Financial Aid

The MIT educational experience is designed to offer talented and motivated students access to an enormous set of opportunities and future possibilities regardless of their economic circumstances.

Here are MIT financial aid statistics for undergraduates students from the 2008-2009 academic year.

Undergraduates

• 70% of undergraduates receive either a need-based or merit-based scholarship. Undergraduates receive more than $87.5 million annually in scholarships from all sources.
• 26% of undergraduates come from families with incomes of $75,000 or less.
• 59% of MIT undergraduates are awarded a need-based MIT scholarship that doesn’t have to be repaid, and the average award is $29,900.
• 45% of undergraduates have student loan debt at graduation, and the average debt at graduation is $15,045.
• 64% of undergraduates work during the term (either on campus or under the Federal Work-Study Program, which includes both on-campus and off-campus work). Students’ average term-time earnings are $2,930 per year.

Even more information can be found here:
http://web.mit.edu/sfs/financial_aid/mitgo_undergrad.html