With the cost of attending MIT surpassing the $50,000 mark in 2008-2009, it is no wonder that another marker was also topped. For the first time, the total financial aid undergraduates received from all sources went beyond $100 million.
In 2008-2009, an undergraduate could expect to pay about $50,100 for tuition, fees, room, board, books, supplies and personal expenses. Nine out of ten students received some form of need-based and/or merit-based aid, with almost two-thirds receiving strictly need-based aid. Of course, MIT only awards need-based aid, but many undergraduates receive merit-based aid from private sources.