Scholarships
MIT is a true meritocracy.
The Institute admits students without regard to their families’ financial circumstances, and awards financial aid to them solely on the basis of need. Thus, individuals from very modest backgrounds are given access to MIT. Likewise, the Institute is affordable for those of greater means who nonetheless need financial assistance.
- 15% of MIT undergraduates come from families earning less than $40,000 a year.
- 1 in 4 students pays no tuition at all, thanks to MIT’s financial aid endowment and the Institute’s willingness to commit substantial amounts of its general funds to scholarships.
- Overall, about 60% of MIT undergrads receive a need-based scholarship from the Institute.
- As the cost of an MIT education approaches $50,0000 annually, the role of financial aid in ensuring both access and affordability is increasingly critical.
Financial aid
Supporting the Institute’s stellar students is a little bit like going into venture capital. MIT students arrive with amazing talent and drive, and an extraordinary commitment to learning. And when they leave, there’s no limit to what they can accomplish. So even a modest investment in a scholarship can yield immeasurable rewards over the long term.
Our undergraduate financial aid packages must be strengthened if we are to continue to bring the best students to the MIT campus. We must also protect our need-blind admissions policy, to ensure that our community can reap the benefits of variety. Almost nowhere in the world is a broad range of perspectives more important than it is here.
Current Campaign for Students financial aid priorities are to —
- Maintain MIT’s commitment to need-blind admissions and need-based aid;
- increase endowed scholarships to the point where the undergraduate aid program becomes self-sustaining; and
- reduce from $5,250 the contribution students are required to make each year through loans and term-time earnings.
To help MIT continue to attract the world’s brightest undergraduate students, consider directing your gift to one of our existing scholarship funds.
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| Scholarships | Add to my gift form |
Or, to discuss a special gift to financial aid at MIT, please contact:
Susan A. Wilson
Associate Director, Student Financial Services
(JavaScript must be enabled to view this email address)
617.258.5609
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