Founded in 1861, the Massachusetts Institute of Technology has the motto “Mens et manus” which translate to Mind and Hand. It is located in Cambridge, Massachusetts, USA. Spread over an area of over 165 acres, it is the top institution in the world according to the QS World University Rankings 2022. There are over 20,000 students who apply to MIT and only 1,457 get selected. MIT has produced 96 Nobel laureates, 59 National Medal of Science winners, 29 National Medal of Technology and Innovation winners, 77 MacArthur fellows and 15 A.M. Turing Award winners. If you are someone who wants to apply to MIT, then the cost of education must have definitely popped up in your mind. This blog is the answer to all your questions regarding the Massachusetts Institute of Technology fees!
This Blog Includes:
- About Massachusetts Institute of Technology,
- Cost of Studying at Massachusetts Institute of Technology for International Students
- Cost of Studying at Massachusetts Institute of Technology for Indian Students
- Cost of Attendance at Massachusetts Institute of Technology
- Financial Aid
- US Scholarships for Indian Students
About Massachusetts Institute of Technology,
The Massachusetts Institute of Technology (MIT) is a private land-grant research university situated in Cambridge, Massachusetts. Since its inception in 1861, MIT has played a key role in the progress of modern technology and research, earning it a place among the world’s finest academic institutions. MIT was formed in response to the United States’ growing industrialization, and it was modeled after the European polytechnic university model, emphasizing practical scientific and engineering laboratory instruction. The institute’s urban campus, which spans for more than a mile (1.6 km) down the Charles River, houses the MIT Lincoln Laboratory, the Bates Center, and the Haystack Observatory, as well as associated facilities like the Broad and Whitehead Institutes. MIT also has a strong entrepreneurial culture, with several notable companies launched or co-founded by MIT graduates. The Association of American Universities (AAU) has awarded more Sloan Research Fellowships to MIT than any other North American university.
Cost of Studying at Massachusetts Institute of Technology for International Students
The Massachusetts Institute of Technology Fees for the 2021–2022 academic year is $77,020. This is approximately INR 57.8 lakhs. This includes the cost billed by MIT including tuition, housing and dining along with an estimated cost of books, supplies and personal expenses. However, most students pay a much lower amount than this due to the need-based financial aid provided by MIT. 85% of the students receive some type of financial assistance such as scholarships and work. This brings the average annual price after receiving aid to USD 17,986 per year (~INR 13.5 lakhs).
Cost of Studying at Massachusetts Institute of Technology for Indian Students
MIT is one of the six colleges in the US that is need-blind and full-need for all the undergraduate, domestic and international students. This means that they do not consider the student’s ability to pay for college in the admission process. Six out of every ten students who apply to MIT receive some form of need-based aid.
Massachusetts Institute of Technology Fees Breakup
|Expense||Cost (USD)||Cost (INR)|
|Student life fee||$368||27,635|
|Books & supplies||$840||63,081|
|Personal expenses||$2,202||1.6 lakhs|
|Total||$77,020 (before financial aid)||57.8 lakhs|
For undergraduates, it is compulsory to stay in the MIT Residence for the entirety of the first year. This makes the transition to college life much easier. For this reason, Massachusetts Institute of Technology Fees for housing for undergraduates is lesser as compared to graduates. The average housing fees for graduates ranges between USD 1,500-2,500. This is approximately INR 1.1-1.8 lakhs per annum.
Also Read: Student Accommodation in USA
Student Visa Cost
As a student, you must first apply and be accepted by a US university/college that is certified by the Student and Exchange Visitor Program (SEVP). After granting admission, you will receive a Form I-20 from the institution’s international student office, which is a paper record of your information in the database called the Student and Exchange Visitor Information System (SEVIS). Visa applicants, including students, are required to pay a non-refundable, non-transferable visa application fee, sometimes referred to as the MRV fee, before applying for a non-immigrant visa. Applicants participating in a US government-sponsored program (programs whose code begins with G-1, G-2, G-3, G-7) are not required to pay the SEVIS fee.
|Visa Type||Description||Fee Amount|
Check out: USA Student Visa
Cost of Attendance at Massachusetts Institute of Technology
|Student life fee||$396||29,913|
|Books & supplies||$850||64,208|
Different types of financial aid are available to take care of your Massachusetts Institute of Technology Fees. Following are some of them:
- The low-income undergraduate students get a first-year grant which takes care of the basic utilities such as towels, sheets, warm coats, etc. It is a grant of USD 2,000 (~INR 1.5 lakhs) and is equally divided between the fall and spring semesters.
- MIT provides aid based on the family’s income as well. The lower the family’s income, the higher is the value of aid provided.
- Massachusetts Institute of Technology Fees can be paid by students by working on campus. They are provided with great opportunities by the Undergraduate Research Opportunities Programme.
- MIT also provides scholarships worth over USD 40,000 to students who require them. A CSS profile has to be created by the candidate and this will help them get considered automatically for scholarships.
US Scholarships for Indian Students
Following are a few scholarships that are provided by the United States government for Indian students:
- Inlaks Shivdasani Foundation Scholarship
- Fulbright-Nehru Research Scholarship
- Stanford Reliance Dhirubhai Fellowships for Indian Students
- The Hubert H. Humphrey Fellowship Programme
- The Indian Trust Fellowship
- American University Emerging Global Leader Scholarship
- Tata Scholarships for Cornell University
- AAUW International Fellowships
- Rotary Foundation Ambassadorial Scholarship
- Akhtarali H. Tobaccowala Fellowship
This was all the information about the Massachusetts Institute of Technology Fees! MIT is a highly competitive school and your application needs to be perfect in order to get an admit. The experts at Leverage Edu would help you in elevating your application to the level that MIT expects. Call us today and avail your free 30-minutes counseling session!