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About Massachusetts Institute of Technology (MIT)

Massachusetts Institute of Technology, more commonly known as MIT, is a highly selective private school located in the city of Cambridge, Massachusetts. The school was founded back in 1861 and has since become one of the most renowned institutions in the world for higher education. Undergraduate enrollment at MIT currently sits at 4,638 students and the school boasts an acceptance rate of just 4%. Tuition and fees for the 2021-2022 academic year are estimated to be $55,878. However, thanks to its large endowment, the average net price for full-time beginning students is just $30,958. Retention rates at MIT are high with 99% of full-time students returning for their sophomore year. The school also boasts a 96% graduation rate and a student-to-faculty ratio of 3 to 1.

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Acceptance Rate

Retention Rate (Full-time Students)
Graduation Rate

Application Fee: $75

General Information

Address: 77 Massachusetts Avenue, Cambridge, Massachusetts 02139-4307
Phone: (617) 253-1000
Student Population: 11,934 (4,638 undergraduate)
Student-To-Faculty Ratio: 3 to 1
Religious Affiliation: None

Degrees Offered

Bachelor’s Degree
Master’s Degree
Doctor’s Degree – Research/Scholarship

Special Learning Opportunities

ROTC (Army, Navy, Air Force)
Teacher certification
Distance education – graduate courses offered, programs not offered
Study abroad

Student Services

Academic/career counseling service
Employment services for students
Placement services for completers
On-campus day care for students’ children


Admissions at MIT are extremely selective, with only about 4% of applicants receiving acceptance offers. MIT takes a well-rounded approach to admissions, accounting for not just academic accomplishments but also extracurricular involvement and letters of recommendation. A strong academic record, particularly in math and science courses, is essential for admission to MIT. In addition, the university values leadership experience, creativity, and a diverse range of interests and backgrounds. The most important aspect of the application is a student’s statement and essays, which give insight into their unique qualities and motivations. MIT also requires applicants to submit standardized test scores (SAT or ACT) as well as transcripts from all previous high schools attended.

86% of accepted students choose to enroll at MIT, demonstrating the school’s appeal to highly motivated and talented individuals. Overall, The Massachusetts Institute of Technology offers a world-class education that prepares students for success in their chosen fields, making it a top choice for prospective college students.

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Acceptance Rate: 4%
Number of Applicants: 33,240
Percent Admitted Who Enrolled: 86%
Application Fee: $75
Transfer Credit Accepted: Advanced placement (AP) credits


Non-U.S. Citizen
Two or More Races
Black/African American
American Indian/Alaska Native
Native Hawaiian/Pacific Islander

Enrollment (Fall 2021)

Total Enrollment11,934
Undergraduate Enrollment4,638
Undergraduate Transfer-in Enrollment20
Graduate Enrollment7,296

Test Scores

SAT 25th-75th Percentile1,510-1,570
ACT 25th-75th Percentile34-36
Test scores may play a role in college applications, but they are not the only factor that schools consider when making admissions decisions.

Undergraduate Student Gender


Tuition & Costs

In addition to the $55,878 in tuition and fees for the 2021-2022 academic year, MIT estimates that books and supplies will cost approximately $840, room and board on campus will cost $18,100, and other living expenses on campus will be about $2,202. This brings the total estimated expenses for students living on campus to $77,020. Students who choose to live off campus can expect lower expenses of about $56,718.

Overall, the cost of attending MIT may be high, but the investment in one’s future can pay off significantly through access to networking opportunities and successful alumni connections.

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Estimated 2021-2022 Tuition & Costs

Estimated Expenses2021-2022
Tuition and Fees$55,878
Books and Supplies$840
On-campus Room and Board$18,100
On-campus Other Expenses$2,202
Total Expenses2021-2022

Financial Aid & Net Price

MIT offers a variety of options for financial aid, including grants and scholarships, work-study programs, and loans. In the 2020-2021 academic year, 4,358 students received a total of $148,230,621 in grant or scholarship aid from MIT. This averages out to $34,013 in aid received per student.

Pell grants are also available for low-income students, with 867 students receiving a total of $4,307,429 in aid during the 2020-2021 school year. The average Pell grant award is $4,968. MIT also offers federal student loans for those who need additional funding for their education; 293 students received a total of $1,764,887 in loans during the 2020-2021 academic year, with an average loan award of $6,024.

Overall, the Massachusetts Institute of Technology is dedicated to making a top-quality education accessible through financial aid options. Prospective students should not let concerns about cost deter them from applying; for those who are accepted, MIT’s financial aid programs can make attendance at this prestigious university a possibility. The average net price for full-time beginning students is $30,958, demonstrating the university’s commitment to helping students afford their education.

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Undergraduate Student Financial Aid (2020-2021)

Type of AidStudentsAverage
Grant or Scholarship4,358$34,013
Pell Grants867$4,968
Federal Student Loans293$6,024
Full-Time Beginning Students
Average Net Price$30,958
Full-time beginning undergraduate students who were awarded grant or scholarship aid from governments and/or the school.

Programs & Majors

The Massachusetts Institute of Technology offers dozens of majors, including popular options such as computer science, mechanical engineering, mathematics, and physics. The university also offers unique majors such as aeronautics and astronautics, bioengineering and biomedical engineering, econometrics and quantitative economics, electrical engineering, and biology.

In addition to a strong academic foundation in their chosen field of study, MIT students have access to research opportunities, internships, and study abroad programs that enhance their education and prepare them for success after graduation. The Massachusetts Institute of Technology’s commitment to innovation and excellence makes it a top choice for those looking to pursue a degree in STEM fields or any other discipline.

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Computer Science
Mechanical Engineering
Mathematics, General
Physics, General
Aerospace, Aeronautical, and Astronautical/Space Engineering, General
Bioengineering and Biomedical Engineering
Econometrics and Quantitative Economics
Electrical and Electronics Engineering
Biology/Biological Sciences, General
Mathematics and Computer Science