MIT is committed to ensuring that a world-class education remains within reach for hardworking families, thanks to its strong endowment and its legacy of generous support.
An MIT degree goes far: Not only is MIT ranked #1 among its peers for economic mobility, it is also ranked first for the average starting salary of its graduates.
Affordability
MIT is the only university in the nation that can say all three of these things:
- MIT has never allowed preferences for legacy applicants.
- MIT is entirely need-blind: We admit applicants before we know their financial circumstances.
- Once admitted, 100% of demonstrated student need is met through MIT financial aid.
Because MIT has steadily increased financial aid, the real cost of our education has actually decreased in recent years.
Free tuition for 80% of American families
Starting in fall 2025, MIT will offer free tuition for students from the 80% of American families earning less than $200,000, and attendance at no cost for students from the 50% of American families earning less than $100,000.
87% of the Class of 2024 graduated without debt
Nearly 60% of our undergraduates receive financial support through the MIT endowment. A remarkable 87% of undergraduates in 2024 graduated without any debt at all.
Over the last two decades, the average costs in real dollars have decreased 32% for undergraduates receiving financial aid.
Economic Mobility
MIT is a mobility booster
- MIT is ranked #1 by the Wall Street Journal for its graduates’ starting salaries ($126,438) and is first among its peers for economic mobility.
- Among our undergraduates, 20% are the first in their family to attend college.
- In the last two years, MIT has tripled enrollment from rural areas and small towns.
Bottom Line
MIT ensures affordability by meeting admitted students’ full financial need, offering tuition-free education for most American families, and propelling graduates to successful careers.