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MIT Sloan MBA Cost Summary
USINFO | 2013-11-14 11:33
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. Establish eligibility for federal and private loans in collaboration with MIT Student Financial Services.
2. 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. Except for the Legatum Fellowship and the MIT Public Service Center Fellowships, which are awarded through the respective organization, admitted applicants are considered for as many as nine different fellowships for which they are eligible.
3. Apply for additional sources of financial assistance administered by external foundations and organizations.
After the first semester Core, students are eligible to serve as teaching or research assistants, opportunities that defray the cost of education while providing a unique learning experience.
Tuition and Expenses
Tuition and expenses for a single student for the academic year 2013-2014 are shown below. This student budget varies depending on family size and can be adjusted by MIT Student Financial Services upon request. 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. Students also can choose the MIT Monthly Payment Plan, which allows them to pay tuition in four installments during the term.
| Academic Year 2013-2014 | |
| Tuition | $61,440 |
| Books and Supplies* | $2,107 |
| Computer* (1st Year Only) | $2,000 |
| Food* | $4,774 |
| Personal (Incl. Medical Insurance)* | $5,407 |
| Housing* | $14,363 |
| Transportation* | $2,736 |
| TOTAL | $92,827 |
We anticipate that you may require financial assistance. In partnership with MIT’s Student Financial Services, we will guide you through the financial aid process. Most MBA students rely on loans to help them finance their graduate education, and some qualify for additional need- and merit-based awards. You can learn more about potential sources of financial aid below.
Loans
Many MBA students take out loans to help pay for their education. U.S. citizens and permanent residents should file the Free Application for Federal Student Aid (FAFSA) as soon as they file their income tax returns. Upon acceptance in the program, all students intending to apply for loans, including international students, need to submit the MIT Graduate Loan Application form to MIT Student Financial Services.
Teaching and Research Assistantships
Teaching and/or research assistantships are available each academic year and are usually filled, selectively by MBA and PhD students. These competitive opportunities provide MBA students with exposure to some of the School's pioneering faculty members, as they develop cutting-edge research and breakthrough industry innovations.
Fellowships and Scholarships
MIT Sloan offers several fellowships and scholarships, most of which are awarded based on a combination of merit and need. Several additional sources of aid exist for international students and naturalized U.S. citizens.
Leaders for Global Operations Fellowship
All students accepted to the joint MBA/Leaders for Global Operations (LGO) program receive generous fellowships funded by MIT industry partners. See the LGO website for more information.
