MIT Tuition & CostCambridge, Massachusetts
|Books and Supplies||$800|
|Room and Board||$15,510|
|Other Expenses Budget||$2,098|
The annual list price to attend Massachusetts Institute of Technology on a full time basis for 2018/2019 is $70,240 for all students regardless of their residency. This fee is comprised of $51,520 for tuition, $15,510 room and board, $800 for books and supplies and $312 for other fees. Out of state tuition for Massachusetts Institute of Technology is $51,520, the same as Massachusetts residents.
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Net price is indicative of what it actually costs to attend Massachusetts Institute of Technology when typical grants and scholarships are considered. The net price varies by family income and financial need.
Average Net Price 2017/2018$22,230
|Family Income||Net Price Paid|
|$0 to $30,000||$7,432|
|$30,001 to $48,000||$4,727|
|$48,001 to $75,000||$8,347|
|$75,001 to $110,000||$19,156|
The average reported annual net price for Massachusetts Institute of Technology for students receiving grants or scholarship aid was $22,230 in 2017/2018. Net price includes tuition and required fees, books and supplies, and average cost for room and board and other expenses
|Annual Total Grant Aid||$43,248||58%|
|Federal Student Loan||$5,870||13%|
The average reported annual net price for Massachusetts Institute of Technology for students receiving grants or scholarship aid was $22,230 in 2017/2018.
To gauge a more realistic picture of what it may really cost you out of pocket to go to Massachusetts Institute of Technology, we've modeled a ten year student loan with an original principal value of $82,640. The loan balance of $82,640 is a four year multiple of the $20,660 average net price. This is a estimate of what you could owe upon graduation if you were to qualify for average financial aid and what a degree really may cost. Should you not qualify for financial aid, you may owe significantly more when you graduate. Based on these assumptions, a monthly repayment of $858 could be required to satisfy your student loan.
Please note that financial aid is not guaranteed and is only available for qualifying students. Federal Student Loans are not grants and must be repaid with interest. The current Stafford loan interest rate is 4.529%.
|Stafford Loan Interest Rate||4.5%|
|Time to Pay Off Student Loan||10 years|
|Example Monthly Payment||$857.62|
|Total Interest Paid||$20,274.82|
|Sum of All Loan Payments||$102,914.82|
4 Year Sticker Price$280,960
Based on published tuition prices, we estimate the current cost of a 4 year bachelor's degree and living expenses at Massachusetts Institute of Technology to be $280,960 - assuming graduation in normal time. The estimation assumes a 4.7% annual increase over the next 4 years which has been the recent trend for this school.
|Price Per Credit||3 Credit Class||4 Credit Class||All Residents||$800||$2,400||$3,200|
Estimated cost for a class at Massachusetts Institute of Technology based on published credit hour prices. Note that not all schools allow single class enrollment. These prices should be used for comparison purposes as to how much it may cost to take a class at Massachusetts Institute of Technology versus other colleges.
|Tuition Payment Plan||Yes|
|Prepaid Tuition Plan||No|
|Alternative Tuition Plan||Yes|
|Guaranteed Tuition Plan||No|
Primary data source, U.S. Department of Education https://nces.ed.gov/collegenavigator/?id=166683 IPEDS survey data for Massachusetts Institute of Technology.