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The annual student budget, or cost of attendance, is the total amount we estimate it will cost a student to attend MIT for one year. It includes costs that are billed by MIT, such as tuition, housing, food, and estimates for other expenses, such as books, supplies, and personal expenses.
The full price of an MIT education is $85,960 for the 2024–2025 academic year. However, most students pay far less than that. We offer full-need financial aid, which means we meet 100% of your demonstrated financial need for all four years of your undergraduate career.
The median net price is the amount of money you will still need to pay toward your education. Families choose how to pay for their MIT education in a variety of ways, including from income and savings, outside scholarships, student employment, and federal loans. Income range.
Undergraduate Cost of Attendance. Tuition rates are set by the Academic Council each year in spring for the following academic year. The annual cost of attendance is the total amount we estimate it will cost a student to attend MIT for one year.
The Quick College Cost Estimator provides a quick estimate based on six questions. For a more in-depth review and to determine Pell eligibility you will need to use the Net Price Calculator.
The cost of attendance for the 2024–2025 academic year is $85,960. This number is actually much lower than what it costs MIT to educate students. However, most students pay far less than the total cost of attendance because of our need-based financial aid.
For more detailed information regarding the cost of attendance for the 2024–2025 academic year including tuition and fees; books and supplies; and housing, food, and transportation; please visit the undergraduate and graduate pages on the SFS website.
How much does MIT cost? Detailed information about tuition and fees, housing and dining, and books and personal expenses are broken down in detail here.
Learn more about how much MIT costs (less than you think), how money affects admissions (it doesn’t), and how you can get help paying for your education.
The increase will more than offset a 3.75 percent percent rise in tuition, to $61,990 ($62,396 including fees), and other living expense increases. The estimated average MIT scholarship for students receiving financial aid next year is $63,146.