MIT Sloan matriculates the most promising MBA candidates regardless of financial circumstances. After acceptance, each incoming student begins the three-pronged financial aid process:
After the first semester core, students are eligible to serve as teaching or research assistants, opportunities which defray the cost of education while providing a unique learning opportunity. Though an MBA degree from MIT Sloan more than pays for itself with the incredible job opportunities it affords our graduates, we understand that your main concern right now is how to cover your tuition and living expenses while you're in school.
Tuition and expenses for a single student for the academic year 2011-2012 are broken out below. This student budget varies depending on family size and can be adjusted by MIT Student Financial Services upon request. Costs vary widely, depending on your lifestyle, the size of your household, and other personal choices. Most of our graduate students make one tuition payment before each term. Students can also choose the MIT Monthly Payment Plan, which allows them to pay tuition in four installments during the term.
| Academic Year 2011 | |
|---|---|
| Tuition | $52,900 |
| Books and Supplies* | $1,926 |
| Computer* | $2,000 |
| Food* | $4,500 |
| Personal (incl. medical insurance)* | $4,950 |
| Housing* | $13,860 |
| Transportation* | $2,496 |
| TOTAL | $ 82,632 |
We anticipate that you may require financial assistance, and we, in partnership with MIT’s Student Financial Services, will guide you through the financial aid process. Most MBA students rely on loans to help them finance their graduate education, and some qualify for additional need- and merit-based awards. You can learn more about potential sources of financial aid below.
Many MBA students take out loans to help pay for their education. U.S. citizens and permanent residents should file the Free Application for Federal Student Aid (FAFSA) as soon as they file their income tax returns. Upon acceptance in the program, all students intending to apply for loans, including international students, need to submit the MIT Graduate Loan Application form (PDF) to MIT Student Financial Services.
Approximately 150 teaching and/or research assistantships are available each academic year and are usually filled by MBA and Ph.D. students. These outstanding opportunities provide MBA students with exposure to the School's best faculty as they develop cutting-edge research and breakthrough industry innovations.
MIT Sloan offers several fellowships and scholarships, most of which are awarded based on a combination of merit and need. Several additional sources of aid exist for international students and naturalized U.S. citizens.
All students accepted to the joint MBA/Leaders for Global Operations (LGO) program receive generous fellowships funded by industry partners. See the LGO Web site for more information.
MIT’s Office of the Dean for Graduate Education Web site lists additional financial resources for graduate students.
© 2012 MIT SLOAN SCHOOL OF MANAGEMENT
