The Massachusetts Institute of Technology, MIT, is among the country's most recognized universities, particularly in technological, scientific, and engineering fields. Like many private universities in the United States, however, the cost of attending MIT is exceptionally high, a fact that has prompted the university to develop generous scholarships for MIT students and financial aid programs for students in need. Upon application to MIT, students are automatically considered for many financial aid programs; however, interested students should follow a few additional steps to maximize their award amount and reduce the expense of attending MIT.
How to Apply
Apply for MIT grants and scholarships by filling out a financial aid request along with your college application. Include all personal and family financial information on the form and attach any required documents, including tax returns. Remember that financial need does not impact the university's admissions decisions at MIT, so fill out all information wholly and truthfully to receive an aid package that suits your financial situation. As an MIT student, you will also need to resubmit financial information on a yearly basis to renew your aid package, which is usually a mix of grant, loan, and work-study assistance.
How MIT Scholarships Are Awarded
MIT scholarships are calculated by subtracting your family's expected contribution and your financial ability to pay from the total price of tuition, room and board. It also includes both university financial aid funds and federal funds from programs such as Pell Grants and the Federal Supplemental Educational Opportunity Award.
State Level Scholarships
Many states offer scholarship programs for students that live in that state. There are also programs that allow applicants to study in other states as well. Submit your Free Application for Federal Student Aid (FAFSA) form to the relevant state financial aid offices for consideration along with any specific documents your state may require. If you are already enrolled at MIT, and your home state does not offer scholarship support for study at MIT, you may be able to become a resident in the state of Massachusetts and apply for state assistance locally.
Outside Scholarships That Are Available
You can also apply for independent or private scholarships, including funds from community organizations, labor unions, non-profits, minority advocacy groups, and artistic foundations or corporations. Inquire about these opportunities in school guidance departments, community centers, your workplace or through organization websites, and complete the necessary application process to be considered. Focus on funding sources specialized in technical and engineering fields that are more likely to fund your MIT education, such as corporations specialized in engineering or foundations for technological advancement and education.
Special Veteran Scholarships
Apply at your local Veteran's Affairs (VA) office if you are an armed forces veteran or family member of a veteran eligible for financial assistance for the VA. MIT has a permanent staff member that will guide you through academic veteran benefit procedures and help you complete form 22-1999 once you are enrolled.
Need to Know
Remember that any outside assistance, including state or private funds, will change your eligibility for both MIT and federal funds, so be sure to keep the MIT financial aid office informed of any new assistance you receive. As a general rule, cast as wide a net as possible to fund your education. You'll be surprised by the organizations that offer college scholarships, and every scholarship you get will decrease the financial burden on your family and your future student debt. Providing inaccurate information to state and federal student aid organizations is a serious offense. Be sure that all of the information you are providing is true and accurate to the best of your knowledge.