Financial Aid at MIT
Financial Aid Amount Received
$55,629 (92.47% of tuition)
Percent of Financial Aid Received
64% of 4,657 students
2,980 undergraduate students (64% of all students) have received grants, scholarships, and/or federal student loans at Massachusetts Institute of Technology. The percentage of students who received financial aid higher compared to Private (not-for-profit), 4-Years Colleges in Massachusetts.
Compared to similar schools in rankings such as Stanford University and Princeton University, the percentage of students who received financial aid is higher (the average of the schools is 54.89%).
Undergraduate Financial Aid by Type
The average amount of grants of scholarship aid is $55,629 and the average loan amount is $6,091. The average financial aid amount is 92.47% of tuition & fees (tuition & fees: $60,156).
| Number Receiving Aid | Percent Receiving Aid | Total Amount of Aid Received | Average Amount of Aid Received | |
|---|---|---|---|---|
| Grant or scholarship aid | 2,980 | 64% | $165,774,345 | $55,629 |
| Pell Grants | 883 | 19% | $4,792,835 | $5,428 |
| Federal Students Loans | 306 | 7% | $1,863,909 | $6,091 |
Undergraduate Student Financial Aid Comparison Chart
First-time (full-time) Undergraduate Students Financial Aid
For the full-time, first-time undergraduate students (freshmen, in most cases), 654 students have received one or more types of financial aid at Massachusetts Institute of Technology.
The average amount of federal, state, local or institutional grant aid is $58,331 and the average amount of student loans awarded to full-time first-time undergraduate students is $12,071.
The following table shows the financial data by type of aid at Massachusetts Institute of Technology.
First-time Undergraduate Financial Aid by Type
| Number Receiving Aid | Percent Receiving Aid | Total Amount of Aid Received | Average Amount of Aid Received | |
|---|---|---|---|---|
| Any Financial Aid | 674 | 59% | - | - |
| Grant or scholarship aid | 654 | 58% | $38,148,540 | $58,331 |
| Federal Grants | 205 | 18% | $1,813,423 | $8,846 |
| Pell Grants | 205 | 18% | $1,227,423 | $5,987 |
| Other Federal Grants | 147 | 13% | $586,000 | $3,986 |
| State/Local Grants | 26 | 2% | $58,300 | $2,242 |
| Institutional Grants | 648 | 57% | $36,276,817 | $55,983 |
| Student Loans | 86 | 8% | $1,038,103 | $12,071 |
| Federal Student Loans | 74 | 7% | $385,229 | $5,206 |
| Other Student Loans | 24 | 2% | $652,874 | $27,203 |