The Massachusetts Institute of Technology (MIT) is widely recognized as one of the leading US universities. It has earned the top spot in the QS World University Rankings 2025 with an impressive score of 100. This achievement underscores MIT’s status as a premier academic institution. While gaining admission to this prestigious university is a dream for many, financial constraints can pose significant challenges for some students. To address these hurdles, MIT offers a range of scholarships and financial aid options, enabling students to effectively manage tuition fees and other educational expenses. Take a look at the list of financial aids and grants offered by the institute .
MIT's scholarships are granted based on financial need and are supported by the university’s endowment, donations from alumni and supporters, and general funds. Approximately 58% of undergraduates receive MIT Scholarships, with the median amount set at $66,663 for the 2023–2024 academic year.
Students applying for financial aid and completing the College Scholarship Service (CSS) Profile are automatically considered for these scholarships. If selected for an MIT Scholarship, recipients must fill out an annual Student Information Review Form to facilitate matching with appropriate scholarships from donors. Additionally, students may be requested to write thank-you notes to their scholarship donors, who often express interest in the recipients’ experiences.
Types of scholarships at MIT
MIT is among just nine colleges in the United States that maintain a need-blind admissions policy and fully meet the financial needs of all undergraduate students, both domestic and international. Approximately 60% of students benefit from need-based financial aid at MIT. For the 2023–2024 academic year, the median annual amount paid by undergraduates who received an MIT Scholarship was $12,938. Take a look at the type of scholarships one can avail at MIT.
First Year Grant
MIT offers a First-Year Grant designed to support low-income students entering their freshman year, helping them manage the additional costs associated with transitioning to college life. This $2,000 grant assists with expenses such as bedding, towels, and winter clothing necessary for Boston's cold climate. The grant is allocated equally across the fall and spring semesters and is credited to the student’s account alongside other financial aid once they have registered for classes. It is important to note that this grant is exclusively available to first-year students.
MIT Scholarships by family income range
The following chart illustrates the distribution of MIT Scholarships according to family income and assets. These scholarships are grants that do not require repayment, with 58% of undergraduates receiving one during the 2023–2024 academic year. The median net price represents the amount students will still need to contribute towards their education.
Other scholarships for MIT StudentsAt MIT, many students receive outside scholarships from various sources, including state grants, local businesses, federal grants, private aids, non-profit organizations, and Veterans Affairs (VA) benefits. These scholarships are intended to support students' education and are factored into the overall financial aid package. When applying for financial aid, students are automatically considered for federal grants such as the Pell Grant and the Supplemental Educational Opportunity Grant. Many states also offer their own financial aid programs for residents. Students are encouraged to use scholarship search engines like collegeboard.org and fastweb.com to identify opportunities.
MIT's scholarships are granted based on financial need and are supported by the university’s endowment, donations from alumni and supporters, and general funds. Approximately 58% of undergraduates receive MIT Scholarships, with the median amount set at $66,663 for the 2023–2024 academic year.
Students applying for financial aid and completing the College Scholarship Service (CSS) Profile are automatically considered for these scholarships. If selected for an MIT Scholarship, recipients must fill out an annual Student Information Review Form to facilitate matching with appropriate scholarships from donors. Additionally, students may be requested to write thank-you notes to their scholarship donors, who often express interest in the recipients’ experiences.
Types of scholarships at MIT
MIT is among just nine colleges in the United States that maintain a need-blind admissions policy and fully meet the financial needs of all undergraduate students, both domestic and international. Approximately 60% of students benefit from need-based financial aid at MIT. For the 2023–2024 academic year, the median annual amount paid by undergraduates who received an MIT Scholarship was $12,938. Take a look at the type of scholarships one can avail at MIT.
First Year Grant
MIT offers a First-Year Grant designed to support low-income students entering their freshman year, helping them manage the additional costs associated with transitioning to college life. This $2,000 grant assists with expenses such as bedding, towels, and winter clothing necessary for Boston's cold climate. The grant is allocated equally across the fall and spring semesters and is credited to the student’s account alongside other financial aid once they have registered for classes. It is important to note that this grant is exclusively available to first-year students.
MIT Scholarships by family income range
The following chart illustrates the distribution of MIT Scholarships according to family income and assets. These scholarships are grants that do not require repayment, with 58% of undergraduates receiving one during the 2023–2024 academic year. The median net price represents the amount students will still need to contribute towards their education.
Other scholarships for MIT StudentsAt MIT, many students receive outside scholarships from various sources, including state grants, local businesses, federal grants, private aids, non-profit organizations, and Veterans Affairs (VA) benefits. These scholarships are intended to support students' education and are factored into the overall financial aid package. When applying for financial aid, students are automatically considered for federal grants such as the Pell Grant and the Supplemental Educational Opportunity Grant. Many states also offer their own financial aid programs for residents. Students are encouraged to use scholarship search engines like collegeboard.org and fastweb.com to identify opportunities.
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