Financing Your MBA

MIT Sloan matriculates the most promising MBA candidates regardless of financial circumstances. After acceptance, each incoming student begins the three-tiered financial aid process:

  1. Establish eligibility for federal and private loans in collaboration with MIT Student Financial Services.
  2. Automatically considered for fellowships and scholarships awarded by MIT Sloan and other MIT departments or related organizations. For incoming students, these awards are granted after a review process that is independent of your acceptance. Except for the Legatum Fellowship and the MIT Public Service Center Fellowships, which are awarded through the respective organization, admitted applicants are considered for as many as nine different fellowships for which they are eligible.
  3. Apply for additional sources of financial assistance administered by external foundations and organizations.

After the first semester Core, students are eligible to serve as teaching or research assistants, opportunities that defray the cost of education while providing a unique learning experience.

Tuition and Expenses

Tuition and expenses for a single student for the academic year 2014-2015 are shown below. This student budget varies depending on family size and can be adjusted by MIT Student Financial Services upon request. Additional living costs may vary widely, depending on your lifestyle, the size of your household, and other personal details. Most of our graduate students make one tuition payment before each term. Students also can choose the MIT Monthly Payment Plan, which allows them to pay tuition in four installments during the term.

Academic Year 2014-2015

Tuition

$63,750

Books and Supplies*

$2,200

Computer* (1st Year Only)

$2,000

Food*

$4,894

Personal (Incl. Medical Insurance)*

$5,580

Housing*

$14,850

Transportation*

$2,740

TOTAL

$96,014

We anticipate that you may require financial assistance. In partnership with MIT’s Student Financial Services, we 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.

Loans

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 to MIT Student Financial Services.

Teaching and Research Assistantships

Teaching and/or research assistantships are available each academic year and are usually filled, selectively by MBA and PhD students. These competitive opportunities provide MBA students with exposure to some of the School's pioneering faculty members, as they develop cutting-edge research and breakthrough industry innovations.

Fellowships and Scholarships

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, which have their own seperate application process.

Leaders for Global Operations Fellowship

All students accepted to the joint MBA/Leaders for Global Operations (LGO) program receive generous fellowships funded by MIT industry partners. See the LGO website for more information.

$100K WINNERS: C-CRETE TECHNOLOGIES Reducing the environmental impact of concrete

“One of the reasons I came to Sloan was because I wanted to be at a top MBA institution worldwide. But I also wanted access to working with the latest innovations and the highest technology that was coming out of the MIT labs.”

Natanel Barookhian
MBA
COURAGE AND STRENGTH Supporting a student with breast cancer
"The Sloan community really rallied around me in a way that I totally didn’t anticipate. … It was just really nice to be a part of a community that I was totally comfortable in and felt completely supported by."
Kyle Maner
MBA
LEADERS FOR GLOBAL OPERATIONS Connecting management and technology
“We are preparing leaders to run the world’s operations companies. And those leaders are at the cutting edge of both management and technology.”
Don Rosenfield
senior lecturer and director of the Leaders for Global Operations
INDIA LAB: EDUCATIONAL ENHANCEMENT Creating employable workers to boost the economy

“I knew about American business, but not enough about what’s really become a global economy. … You can read about it all you want, but there’s no substitute for being there and seeing the context and seeing how completely different these [other countries] are.”

Ted Chan
MBA
SLOAN FELLOW Getting serious about going global
"I had interviews and visited other business schools, and it’s nothing like the environment that we have here at MIT Sloan."
Abner Oliviera
SF
G-LAB, RAS RESORT, INDIA Marketing in Mumbai
"The network of alumni was helpful because our team had a lot of experience in consulting, but not in private equity."
Gerardo Guzman
MBA
G-LAB: MERCY CORPS, INDONESIA Using business principles to address malnutrition

“The conditions in the neighborhoods we were visiting were different than what we realized before getting there. Beyond that, what was surprising was that there weren’t surprises!”

Libby Putman
MBA
SLOAN FELLOW Merging disciplines for climate change
"I needed to get a better understanding of the interaction of management and technology. And I think MIT is an obvious place for that. There’s probably no better place in the world [for learning] how technology and management interact."
Pascal Marmier
SF
SWITZER FELLOWSHIP WINNER JASON JAY Focusing on environmental research and leadership

 “I love being in a place that is such a nexus of people and ideas — people coming to learn something new and to define themselves. Being a part of that process is a real honor and a real gift.”

