Tuition for the MIT Sloan PhD Program in 2010-11 is $38,940. The additional costs of housing, food, books, and personal expenses are estimated to be another $28,320 (calculated for the nine-month academic year). However, these expenses may vary significantly depending on lifestyle and other individual considerations.
Students admitted into the program are typically offered financial aid for a period of four years as long as the student remains in good academic standing. This funding consists of full tuition for the academic year plus a research and teaching assistantship of approximately $28,499 (before taxes). A minimum summer stipend of $3,000 is also granted for four summers. Medical insurance is provided for each graduate student enrolled in the program.
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.