The Massachusetts Institute of Technology (MIT) offers one of the world’s most generous need-based financial aid programmes, ensuring that talented students from all backgrounds can access a world-class education regardless of their financial circumstances. MIT Scholarships are awarded entirely based on demonstrated financial need and never on academic merit, athletic ability, or other non-financial factors.
Each year, thousands of undergraduate students receive substantial financial support through MIT’s institutional grants, making studying at one of the world’s leading universities more affordable.
About MIT Scholarships
The MIT Scholarship is the university’s primary source of financial aid for undergraduate students. The scholarship helps bridge the gap between the total cost of attendance and what a student’s family is expected to contribute.
Unlike student loans, MIT Scholarships are grants that do not need to be repaid.
Approximately 57% of MIT undergraduate students receive MIT Scholarships, with the median scholarship award reaching $69,777 during the 2024–2025 academic year.
Scholarship Benefits
Successful applicants may receive:
- Need-based MIT Scholarship funding
- Grants that never require repayment
- Financial support covering a significant portion of tuition and educational costs
- Access to additional institutional grant programmes
- Reduced financial burden throughout undergraduate studies
First-Year Grant
MIT also provides a First-Year Grant worth $2,000 for students with the highest financial need.
The grant helps cover essential transition expenses, including:
- Bedding and dorm supplies
- Winter clothing
- Academic necessities
- Other first-year living expenses
The grant is distributed equally across the fall and spring semesters.
Health Insurance Grant
Eligible students with the highest demonstrated financial need may receive funding that covers the full cost of the MIT Student Health Insurance Plan (MIT SHIP).
This support is available to students who do not already have qualifying health insurance coverage.
Eligibility
Students applying for undergraduate financial aid are automatically considered for MIT Scholarships.
Scholarships are awarded solely based on:
- Demonstrated financial need
- Family financial circumstances
- Cost of attendance
MIT does not award institutional scholarships based on:
- Academic performance
- Test scores
- Athletic ability
- Leadership achievements
- Extracurricular activities
How to Apply
Applying for MIT financial aid is straightforward.
Step 1: Apply for Admission
Submit your undergraduate application to MIT.
Step 2: Complete Financial Aid Forms
Applicants seeking financial aid must complete the required financial aid application, including the CSS Profile and any additional documentation requested by MIT Student Financial Services.
Step 3: Automatic Scholarship Consideration
Students who submit the required financial aid materials are automatically considered for MIT Scholarships.
No separate scholarship application is required.
Step 4: Receive Financial Aid Offer
Eligible students receive a financial aid package outlining grants, scholarships, and any additional support available.
Scholarship Renewal
Students receiving MIT Scholarships generally remain eligible throughout their undergraduate studies, provided they continue to demonstrate financial need and satisfy MIT’s financial aid requirements.
Recipients may also be asked to complete an annual Student Information Review Form so that MIT can match them with scholarship funds supported by donors.
Why Choose MIT?
MIT consistently ranks among the world’s leading universities and offers students:
- World-class education
- Cutting-edge research opportunities
- Renowned faculty
- Innovation-driven learning environment
- Strong global alumni network
- Exceptional career outcomes
- Access to entrepreneurship and technology ecosystems
Financial Aid Philosophy
MIT is committed to ensuring that financial circumstances never prevent talented students from attending the university.
Its need-based financial aid model reflects the institution’s commitment to making higher education accessible to outstanding students from around the world.
Conclusion
The Massachusetts Institute of Technology Scholarships provide substantial financial support to undergraduate students with demonstrated financial need. With generous institutional grants, first-year support, health insurance assistance, and a commitment to affordability, MIT continues to make one of the world’s best educational experiences accessible to deserving students regardless of their financial background.
Students interested in studying at MIT are encouraged to complete their admission and financial aid applications early to be automatically considered for all available institutional scholarship opportunities.
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