Tuition

Tuition for the MIT Sloan PhD Program in 2006-2007 is $33,400. The additional costs of housing, food, medical insurance, books, and personal expenses are estimated to be another $23,500 (calculated for the nine-month academic year). However, these expenses may vary significantly depending on lifestyle and other individual considerations.

Financial Aid

Students admitted into the program are typically offered financial aid for a period of four nine-month academic years (no summer months included). Financial aid is guaranteed for four years so long as the doctoral student remains in good standing. This funding consists of full tuition for the academic year plus a stipend of approximately $20,845 (before taxes). Medical insurance is also provided for each graduate student enrolled in the program. The funding is composed of a fellowship combined with a research or teaching assistantship, which encompasses graduated commitments of up to 15 hours per week; the precise distribution of each source is determined by the faculty committee for each research concentration. In addition, although financial support for June, July, and August of each year is not guaranteed, it is often available through individual faculty.

Students who are U.S. citizens or permanent residents may participate in the federally insured Guaranteed Student Loan Program (GSL), available through banks and other lending institutions in the state where the student is a legal resident. MIT administers a limited loan program as a last resort after all other sources of financial aid have been exhausted. Students who are not U.S. citizens or who do not have permanent resident status are not eligible for either state or federally guaranteed loans or for MIT loans during their first year of residence.

More information about loans is available from Student Financial Services. See SFS Financial Aid for details about all types of financial aid.