The MIT USA scholarship for Indian students is designed to fully meet the demonstrated financial need of its students. MIT has allocated an estimated $161.8 million to provide need-based awards, an increase from $143.8 million in the previous year. These scholarships are made possible through MIT’s general funds, endowment, and generous contributions from friends and alumni of the Massachusetts Institute of Technology.
For undergraduate students, MIT scholarships are awarded through a centralized system, while postgraduate students are considered for assistantships and fellowships within their respective departments.
The average cost of attending Massachusetts Institute of Technology is $73,160 USD (approximately 60 lakhs INR). However, thanks to financial aid programs such as MIT scholarships, fellowships, and grants, international students can expect their financial burden to be reduced by nearly 60%. This support has allowed 80% of MIT graduates to complete their education without incurring debt, which is significantly higher than the national average of 40%. In the academic year 2022, the average MIT scholarship amount was $53,997 USD (approximately 44.34 lakhs INR).
In addition to MIT scholarships, students may also receive financial assistance from external sponsors to help cover their educational expenses. Furthermore, MIT allows all students, regardless of financial need, to work while studying. International students, in compliance with the guidelines of their US student visa, can work up to 20 hours per week.