About Massachusetts Institute of Technology (MIT)
On Campus Housing
Massachusetts Institute of Technology, which is located in Cambridge, MA is a private university. Massachusetts Institute of Technology covers an area of 166 acres. In 1861, Massachusetts Institute of Technology was founded. Keeping the pursuit of research, innovation, and excellence at the center, Massachusetts Institute of Technology has been imparting quality education to its students. The motto of the varsity is Mens et Manus (Latin) and its official colors are cardinal red and silver gray. In addition to over 4,530 undergraduate students, MIT also boasts of over 6,990 students in its postgraduate courses, taking the total enrollment to over 11,520 (Fall 2019). To teach various courses to the students, the school has employed a total of 1,074 faculty. At Massachusetts Institute of Technology, around 99% of the students are 24 and under. And, when it comes to gender distribution at the varsity, around 47% of the students are females and 53% are males. Finally, at MIT around 30% are Asian, 29% are white, and 15% belong to Hispanic ethnicity. The college has produced several achievers in its 159 years of existence and some of the notable alumni are Dawson Engler (Professor), Paul Krugman (Commentator, Journalist), Charles Koch (Businessperson, Industrialist), and James Woods (Television producer, Film Producer). Massachusetts Institute of Technology's sporting teams are affiliated to NCAA Division III – NEWMAC, NEFC, Pilgrim League, and Division I – EARC and EAWRC (rowing). Like several universities in the country, athletics play an important part here as well. Taking into account all the undergraduate and graduate degrees, including both residential and online, MIT offers around 103 programs. The university also has a long list of accreditations. It has been accredited by AACSB (Association to Advance Collegiate Schools of Business), ABET (Accreditation Board for Engineering and Technology, Inc.), CSAB (Computing Sciences Accreditation Board), and NAAB (National Architectural Accrediting Board). The total endowment of the Massachusetts Institute of Technology is around $18 billion (2020).
The rankings provided by Forbes and US News are trusted everywhere, as long as US universities are concerned. Massachusetts Institute of Technology has been ranked at the 4th position among other universities by Forbes. It is to be noted that Forbes decides on the rankings of the college based on common metrics like acceptance rate, endowment, benefits, and SAT scores, among others.
Annual Cost to Attend
Average Annual Cost
The next two things to keep in mind before applying to MIT are the tuition fees and the cost of living during the course tenure. The annual full-time cost of attendance comes out to be approximately $73,160. This cost includes the average annual tuition cost ($53,790), books and supplies ($820), room and boarding ($16,390), and budget for other expenses ($2,160). Students can also explore numerous financial aid options offered by the university.
Highest Degree Offered
36% percentage of students who recieved an income-based Federal Pell Grant intended for low-income students.
Median Household Income
$77,426 per year
Campus Emergency Phones
Mobile Campus Emergency Alert
Students who want to enjoy the campus and lodging life can benefit from the on-campus housing facility provided by MIT. The normal expense for on-campus housing is $16,390 per year. The students at Massachusetts Institute of Technology have several dining and meal plan options to choose from. Moreover, the average meal plan costs around $5,620 per year. To ensure the safety and security of students, the college has a number of campus safety and security measures in place. Some of these features include 24-hr security patrol, campus emergency phones, 24-hr escort safety rides and mobile campus emergency alert. The number of female and male students at the college are 53% and 47%, respectively.
Median Earnings 6 Years After Graduation
Median Earnings 10 Years After Graduation
Students Receiving Gift Aid
Average Aid Per Year
Students Receiving Federal Grants
Average Aid Per Year
Average Grant & Scholarship by Family Income
$30K - $48K
$48K - $75K
$75K - $110K
Total Needs based Scholarships/Grants
Total Non-Needs based Scholarships/Grants
In case the students at Massachusetts Institute of Technology face any financial issues concerning the fees and cost of living, and find the same to be high, they can seek help from the financial aid department of the varsity. It focuses on settling the issues that students face, and candidates can be assisted with scholarships, grants, and student loans. At the college, the average federal grant comes to be around $8,159, whereas the financial aid is $47,150. The students at the college are provided with state aid and institutional aid. The state aid stands at $2,349, while the institutional aid is $47,150. The total need-based scholarships/grants offered at MIT based on students' financial needs add up to $130,225,282 per year. Meanwhile, the total non-need-based scholarships/grants in a year come to around $3,499,690.