Master of Finance
Tuition and Financial Aid
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 2020-2021
**Tuition & Fees: $111,827
Estimated Personal (including medical insurance) Living Expenses: $69,356
Tuition & Fees: $80,718
Estimated Personal (including medical insurance) and Living Expenses: $49,801
**This figure includes an estimated MIT activity fee of $184 for the fall term of your second year. This fee amount will not be final until spring 2021.
**Figures for living expenses are for the 2019-20 academic year. 2020-21 figures should be slightly higher, but similar.
*Please see the Academic Calendar for key dates
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.
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.
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 promise. Further consideration will be given to candidates who enhance the geographic diversity of the MFin class.
Additional scholarship and fellowship opportunities are below:
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.
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.
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 websitefor more information and to apply.
Kennedy Memorial Trust Scholarship
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:
- British citizens at the time of application
- Ordinarily resident in the UK
- Wholly or mainly educated in the UK
Kuwait MFin Fellowship
The Kuwait MFin Fellowship was established by a private donor and provides partial tuition for MFin students from Kuwait. To be considered for this scholarship, you must demonstrate financial need. For more information, please contact the MIT Sloan Admissions Office.
Fundación Gondra Barandiarán
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 scholarship to FGB within 20 days of the admission decision. Find more details at http://www.gondrabarandiaran.org
The Alexis & Anne-Marie Habib Foundation
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. Find more details at: https://habibfoundation.org/
Life (Lebanese International Finance Executives) Scholarship Programme
A scholarship available to Lebanese nationalities who meet additional specific criteria including demonstration of passion about 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. Find more details at: https://www.lifelebanon.com/nurture/scholarships.html