Jason Jay
Lecturer, Sustainability, MIT Sloan
G-LAB: INTERGRUPO, COLOMBIA Growing a business by cultivating relationships

"The relationships that we forged helped us to turn out a better project. We were able to test our hypotheses with the people that we spoke with every single day. And really, I think the friendships that you develop really propel the work that you’re doing."

Ramy Hakim
MBA
G-LAB: AIDS IN TANZANIA Striving for economic empowerment

“Because of the diversity of our backgrounds, when we hit the ground in Tanzania it almost was a natural play where different people assume different roles.”

Krishna Venugopalan
SF
INSTITUTE FOR WORK AND EMPLOYMENT RESEARCH Adapting to the changing nature of work

“We’re very interdisciplinary. Among the faculty in the group are an economist, a political scientist, a sociologist, and an industrial relations specialist. We’ve always made a big effort to be open to a variety of perspectives, but also to go beyond being open to them, to want to bring them in, because it makes for a richer environment.”

Thomas Kochan
Co-director, IWER
S-LAB: JAKARTA WATERSHED Combating a clean water crisis

“You could talk about watershed management and conservation of energy all you want. But until you put numbers to it and financial analysis to it, you’re not going to get much done. I came to business school to speak that language, speak with people in terms of numbers, financial numbers so that I can get projects done.”

Ian Lavery
MBA
G-LAB: PRIVATE HEALTH CARE IN AFRICA Defining growth at a for-profit clinic

“At MIT Sloan you have a lot of opportunities to explore entrepreneurship. Especially in a place like Kampala where you have a lot of development, entrepreneurship can be very exciting.”

Anne Reilly
MBA
G-LAB: WARMBATHS HOSPITAL, SOUTH AFRICA Improving staffing at a maternity ward

“The assistant to the CEO was like our host mom while we were there. She arranged our housing for us, she took us out to her friend’s game farm, and we got driven around in 4x4s. She was just wonderful to meet, and we developed a personal as well as professional relationship with her.”

Kelsey McCarty
MBA
G-LAB, KUALA LUMPUR Assessing the future of the Smart Card
"You have to manage what you can deliver for the company and what the company is expecting. The bottom line is that the CEOs of those companies want results. Even though we have to work five months in a row with the project, we have to deliver. This experience is more pragmatic than academic. It's a good opportunity to match those two worlds."
Camilo Syllos
MBA
MIT LEADERSHIP CENTER Changing views of leadership

“Our mission, along with the mission of MIT Sloan, is to both develop leaders who make a difference in the world, and also to make a contribution to thinking about the topic of leadership.”

Deborah Ancona
Faculty Director, MIT Leadership Center
G-LAB: NAM MEE BOOKS, THAILAND Helping a book publisher mature

“It was really rewarding that they wanted to know what we thought. We left there being fairly certain that they will do some of the things that we suggested.”

Lia Cavalcante
MBA
INDIA LAB: BANGALORE Working toward market expansion

“These companies are really excited to work with MIT students.They reach out to the community to set up these projects and are great to work with. They give us access to all their resources and are very open to us.”

Katie Baron
MBA
RETAIL AND CONSUMER GOODS Luxury beauty and the multicultural consumer
"The goal of the Retail and Consumer Goods Club is to provide networking opportunities for students at MIT Sloan, and to educate students about different functions within the retail and CPG space. We bring in executive-level speakers to educate our community on this topic."
Nga Phan
MBA, co-president of Retail and Consumer Goods Club
CENTER FOR INFORMATION SYSTEMS RESEARCH Bringing people and machines together

“The concept behind enterprise architecture is that you have all these machines, you have all these business processes, you have all these people doing things, how do you make sure they all come together and achieve business objectives that make you more competitive.”

Jeanne W. Ross
Director and Principal Research Scientist, CISR

“LGO students get the advantage of a small cohort that they take many courses with. But they’re also part of the larger community. They’re part of MIT, of MIT Sloan, of the MBA program.”

- Donald Rosenfield
Senior Lecturer and Director of the Leaders for Global Operations (LGO) program