Master of Finance
Financing Your Education
MFin students are required to enroll in the MFin summer term as well as three regular terms of full-time graduate study.
MIT students who have taken both 15.401 and 15.402 prior to enrollment in the MFin program may be permitted to waive the summer term and will not be required to pay summer tuition.* Please see the Academic Calendar for key dates.
Academic Year 2023-2024
| 12-Month | 18-Month (+Fall 2024) | |
|---|---|---|
| Tuition & fees | $87,600 | $120,400 |
| Student life fees | $406 | $609 |
| Health Insurance* | $3,237 | $4,586 |
| Housing | $17,865 | $23,820 |
| Food | $7,095 | $9,460 |
| Books & supplies** | $1,050 | $1,400 |
| Transportation | $2,571 | $3,428 |
| Personal | $7,065 | $9,420 |
| Computer (one time cost) | $2,000 | $2,000 |
| Total | $128,889 | $175,123 |
* Cost of Health Insurance (unless waived): $3,237 ($1,349 fall/$1,888 spring).
** While you are responsible for purchasing textbooks, all required course packs are included in the tuition cost.
MIT Sloan matriculates the most promising MFin candidates regardless of financial circumstances.
Please see the Academic Calendar for key dates.
The $3,000 deposit payment will be applied to the 2023 Fall Term Tuition.
Financing Your Education
Support typically includes personal savings, loans, fellowship/scholarship awards, government or employer sponsorship, or some combination of these. For information about financial aid options, visit MIT Student Financial Services.
Assistantships
MIT Sloan offers a number of MFin students teaching and research assistantships that vary in workload and compensation. While helping students cover their expenses, these competitive positions offer outstanding exposure to the school's educational research programs. Responsibilities may include working one-on-one with students, assisting in research, and grading assignments and examinations.
Available Fellowships
A limited number of fellowships are available 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 with outstanding academic records, personal achievements, and professional promises. Further consideration will be given to candidates who enhance the geographic diversity of the MFin class.
Additional scholarship and fellowship opportunities
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The Aker Scholarship is a grant awarded to Norwegian students pursuing the MFin [or MBA, MBAn] at MIT Sloan. MIT is one of the selected few universities to receive this scholarship. Funding is available to Norwegian students and those with strong ties to Norway who are accepted into post-graduate degree programs. The scholarship will supplement any other funding to cover the full cost of study and living expenses. For more information and to apply, visit the Aker Scholarship website.
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Instituto Ling’s fellowships are open to all Brazilian students who have been accepted to top schools. Required documents include the candidate's CV, GMAT results, admission letter from the university, and the application, including essays. The candidate must provide information on his/her family’s financial condition in order to prove financial need. The candidate’s leadership skills and affinity to Instituto Ling’s values are also evaluated.
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The Legatum Center for Development and Entrepreneurship offers financial assistance to select entrepreneurial graduate students at MIT. Their application process is separate from MFin Admissions. The fellowship is open to all MIT graduate students who demonstrate a commitment to starting a business in a low-income country after graduation. Please visit the Legatum Center website for more information and to apply.
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The Kennedy Memorial Trust provides scholarships to British post-graduates to pursue their studies at MIT and/or Harvard. The Kennedy Scholarship is an academic award used to fund a wide variety of academic programs. Scholars use the opportunity to deepen their expertise in their field. Those applying for awards must be all of the following:
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British citizens at the time of application
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Ordinarily resident in the UK
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Wholly or mainly educated in the UK
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Awarded to two Spanish nationals who obtained their engineering degrees from a Spanish university and will join the MBA, Master of Finance, and Master of Business Analytics. The scholarship covers full tuition for two years (12 months for MFIN and MBAn programs). To be eligible, MBA candidates must be admitted in Round 1 or Round 2; MBA, MFin, and MBAn candidates must submit their application for a scholarship to FGB within 20 days of the admission decision. Learn more.
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The Alexis & Anne-Marie Habib Foundation seeks to identify bright, academically talented, disadvantaged high school and university students in Lebanon and to provide them with long-term financial support so that they can maximize their educational potential. One of their primary objectives is to provide scholarships for university and post-graduate tuition and expenses for bright disadvantaged children in Lebanon, to pursue education at institutions both inside and outside Lebanon.
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A scholarship is available to Lebanese nationals who meet additional specific criteria including a demonstration of passion for finance and motivation to continue to study and work in the field of finance. Applicants must demonstrate financial need which will be assessed by LIFE. Applicants must achieve and maintain academic excellence (at or above the 80th percentile) in high school and university studies. Once the scholarship is granted, LIFE assigns a mentor to each scholarship recipient from among the ranks of their global membership not only to mentor but also to act as a resource from among the ranks of the global membership not only to mentor but also act as a source of support and assistance in applying for internships and/or permanent employment. Learn more.
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The fellowships listed below, many of which have been established through generous gifts to MIT Sloan from alumni and friends of the school, are available to admitted students. Students will be considered for these fellowship awards automatically, dependent upon their eligibility, and do not need to submit an additional application. Students are typically informed if they have received a fellowship upon notification of admittance to the school. This applies to U.S. citizens, permanent residents, and international students.
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MIT Master of Finance Fellowship
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