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.
| Type of Aid | Number Receiving Aid | Percent Receiving Aid | Average Amount of Aid Received |
|---|---|---|---|
| Federal, state, local, institutional or other grant aid | 2,906 | 64% | $50,864 |
| Pell Grants | 859 | 19% | $4,969 |
| Federal Student Loans | 377 | 8% | $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.
| Type of Aid | Number Receiving Aid | Percent Receiving Aid | Average Amount of Aid Received |
|---|---|---|---|
| Any Student Financial Aid | 821 | 75% | - |
| Grants or Scholarship from All Sources | 664 | 60% | $53,162 |
| Federal Grants | 217 | 20% | $8,010 |
| Pell Grants | 217 | 20% | $5,227 |
| Other Federal Grants | 151 | 14% | $4,000 |
| State/Local Grants | 19 | 2% | $2,270 |
| Institutional Grants | 660 | 60% | $50,785 |
| Student Loans | 97 | 9% | $10,070 |
| Federal Student Loans | 81 | 7% | $4,960 |
| Other Student Loans | 26 | 2% | $22,118 |
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