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.
“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.”
“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.”
“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!”
“For 35 years, we’ve been studying how companies get value from information. … We try to help organizations take a more holistic view of what they are trying to do.”
“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.”
“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.”
“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.”
"After we gave our recommendations, the great part was that the very next day the CEO was in the boardroom implementing them with his top vice presidents."
“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.”
“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.”
“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.”
“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.”
“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’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.”
“In Chinese culture, we have this saying, ‘drink the water and contemplate the source.’ I think very frequently of … when my intellectual mind was completely turned on by the groundbreaking work accomplished by Merton, Black, and Scholes at MIT Sloan.”