Massachusetts Institute of Technology

Overview of Massachusetts Institute of Technology

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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.

Top Rankings For Massachusetts Institute of Technology

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Admissions

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Tuition Cost & Financial Aid

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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.

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.

Sticker Price

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Academics

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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

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Outcome & Salary

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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.

Photos & Videos

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