Undergraduate 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.
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