MIT tuition and costs
MIT is one of the highest nationally ranked universities according to U.S. News. However, that also means that MIT tuition is higher than the national average. MIT is a great addition to any college list. But, before completing that application, you may want to do some further research into the MIT cost of attendance.
The MIT cost is important to consider as you decide whether to apply to MIT. For some families, MIT tuition may seem over budget. However, the MIT tuition and fees may be lower for an individual student than the listed sticker price.
We’ll unpack the specifics of MIT tuition and other MIT costs below. If you’d like to get a more personalized estimate of the MIT tuition, check out the MIT net price calculator. For a faster version of the MIT net price calculator, use the MIT cost of attendance quick MIT tuition cost estimator.
What is MIT cost of attendance?
According to their website, the total Massachusetts Institute of Technology tuition and fees cost is $82,730. That number is pretty high! So, why does MIT cost so much? Well, it may be to do with ranking. MIT is ranked #2 in National Universities by U.S. News, and it has consistently remained in the top 5 for many years. With such a good ranking, of course, the quality of that MIT education is worth the price of MIT tuition.
However, that number is just the sticker price of MIT tuition and fees. The actual MIT cost for most families is much lower. MIT is committed to meeting 100% of their students’ demonstrated need. For the 2021-2022 academic year, the average annual price paid by a student receiving financial aid was just $19,599.
Additionally, 85% of MIT students graduate debt-free. So, the MIT costs may not be as much of a barrier as they seem! In fact, MIT is one of only six American universities to be both need blind and full need, meaning no student will be disadvantaged in the admissions process because of their financial need. Therefore, the Massachusetts Institute of Technology tuition has become accessible for students of all backgrounds.
Also, the average starting salary for an MIT senior entering industry in 2022 was $115,461. So, the MIT cost of attendance is a good return on investment.
Using the MIT net price calculator
The MIT tuition quick MIT tuition cost estimator will give you a good idea of how much the MIT tuition cost will be for you and your family. This calculator provides a quick estimate of your MIT cost of attendance based on six questions. Less in-depth than the MIT net price calculator, the quick MIT tuition cost estimator can be a great starting point for exploring the affordability of Massachusetts Institute of Technology tuition and fees.
If you’re looking for a more detailed analysis of your expected MIT tuition cost, you may want to turn to the MIT net price calculator. The MIT net price calculator takes roughly 20 minutes to complete, and you may want to have your parents’ recent tax forms or pay stubs on hand. This calculator will give you a more detailed breakdown of your expected MIT tuition and fees.
Although the MIT tuition cost seems high, using either the quick cost estimator or the MIT net price calculator can help you see the realistic MIT cost for your family.
Exploring MIT tuition and fees: how much will attendance really cost?
There are a few different numbers to think about when breaking down the total MIT cost of attendance. That $82,730 number is comprised of MIT tuition and fees and other MIT costs like housing, books, and a meal plan. Let’s examine each individual MIT cost, starting with MIT tuition.
Massachusetts Institute of Technology tuition is listed at $59,750 for the 2023-2024 academic year. This number seems high, but remember that scholarships and grants help cover the cost of your MIT tuition to make it far more affordable.
Next, let’s look at the MIT cost of housing. It’s listed at $12,380. All first-year students live on campus, but the MIT cost of housing may change if you move off campus in your sophomore year.
Additionally, the MIT cost for a meal plan is estimated at $7,010. However, there are several different types of meal plans that you can opt into as a student.
Finally, the last large number included in the MIT tuition and fees breakdown is the personal expenses. MIT estimates that number at $2,304. However, this MIT cost will vary the most from student to student.
So, a lot of different components make up the total MIT cost of attendance: MIT tuition, meal plan, housing, and other MIT costs. Remember that your MIT tuition and fees will vary depending on your financial situation. So, don’t rule out MIT just because of the high MIT tuition cost sticker price!
MIT tuition and MIT cost: Final Thoughts
We’ve broken down the MIT cost of attendance, including the Massachusetts Institute of Technology tuition and other MIT costs. Although MIT costs seem high, remember that MIT is a highly ranked university. Also, all applicants can apply for MIT need-based scholarships and grants.
In conclusion, if MIT is your dream school, don’t be put off by the high sticker price of MIT tuition and fees. With need-based aid, MIT tuition can become affordable for all applicants. Remember, although the Massachusetts Institute of Technology tuition seems high, MIT is one of the best universities in the country.
This guide to MIT tuition was written by Laura Frustaci. If you want to learn more about Massachusetts Institute of Technology including how to get into MIT, we’ve got you covered. CollegeAdvisor.com’s network of 300+ Admissions Experts (and former admissions officers) includes graduates from top universities. Create your free account or schedule a free advising consultation by calling (844) 576-0953.