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Massachusetts Institute of Technology, or MIT as it’s better known, focuses the most on technology subjects, such as engineering or math. However, it also offers plenty of other non-technology majors. MIT is located in Cambridge rather than Boston. While the two communities are close to each other, Cambridge is separated from Boston by a small body of water. However, students have options of various areas in both Cambridge and Boston to explore when they have the free time including the Paul Revere House, Powder House Square, Harvard Square, Boston Common, and museums. Fenway Park is also close by meaning that, if students want to watch a baseball game, they can.

Overview of Massachusetts Institute of Technology

MIT is classified as a private, not-for-profit university set within a midsize city. The school was founded in 1861, well after the founding of Harvard University. Among other doctoral universities, MIT holds a Carnegie classification of “very high research activity”. High school graduates who took AP classes and passed their exams can receive credits for each exam they passed.

MIT holds an institutional accreditation from the New England Commission of Higher Education and it has been accredited since December 1, 1929.

General Information

School Type Private not-for-profit
Campus Setting City: Midsize
Campus Housing Yes
Student Faculty Ratio 3:1
Graduation Rate 94%
Year Founded 1861

Student Enrollment

Total Students11,574


Undergraduate Student

Male 2,485
Female 2,117

Graduate Student

Male 3,765
Female 3,207

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Male 14,689
Female 7,017


Male 734
Female 772

Acceptance Rate7%

Male   5%
Female   11%

Enrollment 1,155

Male 912
Female 855
Application Fee $75
High School GPA Recommended
High School Rank -
High School Transcripts Required
College Prep Courses Recommended
Recommendations Required
SAT/ACT Required
TOEFL (Test of English as a Foreign Language) Recommended
Application Deadline January 1
Common Application Accepted No

Tuition Cost & Financial Aid

MIT’s tuition is not inexpensive. In a recent academic year, tuition and fees were $53,790 and student’s books averaged $820. The average net price is the cost remaining after all financial aid has been applied to the full balance: at MIT, this is $18,971.

Financial aid helps families to cover the cost of attendance at MIT - this can take a hefty bite out of a family’s budget.

  • Families who earn up to $30,000, the average net price is $7,581
  • Families whose income falls between $30,001 and $48,000, the average net price is $3,343
  • Families whose income falls between $48,001 and $75,000, the average net price is $3,938
  • Families whose income falls between $75,001 and $110,000, the average net price is $9,303
  • Families who earn more than $110,001, the average net price is $40,757

Freshmen who received grants or scholarships numbered at 662 or 60%; they received about $48,459. Students receiving institutional grants and scholarships numbered about 656 or 60%; they received $46,080.

Average net price 2017-2018
Net Price $18,971
Average Total Aid $48,459
Students Receiving Financial Aid 73%
Room & Board $16,390

Sticker Price

  • Tuition In-State - $53,790
  • Tuition Out-of-State - $53,790
  • Books and Supplies - $820
  • Room & Board - $16,390
  • Other - $2,160


The retention rate of freshman students is 99%, meaning that almost 100% of the entire freshman class will return to the same school in the next semester. The 4-year graduation rate is 85%; because some degree programs are more challenging than others, some students extend their time in school, graduating in six years; the 6-year graduation rate is 94%.

The student-to-faculty ratio is 3 to 1; this is an excellent ratio since students will be more easily able to reach their professors for assistance with their studies. The student population is 11,500+; undergraduate students make up 40% of the student body with around 4,600 students; graduate students comprise 60% of the student body with nearly 7,000 students.

MIT does not offer evening classes for students unable to attend classes during the day. However, it does offer distance learning, online classes, which enables these students to take their courses when they can so that they will be able to earn a degree. Popular degree programs at MIT include architecture and related services; business, marketing, management and related support services; computer and information sciences and support services; and engineering.

Student Population Total

Student Population 11,574

Evening Classes : No
Distance Learning : Yes

Most Popular Programs & Majors

(# of Diplomas Awarded by Subject)

All Engineering Majors 443 Total Graduates / 39%
Mechanical Engineering 182 Graduates
Electrical and Electronics Engineering 50 Graduates
Aerospace, Aeronautical and Astronautical/Space Engineering 46 Graduates
Bioengineering and Biomedical Engineering 46 Graduates
Materials Engineering 39 Graduates
All Computer Information Science Majors 371 Total Graduates / 32%
Computer Science 371 Graduates
All Physical Science Majors 84 Total Graduates / 7%
Physics, General 67 Graduates
Chemistry, General 15 Graduates
Geology/Earth Science, General 2 Graduates
Mathematics and Statistics 80 Total Graduates / 7%
Mathematics, General 69 Graduates
Financial Mathematics 11 Graduates
All Biological & Biomedical Majors 59 Total Graduates / 5%
Computational Biology 22 Graduates
Biology/Biological Sciences, General 19 Graduates
Neuroscience 18 Graduates
All Other Diplomas 9%

Outcome & Salary

Graduating from MIT often means that graduates earn good salaries. The average salary for an MIT graduate is $110,000, their early-career salary is $86,300, their mid-career salary rises to $155,200. This means they earn an excellent return on investment (ROI). Though the cost of education at MIT sits around $75,884, keep in mind that, within 10 years, MIT graduates will realize an ROI that is slightly more than $1,000,000—$1,024,156, to be precise. Their 20-year projected ROI is $2,576,116.

Students who choose not to go to college after high school earn a national average salary of $37,960. Their 10-year projected income is $379,600 and their 20-year projected income is $759,200.

Graduates Salary
College Grads Early Career Salary $86,300
College Grads Average Salary $110,000
College Grads Mid Career Salary $155,200
Return on Investment (ROI)
10 Year Salary Earnings Potential $1,100,000
20 Year Salary Earnings Potential $2,652,000
Cost of Education (Net Price) 4 Year $75,884
10 Year Projected ROI $1,024,116
20 Year Projected ROI $2,576,116
No Colleage Education Salary Comparison
National Average Salary $37,960
10 Year Projected Income $379,600
20 Year Projected Income $759,200

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