MIT’s undergraduate financial aid for 2023-24 will increase to an estimated $164.1 million. The increase will offset a 3.75 percent rise in tuition and changes in housing, dining, and other estimated costs. The estimated average MIT scholarship for students receiving financial aid next year is $61,247.
MIT's commitment to undergraduate financial aid will remain robust for 2022–23, increasing from last year’s budget of $155.2 million to an estimated $161.8 million and offsetting a 3.75 percent rise in tuition and changes in housing, dining, and other costs.