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MIT Financial Aid

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Number Received Financial Aid (All Undergraduate) 2,906
Percent Received Financial Aid(All Undergraduate) 64%
Average Aid Amount $50,864
Number Received Financial Aid (Freshmen) 821
Percent Received Financial Aid (Freshmen) 75%

Financial Aid Information at MIT

For the academic year 2021-2022, a total of 2,906 students (64% of undergraduate students) received one or more financial aid including grants, scholarships, and/or student loans. The average financial aid amount is $50,864. For freshmen (Full-time, first-time degree-seeking undergraduate students), 821 students (75% of enrolled students) received financial aid.
The 2023 undergraduate tuition & fees at Massachusetts Institute of Technology is $57,986, for reference.

All Undergraduate Students Financial Aid

For the academic year 2021-2022, a total of 2,906 students (64% of all students) have received grants or scholarships and the average received aid amount is $50,864. It includes federal, state, local, institutional, or other sources of grant aid. The following table describes the financial aid statistics by aid types at Massachusetts Institute of Technology for all undergraduate students.
Undergraduate Student Financial Aid at Massachusetts Institute of Technology
Type of AidNumber Receiving AidPercent Receiving AidAverage Amount of Aid Received
Federal, state, local, institutional or other grant aid2,90664%$50,864
Pell Grants85919%$4,969
Federal Student Loans3778%$5,882

Beginning Students Financial Aid

a total of 821 beginning students (75% of all freshmen) have received any financial aid and 686 students (62% of all freshmen) awarded any student loans. The headcount includes the number of full-time, first-time degree-seeking beginning undergraduate students. The below table shows the number and amount by the source of financial aid at Massachusetts Institute of Technology.
Beginning Students (Freshmen) Financial Aid at Massachusetts Institute of Technology
Type of AidNumber Receiving AidPercent Receiving AidAverage Amount of Aid Received
Any Student Financial Aid82175%-
Grants or Scholarship from All Sources66460%$53,162
Federal Grants21720%$8,010
Pell Grants21720%$5,227
Other Federal Grants15114%$4,000
State/Local Grants192%$2,270
Institutional Grants66060%$50,785
Student Loans979%$10,070
Federal Student Loans817%$4,960
Other Student Loans262%$22,118

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