#8 Best Colleges in America

MIT Tuition & Cost

Cambridge, Massachusetts

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How much does it cost to attend?

Sticker Price
Costs for Massachusetts Institute of Technology
Fee Cost
Books and Supplies$840
Other Fees$368
Room and Board $18,100
Other Expenses Budget$2,202

Annual Prices

The annual list price to attend Massachusetts Institute of Technology on a full time basis for 2021/2022 is $77,020 for all students regardless of their residency. This fee is comprised of $55,510 for tuition, $18,100 room and board, $840 for books and supplies and $368 for other fees. Out of state tuition for Massachusetts Institute of Technology is $55,510, the same as Massachusetts residents.

All price data is sourced from the 2021/2022 U.S. Department of Education National Center for Education Statistics survey.

Net Price

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 2019/2020
Net Price by Income Massachusetts Institute of Technology
Family Income Net Price Paid
$0 to $30,000$5,193
$30,001 to $48,000($2,603)
$48,001 to $75,000$2,834
$75,001 to $110,000$14,291

The average reported annual net price for Massachusetts Institute of Technology for students receiving grants or scholarship aid was $19,998 in 2019/2020. Net price includes tuition and required fees, books and supplies, and average cost for room and board and other expenses

Financial Aid

62% of full-time undergrad Massachusetts Institute of Technology received financial aid in the form of grants, scholarships, fellowships from the institution or from Federal, State or local government agencies. This aid averaged $53,162 per student during the 2019/2020 school year. Grant and scholarship aid does not need to be paid back. 7% of students received Federal Student Loans averaging $4,960 and 2% of undergrads took out private student loans averaging $22,118.

Finanical Aid Massachusetts Institute of Technology
Type Avg./Student Students Receiving
Total Grant and Scholarship Aid $53,162 62%
Institutional Grants and Scholarships $50,785 60%
Pell Grants $5,227 20%
Other Federal Grants $4,000 14%
State and Local Grants $2,270 2%
Federal Student Loans $4,960 7%
Other Student Loans $22,118 2%

Student Loans

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 $788 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 2.75%.

Example Loan $82,640
Stafford Loan Interest Rate 2.75%
Time to Pay Off Student Loan 10 years
Example Monthly Payment $788.48
Total Interest Paid $11,977.21
Sum of All Loan Payments $94,617.21

Projected 4 Year Degree Price

4 Year Sticker Price
Year All Residents
1 $77,020
2 $79,378
3 $81,809
4 $84,314

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 $308,080 - assuming graduation in normal time. The estimation assumes a 3.1% annual increase over the next 4 years which has been the recent trend for this school.

Credit Hour Cost and Price per Class

Credit Hour and Class Costs at Massachusetts Institute of Technology
Price Per Credit 3 Credit Class 4 Credit Class
All Residents $860 $2,580 $3,440

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 Plans Available

Massachusetts Institute of Technology Payment Plans
Tuition Payment Plan Yes
Prepaid Tuition Plan No
Alternative Tuition Plan Yes
Guaranteed Tuition Plan No
Costs for Similar Colleges 

Primary data source, U.S. Department of Education https://nces.ed.gov/collegenavigator/?id=166683 IPEDS survey data for Massachusetts Institute of Technology.