraduates awarded grant or scholarship aid from the federal government, state or local government, or the institution (IPEDS COST2_2024, 2023–24, provisional release, NPGRN2).
- Published cost of attendance
- Tuition, fees, books, room and board and other expenses for full-time, first-time undergraduates living on campus (IPEDS IC2023_AY, 2023–24).