"MIT Sloan is a place where you don't have to be afraid to ask questions, there is always help. But, more importantly, MIT Sloan is a place where no one's own self-importance gets in the way of them asking a question that needs to be asked. And, in the end, it is those that are willing to ask and willing to learn that will end up with the lives worth living."
MIT Sloan matriculates the most promising MBA candidates regardless of financial circumstances. After acceptance, each incoming student begins the three-tiered financial aid process:
- Establish eligibility for federal and private loans in collaboration with MIT Student Financial Services.
- 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 Fellows, which are awarded through the respective organization, admitted applicants are considered for as many as nine different fellowships for which they are eligible.
- Apply for additional sources of financial assistance administered by external foundations and organizations.
Tuition and Expenses
Tuition and expenses for a single student for the academic year 2013-2014 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 2013-2014|
|Books and Supplies*||$2,107|
|Computer* (1st Year Only)||$2,000|
|Personal (Incl. medical insurance)*||$5,407|
We anticipate that you may require financial assistance, and 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 to MIT Student Financial Services.
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.
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.
“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.”
“We are very much an action-learning environment. The way to learn leadership is not only through reading cases, not only through learning theory — in fact we don’t want people to regurgitate the theory. We want people to take theory and to live it, use it.”
“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.”
“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.”
“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.”
“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.”
"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."
“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.”
“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!”
“I can honestly say that when I was planning on coming to business school I never thought that witnessing the birth of a child would be included in the education. It was definitely an experience.”
“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.”
“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.”
“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.”
“[The India Lab] program is one of the reasons I came to Sloan. ... The hands-on learning that MIT offers was a huge differentiator.”
“To overcome the economic challenges we face, we need a new generation of financial industry leaders, policymakers, and regulators who have a deep understanding of how technology drives the financial system. At MIT Sloan, I'm surrounded by an exceptionally smart group of colleagues committed to training this new generation, and by talented, passionate students eager to make a difference.”