The Massachusetts Institute of Technology (MIT) has unveiled an expanded suite of scholarships and financial aid initiatives to make its renowned education accessible to students from diverse backgrounds.
MIT has reinforced its commitment to meeting all admitted students' demonstrated financial needs to enhance affordability.
MIT’s need-blind admissions policy plays a pivotal role, admitting students based on merit, regardless of their financial circumstances. As part of its commitment, MIT guarantees to meet 100% of each admitted student’s demonstrated financial need, ensuring that financial barriers do not hinder talented students from joining the institution. In a notable shift, the institute has removed loans from financial aid packages, reducing the burden on families and ensuring that financial aid consists solely of scholarships and grants.
MIT offers a variety of scholarships to address the different needs and talents of its students:
Merit-Based Scholarships: Rewarding exceptional academic performance.
Need-Based Scholarships: Providing support based on financial circumstances.
Talent-Based Scholarships: Recognizing students with outstanding arts, athletics, and entrepreneurship achievements.
Notable Scholarship Programs
Several prominent scholarships underscore MIT’s commitment to affordability:
MIT Scholarship: Covers tuition fees for eligible undergraduate students.
Presidential Scholars Program: A full-tuition scholarship awarded to students with exceptional accomplishments.
National Merit Scholarship: Offered to incoming students who have earned National Merit Scholar status.
Streamlined Application Process
MIT has simplified the application process for financial aid:
Complete the FAFSA (Free Application for Federal Student Aid).
Submit the CSS Profile (College Scholarship Service Profile).
Provide required tax documents, including the parent’s and student’s tax returns.
Application deadlines vary, with Early Decision applications due by November 15 and Regular Decision applications due by February 15.
Financial Aid in Numbers
58% of MIT students receive financial aid.
The average scholarship award is approximately $44,899.
MIT’s endowment of financial assistance exceeds $1.5 billion.
Contact Information
For more details, students can contact MIT Student Financial Services:
Phone: +1 617-253-4164
Email:
MIT’s comprehensive approach to scholarships and financial aid reflects its mission to support students in realising their academic aspirations without the weight of economic barriers.
