Massachusetts Institute of Technology (MIT) Tuition and Fees

Massachusetts Institute of Technology (MIT) Tuition and Fees

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      By Susan Guillory

      (Last Updated – 08/2025)

      The Massachusetts Institute of Technology (MIT), located in Cambridge, Massachusetts, is a world-renowned private research university that has been at the forefront of scientific and technological innovation since its founding in 1861.

      Known for its rigorous academic programs and groundbreaking research, MIT has produced numerous Nobel laureates, Turing Award winners, and influential entrepreneurs. With its motto “Mens et Manus” (“Mind and Hand”), MIT emphasizes hands-on problem-solving and real-world impact.

      Because of this, it’s easy to see why students want to attend the prestigious university. Keep reading to learn more on MIT tuition and fees, acceptance rate, top majors, and more.

      Total Cost of Attendance

      When it comes to the best universities to study engineering, Massachusetts Institute of Technology (MIT) is at the top of the list. MIT tuition was $62,396 for the 2024-25 school year, which is higher than the average for four-year private nonprofit institutions in the U.S. of $41,540 per year.

      Costs for 2024-25

      Expenses

      Costs

      Tuition & Fees

      $62,396

      Books & Supplies

      $910

      Room & Board

      $20,280

      Other Expenses

      $2,374

      Total Cost of Attendance

      $85,960

      Financial Aid

      MIT is need-blind, which means even if you can’t afford to pay for MIT tuition out of pocket, your application will still be considered.

      About 72% of MIT’s undergraduates receive financial aid from the institute, and 18% receive federal Pell Grants, with an average of $5,987 per student.

      Explore financial aid options: Massachusetts Student Loan & Scholarships

      Generally, financial aid is monetary assistance awarded to students based on personal need or merit. Students that qualify for financial aid can use it to pay for college costs like tuition, books, and living expenses.

      The federal government is the largest provider of student financial aid. However, aid can also be given by state governments, colleges and universities, private companies, or nonprofits. The different types include:

      •  Scholarships: These can be awarded by schools and other organizations based on students’ academic excellence, athletic achievement, community involvement, job experience, field of study, and financial need.

      •  Grants: Generally based on financial need, these can come from federal, state, private, and non-profit organizations.

      •  Work-study: This federal program provides qualifying students with part-time employment to earn money for expenses while in school.

      •  Federal student loans: This is money borrowed directly from the U.S. Department of Education. It comes with fixed interest rates that are typically lower than private loans.

      Colleges, universities, and state agencies use the Free Application for Federal Student Aid (FAFSA) to determine financial aid eligibility. The FAFSA can be completed online, but note that state and federal and school deadlines may differ.

      You can find other financial aid opportunities on databases such as:

      •  US Department of Education – Search for grants from colleges and universities by state

      •  College Scholarship Service Profile (CSS) – A global college scholarship application used by select institutions to award financial aid

      •  SoFi Scholarship Finder

      Recommended: The Differences Between Grants, Scholarships, and Loans

      Private Student Loans

      When it comes to student loans, 7% of MIT students take out federal loans, while 2% take out private loans. The average private student loan is $27,203.

      Private student loans are funded by private organizations such as banks, online lenders, credit unions, some schools, and state-based or -affiliated organizations. While federal student loans have interest rates that are regulated by Congress, private lenders follow a different set of regulations, so their qualifications and interest rates can vary widely.

      What’s more, private loans have variable or fixed interest rates that may be higher than federal loan interest rates, which are always fixed. Private lenders may (but don’t always) require you to make payments on your loans while you are still in school, compared to federal student loans which you don’t have to start paying back until after you graduate, leave school, or change your enrollment status to less than half-time.

      Private loans don’t have a specific application window and can be applied for on an as-needed basis. However, if you think you may need to take out a private loan, it’s a good idea to submit your FAFSA first to see what federal aid you may qualify for, because it generally has better rates and terms.

      If you’ve missed the FAFSA deadline or you’re struggling to pay for school throughout the year, private loans can potentially help you make your tuition payments. Just keep in mind that you will need enough lead time for your loan to process and for your lender to send money to your school.

      Recommended: Guide to Private Student Loans

      Projected 4-Year-Degree Price

      To attend Massachusetts Institute of Technology for four years, the cost, based on 2024-25 numbers, would be $343,840, including tuition and fees, books, and room and board. This is greater than the average cost of $241,680 for a private university for four years, according to CollegeData.com.

      Here’s some Massachusetts Student Loan & Scholarship Information for you.

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      Find the monthly payment & rate that fits your budget.

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      Undergraduate Tuition and Fees

      Costs for 2024-25

      Expenses

      Costs

      Tuition & Fees

      $62,396

      Books

      $910

      Total Cost of Attendance

      $63,306

      The MIT cost for undergraduate tuition, fees, and books is $63,306.

      Graduate Tuition and Fees

      Costs for 2024-25

      Expenses

      Costs

      Tuition

      $61,990

      Fees

      $406

      Total Cost of Attendance

      $62,396

      MIT tuition for graduate school is, including fees, $62,396. The average cost of tuition for graduate school at a private institution in the United States is somewhat lower at $51,770 per year.

      There are graduate loans available to help with these costs.

      Cost per Credit Hour

      If you’re interested in attending MIT on a part-time basis, the cost is $995/unit (minimum of $5,970). You may also be eligible to take out student loans as a part-time student.

      Campus Housing Expenses

      Costs for 2024-25

      Expenses

      On-Campus Costs

      Off-Campus Costs

      Room & Board

      $20,280

      $2,670+/month*

      Other Expenses

      $2,374

      $2,374

      Total Expenses

      $22,654

      Variable

      *Monthly rent is variable, as it will depend on your location, unit, and whether or not you split the cost with roommates.

      Freshmen are required to live on campus their first year. Across all ages, 84% of students live on campus in one of 20 residence halls (11 residence halls are specifically for undergraduate students).

      MIT Acceptance Rate

      Fall 2023

      Number of Applicants

      26,904

      Number Accepted

      1,345

      Percentage Accepted

      5%

      The MIT acceptance rate is extremely competitive. Only 5% of students who apply get in.

      MIT Admission Requirements

      To get accepted to MIT, here’s what you’ll need to provide beyond your application:

      Required:

      •  High school transcript

      •  Letter of recommendation

      •  SAT or ACT scores

      Recommended:

      •  High school GPA

      •  College preparatory program

      The deadline for early action is November 1, while the deadline for regular action is January 6.

      SAT and ACT Scores

      MIT does require SAT or ACT scores, though it does not require the ACT writing section or the SAT optional essay. Here are the 25th and 75th percentile scores at MIT.

      Test

      25th Percentile

      75th Percentile

      SAT Reading/Writing

      730

      780

      SAT Math

      780

      800

      ACT Composite

      34

      36

      ACT English

      34

      36

      ACT Math

      34

      36

      Graduation Rate

      Here is the graduation rate for students who started at MIT in Fall 2017:

      •  4-year: 82%

      •  6-year: 96%

      Post-Graduation Median Earnings

      After completing undergraduate studies at MIT, students earn on average $143,000 a year. This is almost double the national median average of $80,236 for four-year programs.

      Bottom Line

      While the tuition and fees at the Massachusetts Institute of Technology are high, they reflect the university’s commitment to providing a world-class education and cutting-edge research opportunities. Despite the high costs, MIT offers a range of financial aid options, including scholarships, grants, and work-study programs, to help make its prestigious programs accessible to a diverse student body.

      If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.

      Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.

      View your rate

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