Plan your finances.
As you budget for your year in the MIT Sloan Fellows Program, you must consider a number of expenses in addition to tuition. Here is what you should expect to spend during the class year beginning June 2012:
| Tuition | $125,500 for class year beginning June 2012 |
| Computer, books, supplies | $7,500 (estimated for class year) |
| Living expenses (annual) | $35,000 for single person (estimated for class year) |
| $45,000 for two people | |
| $55,000 for a family of four | |
| MIT health insurance (annual)* | $1,740 for student |
| $2,424 for student and child/children | |
| $3,744 for student and partner | |
| $4,428 for student, partner, and child/children |
*Important note about health insurance. MIT requires every student to have health insurance, so you must purchase the Institute’s insurance plan unless your existing health insurance meets MIT’s requirements for a waiver.
Financial aid guidelines
Upon acceptance into the program, all students intending to apply for loans, including international students, must submit the MIT Graduate Loan Application form (PDF) to MIT Student Financial Services.
United States citizens and permanent residents should file the Free Application for Federal Student Aid (FAFSA) as soon as they file their income tax returns.
Funding Options
- Find out more about the Student Loan Program.
- MIT’s Office of the Dean for Graduate Education lists sources of aid for both international students and naturalized U.S. citizens.
- Dean's Fellowships: A limited number of Dean's Fellowships are available to Sloan Fellows and are awarded to admitted candidates of all citizenships and academic backgrounds. All admitted candidates are considered for these fellowships. Fellowships are awarded to individuals who enhance the diversity of the MIT Sloan Fellows class.
- Fulbright grants: Fulbright grants provide for the international exchange of scholars in more than 140 countries. Learn more about this program and how to apply.
- The Legatum Fellowship: The Legatum Center for Development and Entrepreneurship is pleased to offer financial assistance to select entrepreneurial graduate students at MIT. Their application process is separate from Sloan Fellows Admissions. The fellowship is open to all MIT graduate students. You must demonstrate a commitment to starting a business in a low-income country after graduation. Visit the Legatum Center site for information on how to apply.
- The Nippon Foundation’s International Fellowship: Provides Japanese nationals working in the public or private sectors opportunities to further studies in overseas educational institutions. Learn more about this program and how to apply.
- Don’t forget to check into possible scholarships and other funding options offered by the government of your native country.
Working so intensely with classmates from around the world day in and day out meant that, by year’s end, their experiences became my experiences. Today, as I leave the program, my perspective encompasses a wide swath of countries, cultures, and industries. I could not have developed that expanded view any other way.Amy Gowder Graban, SF ’10
United States
Director, Lockheed Martin Aeronautics Company
