MIT scholarships aim to meet 100% of demonstrated financial need of its students. The university has estimated to provide 161.8 million USD as need-based award in 2022-2023, compared to 143.8 million USD in the previous year. MIT scholarships are offered through MIT general funds, endowment, and gifts from friends and alumni of Massachusetts Institute of Technology. Undergraduate students are offered MIT scholarships via a centralized system, postgraduate students are considered for assistantships and fellowships through their respective departments.

The average cost of pursuing the programs at Massachusetts Institute of technology is 73,160 USD (60 lakhs INR). With financial aid programs like MIT scholarships, fellowships, and grants, this overwhelming cost is reduced by almost 60% for international students. At MIT, 80% graduates completed education debt free, compared to the national average of only 40%. The average MIT scholarship was 53,997 USD (44.34 lakhs INR) for the academic year of 2022. 

Students additionaly receive aid from external sponsors to cover their educational expenses. The university allows all students to work while studying, regardless of financial need. International students can work up to 20 hours per week, according to the US student visa guidelines.

The details of MIT scholarships, based on the family income of the students are provided below:

Income Range (USD) Students Who Received MIT Scholarships Average MIT Scholarship Expenses Covered
Below 65,000  99% 68,679 Tuition, fees, housing, and $1,251 for dining expense
65,000 to 100,000 98% 61,387 Tuition, fees, and $5,509 housing cost
100,000 to 140,000 97% 52,980 95% of tuition
140,000 to 175,000 96% 44,467 80% of tuition
175,000 to 225,000 90% 34,242 62% of tuition
Over 225,000 47% 22,354 40% of tuition

Check out: MIT Scholarships (Spanish)

MIT Scholarships for Undergraduate Programs

Around 58% students pursuing undergraduate programs at Massachusetts Institute of Technology are offered with need-based financial aid. 33% of the MIT scholarship recipients receive grants equal to or more than their tuition fees. The remaining expenses of the students were covered either by themselves or by their family. The university considers the following factors to calculate the aid for MIT scholarships:

  • Number of people in the family
  • Number of children currently attending college as an undergraduate
  • Permanent residence
  • Total parent income from all sources, whether taxed or untaxed
  • Taxes paid
  • Unreimbursed medical expenses
  • Private school tuition for younger siblings
  • Total assets

How to Apply for Undergraduate MIT scholarships

Applying for undergraduate financial aid at MIT, USA is a uniform process for both domestic and international students. The applicants need to complete the following steps to apply for the aid:

  • CSS Profile: It is a Collegeboard tool used to determine an applicant’s eligibility for the MIT scholarship program. To complete their 2023-24 profile applicants need to provide following documents:
    • Parent’s 2021 income tax statements
    • Any other records of money earned
    • Current bank account balances 
    • Records of investments
    • Records of untaxed income

In addition to the submission of documents, applicants must answer the supplementary questions. The CSS profile code for MIT is 3514.

  • Parental Tax Return or Income Documentation: Once applicants have submitted their CSS profile, they need to provide their parents tax return statements to Collegeboard's secure IDOC (Institutional Documentation Service) for processing.

The application deadlines for undergraduate MIT scholarships are:

  • Early Action: November 30
  • Regular Action: February 15
  • Continuing Students: February 15

MIT Scholarships for Postgraduate Students

The scholarships and other financial aid options for postgraduate programs at MIT are majorly decentralized and managed directly by individual graduate departments. While a few programs offer partial tuition fee waiver MIT scholarships, graduate students are majorly assisted via fellowships.

At MIT a graduate fellowship provides partial or full tuition fees to international students along with a stipend to cover living expenses. The fellowship amount ranges upto 4,000 USD (3.28 lakhs INR). For a few graduate programs, MIT also provides need-based scholarships. However, the aid amount depends upon the applicant's requirement and chosen degree program.

MIT offers graduate fellowships, teaching assistantships, and research assistantships through various departments and labs. The research assistant and teaching assistant stipends are considered as “earned income” for tax purposes.

External Scholarships for International Students

While domestic students are entitled to federal grants and scholarships, such is not possible for international students. If they are unable to secure MIT scholarships and grants, then students need to depend on external scholarships, grants or loans. These scholarships, funded by trusts, corporate firms, and the government, allow students to pursue higher education in USA. Such scholarships are essentially significant for postgraduate-level students, as MIT scholarships are limited for masters and doctoral programs.

To study at Massachusetts Institute of Technology, Indian students can apply for the following external scholarships:

Scholarship Name Scholarship Benefits Scholarship Eligibility
Fulbright-Nehru Master’s Fellowships Tuition fees | partial living expenses | Healthcare expenses Minimum 55% in bachelor’s program | At least 3+ years of work experience; Community service experience
JN Tata Endowment for Higher Education of Indians Loan scholarship 1,00,000 and 10,00,000 INR | Additional gift worth 75,000 INR (case dependent) Over 60% in bachelor degree | Below 45 years of age | Enrolling in 2-year master’s program
Debesh-Kamal Scholarship for Higher Studies 1,00,000 INR for tuition fees Below 30 years of age | Preferably beginning degree in social science or related program
Narotam Sekhsaria Foundation Scholarships Interest-free loan Over 60% in undergraduate program | Below 30 years of age
Inlaks Shivdasani Foundation Scholarships Up to 100,000 USD Minimum 70% in bachelors program | Below 30 years of age
KC Mahindra Education Trust Scholarship Interest free loan of 4,00,000 to 8,00,000 INR At least 65% in undergraduate program

As demonstrated, MIT is committed to offering unwavering support through MIT scholarships and fellowships, especially to international students on a F1 visa. Therefore, students are encouraged to explore the Massachusetts Institute of Technology scholarships during the pre-admission process itself. With a combination of MIT scholarships and fellowships and external scholarships, international students can pursue their chosen degree program at an affordable range.