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You finally finished your college tours and applications. Now you are narrowing down your choices. If you are considering MIT as one of your top choices, it is important to know about funding opportunities available to incoming students. In addition to incoming freshman students, MIT also offers scholarships to international students, graduate students, and continuing students. The hardest part of getting funding at MIT is actually gaining admission to the university. Once students intend to enroll, the university makes a commitment to the student to cover their full demonstrated financial need, which is based on their FAFSA. Thus, it takes into account their current family size, their parent’s income if the student is a dependent, and other financial considerations which vary by individual student.
MIT awards scholarships to incoming undergraduate students based on financial need. In order to be considered for these awards, students must complete the FAFSA as well as a CSS Profile, which can be located on this website: https://sfs.mit.edu/undergraduate-financial-aid/aid-info#1. MIT’s website indicates that it will meet the total demonstrated financial need of all incoming freshmen student based on their individual financial situation. While their website does not list individual scholarships, it maintains that scholarships are awarded based on need and that the funds come from gifts made to MIT, endowed funds, and general funds. Students who are awarded one of these scholarships may be asked to correspond with the donor as many donors like to know how their money is being used. This may entail writing a thank you letter or updating donors about your MIT experience.
MIT Federal Grants are administered through the university based on money received from the government. The four types of grants that students may be eligible for include: the Pell Grant, Federal Supplemental Educational Opportunity Grant, Iraq and Afghanistan Service Grants, and the Teacher education Assistance for College and Higher Education. These grants require no separate application and all students are considered for these grants when they apply to the university.
Since MIT only awards scholarships based on financial need, no merit based scholarships are listed on their websites. In addition to the above federal grants, MIT suggests checking with your state government to see whether you meet criteria for any of their scholarships. Furthermore, they provide a links to apply for outside scholarships.
Graduate students at MIT are also funded based on need. Students are required to complete the FAFSA and part of their financial award may include a teaching assistantship or other type of graduate assistantship. In addition, some fellowships are provided to qualified students. Research assistantships are also available and most graduate students receive funding in the form of tuition remission, a stipend, and health insurance. Many of these awards are given by academic departments and the amounts of the awards vary by department and funds available. Additional opportunities include traineeships, grants, tutoring, and other experiences that will aid students in their professional development while providing a service to the department. More information about graduate financial aid can be found at: http://sfs.mit.edu/graduate-financial-aid.
Author: Jeff Gitlen