Financing Your Education
Tuition and Expenses
This student budget represents the standard Cost of Attendance set by Student Financial Services, and it can vary only slightly depending on family size. This figure represents the limit on all forms of financial aid, including scholarships, fellowships, and student loans. 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 (August 1 for Fall and January 1 for spring). Students also can choose the MIT monthly payment plan, which allows them to pay tuition in ten installments over the course of the year. Learn more about your payment options here.
*The tuition figure above is set for the 2020–2021 academic year, but all living expenses are taken from 2019–2020. There may be a small increase in some or all of those figures.
**While the student is responsible for purchasing textbooks, all required course packs for the first-semester core classes are included as part of the tuition cost.
Financing Your MBA
MIT Sloan matriculates the most promising MBA candidates regardless of financial circumstances. After acceptance, each incoming student begins the three-tiered financial aid process:
1. Incoming students are 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. Admitted applicants may be eligible for and considered for a variety of different fellowships that require separate applications.
2. Students may also apply for additional sources of financial assistance administered by external foundations and organizations. The Office of Graduate Education offers some resources to help find these organizations are located here. Once admitted, you may also contact the Student Funding office at Sloan for a list of these external awards specific to business school students.
3. Students establish eligibility for federal and private loans in collaboration with MIT Student Financial Services by submitting the Graduate Information Finance Form (all students) and the FAFSA (domestic students only). If you are interested in private loans, an application with the lender of your choice will also be required. Click here for additional info.
Please note, the total Cost of Attendance is set by MIT Student Financial Services on an annual basis. This figure acts as a limit on the total amount of aid you are eligible to receive (including fellowships, Teaching Assistantships, scholarships, etc, as well as federal or private student loans). If you are planning on paying for your time at MIT with aid, including loans, the difference between the “total” and the “tuition and fees” is the amount you will have available to fund all other living expenses.
In partnership with MIT’s Student Financial Services, we will guide you through the financial aid and billing process. Most MBA students rely on loans to help them finance their graduate education. Please feel free to contact the Sloan Student Funding Office at Studentfunding.firstname.lastname@example.org with any questions or concerns.
Leaders for Global Operations Fellowship
Students accepted to the joint MBA/Leaders for Global Operations (LGO) program may receive generous fellowships funded by MIT industry partners. See the LGO website for more information.