The Massachusetts Institute of Technology is a private research university in Cambridge, Massachusetts. Established in 1861, it has significantly contributed to the development of modern science and technology in the U.S. MIT boasts a global community that is strengthened by attracting talents from around the globe through innovation, research, and teaching.
The university aspires to serve its nation and the world by educating individuals in technology, science, and other academic areas and contributing to advancing knowledge. Moreover, the institution offers a comprehensive range of undergraduate and graduate programs. Students here receive a curriculum that combines rigorous academia and innovation, supported by the intellectual stimulation of its diverse community, which welcomes talented individuals regardless of where they come from.
If MIT has piqued your interest and you want to know about your expenses at this school, check out the rest of the article.
Study Costs at Massachusetts Institute of Technology
As mentioned, international students studying at the Massachusetts Institute of Technology are expected to deal with several other expenses besides their tuition fees. As an international student, you must consider all additional costs in your financial plan throughout your study period. For your convenience, we have penned a brief list of the varying expenses an international student may face at MIT. This information will give you an overall idea of your study and living costs at this top university.
Application Costs
Before you enroll at the Massachusetts Institute of Technology, you will first have to apply. It would also require an application fee, which you must look out for. The application fee for undergraduate program admissions at MIT is $75 for all students, including international students.
The application fee for international students for all its graduate programs is also $75, except for programs at the MIT Sloan School of Management, where fees range from $95 to $250. The school also offers limited application fee waivers, so remember to check those out.
Tuition Costs
Before enrolling in any program, you must familiarize yourself with the tuition fee of your desired program and the payment plans offered by the university. MIT gives a fixed annual price for all its undergraduate programs. For your convenience, we have a summarized version of the cost of tuition for undergraduate, master’s, and Ph.D. programs at the institute.
Bachelor’s Tuition Costs
The standard tuition cost for undergraduate programs at MIT is $61,990 annually. According to the university, the total cost for each student is more than double the expected fee, as it provides its students with cutting-edge research facilities and faculty. In addition, the institution’s tuition fees also cover basic health insurance, which ensures that students receive medical care, mental health support, and specialist care without paying extra.
Master’s Tuition Costs
The Massachusetts Institute of Technology also offers a great list of master’s programs in several fields. The standard annual tuition fee for master’s students is also around $61,990 from September to May, including the cost of a student medical plan at the university. However, the MIT Sloan School of Management and some programs, such as the Supply Chain Management: Master’s Program in Logistics, have different tuition fees for their master’s programs, ranging from $34,375 to $208,300.
Ph.D. Tuition Costs
Most Ph.D. programs at MIT follow the standard graduate tuition rates. The entire regular tuition for doctoral programs at MIT is $30,995. Academic expenses for international students play a crucial role in your study abroad experience. You must manage these expenses to the best of your abilities so that they do not hinder your education. Preparing a financial plan would greatly help with managing your costs.
Other Academic Costs at MIT
Apart from your academic expenses, there are several other costs you would have to be aware of as an international student at MIT. Some of the more essential costs are mentioned below.
Books and Miscellaneous Expenses
The cost of books and most miscellaneous expenses is subjective to each individual. The costs for books, course materials, supplies, and equipment at MIT are around $910 for undergraduate students and around $1,089 for graduate students. However, it is possible to cut down on some of these costs. For instance, digital textbooks would cost far less than printed textbooks.
Accommodation and Transportation
Accommodation and transportation are also essential expenses that students need to be mindful of. MIT requires all first-year undergraduate students to live on campus, and its cost is, at most, $13,060 per year, while housing costs for graduate students are around $21,600 annually.
On the other hand, transportation costs may vary depending on how far you live from the campus. Undergraduate first-year students would have significantly lower transportation costs as they reside on campus. Graduate students, on the other hand, may spend around $2,664 on transportation.
Living Expenses
Overall, an international student’s living expenses would heavily depend on their lifestyle and spending habits. Living expenditures include entertainment and recreational activity fees, housing, food, books, transportation, and personal expenses. Your total personal expenses as an undergraduate student at MIT are estimated at around $2,374 per month.
Meanwhile, living expenses for a graduate student are estimated at around $9,744 monthly. However, it is advised that you budget your monthly payments to avoid overspending or running out of money. You must also prioritize your needs and wants regarding additional costs.
Pursuing an education abroad as an international student at the Massachusetts Institute of Technology certainly comes with considerable financial obligations, considering the quality and standard of the education you will receive. In addition, you would also have the opportunity to explore the United States in all its glory, a chance you would surely cherish in years to come. Dealing with finances will not be easy, but it will be worth it, so don’t hold back and go for it!
We hope this article about the cost of studying at MIT was helpful. You can check out the Study in the USA Page and our Open Courses for more information about other universities and the available programs in the United States!
