Massachusetts Institute of Technology
Finances
The cost of attending college is a big factor for most students.
On this page, you'll learn the cost of attending Massachusetts Institute of Technology, the net price after need-based aid, and how much students typically pay if they don’t qualify for need-based aid. Let's dive in and talk financials.
Cost Breakdown
The cost of attending Massachusetts Institute of Technology varies, and it’s important to understand the difference between published rates (commonly known as the list price or sticker price) and actual prices. At some schools, most students get a discount to the list price in the form of scholarships.
First, let’s look at the list price breakdown according to MIT. Here's what the costs look like:
These costs are based on what the school most recently tallied. Books, supplies, and other expenses are estimates and are not usually paid directly to the school. Students might also have to pay for school-mandated health insurance. Prices tend to go up each year, and you should visit the school’s website for the latest cost.
Here’s how the total cost for students living on campus has changed in recent years.
Net Price
Although the cost to attend Massachusetts Institute of Technology is $82,730 per year, many students pay less.
Some of this is due to need-based aid being given to students of families based on income and assets. The average net price that families pay is $20,232.
Average Net Price by Income
Net price data is provided by the U.S. government, but it's delayed by 1-2 years. So, the current net prices might be slightly higher. You can get a more accurate estimate of your cost using the college’s Net Price Calculator.
Merit Price
Students from higher income families will generally not qualify for need-based aid, but they might qualify for merit aid.
Some colleges are more generous with merit aid than others. CollegeIQ calculates a Merit Price™ for colleges, which represents the average amount students should expect to pay. We also have a Merit Meter™ rating for colleges, which represents how generous the school is when handing out merit aid compared to other colleges.
The Merit Meter represents how much merit aid the school gives and to how many students. It is based on the percentage of students MIT gives merit aid to and the amount given compared to the cost of attendance, compared to other colleges and universities. Learn more about how the CollegeIQ Merit Meter is calculated.
MIT granted merit aid to about 0% of entering freshmen who did not qualify for need-based aid. The average merit aid discount is $0.
The Merit Price represents CollegeIQ’s estimate of attending Massachusetts Institute of Technology for students who don’t qualify for need-based aid. This number is based on the average merit aid the school gave to freshmen, if at least 40% of students receive merit aid. Learn more about how the CollegeIQ Merit Meter is calculated.
While the amount of merit scholarships a school offers is relevant, the more important number is how much it costs to attend. A school that gives no merit but is cheaper than the merit price of a generous Merit Score is still less expensive.
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