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SFS Frequently Asked Questions
How do I get a loan?
If you want a need-based loan such as a federal Direct Stafford Loan, federal Perkins Loan or MIT Technology Loan, you must first apply for financial aid from MIT. This is required to determine how much government loan funding (if any) for which you are eligible, based on your family's ifinancial situation. You can apply directly for most non-need-based student loans and parent loans, For more information and links to pages for specific loans, click here, or contact SFS Student Financial Aid.
What’s the status of my financial aid application?
Financial aid award letters were mailed to incoming freshman (those whose aid applications were complete) in mid-March. SFS Financial Aid staff are still in the process of completing and mailing financial aid awards to upperclassmen and graduate students. You can see your award package when it's ready by logging onto WebSIS. To check on your application, contact SFS Financial Aid at 617-253-4971 or sfs@mit.edu.
What is the price to attend MIT?
The estimated price or student expense budget for undergraduates in 2013-14 are below. The total may be higher or lower depending on the spending decisions you make. There are details for undergraduates and graduate students in "How Will I Afford an MIT Education?"
Tuition and fees $45,016
Room and meals $13,224
Books and personal expenses $2,790
Total price for MIT undergraduates $61,030
2014-2015 Undergraduate Student Tuition & Fees
Freshmen Entering Fall 2014
Per-Unit Tuition Rate - $667
Note: All incoming freshman are required to live on campus. Permission to live off campus must be granted by Student Affairs.
Resident Commuter
Tuition $48,030 $48,030
Orientation Fee (fall semester only) 236 236
Activity Fee 246 246
Transportation Fee 120 120
Media Fee 10 10
Technology Fee 380 380
Room & Fees 7,280 0
Dining1 5,120 2,470
Books/Supplies & Miscellaneous3 2,400 2,400
Transportation Allowance3, 4 0 680
Totals $63,822 $54,572




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