Massachusetts Institute of Technology
Cambridge, MA77 Massachusetts Avenue, Cambridge, MA 02139-4307
617-253-1000
The Massachusetts Institute of Technology (MIT) is a private research university in Cambridge, Massachusetts. Founded in 1861 in response to the increasing industrialization of the United States, MIT adopted a European polytechnic university model and stressed laboratory instruction in applied science and engineering. Researchers worked on computers, radar, and inertial guidance during World War II and the Cold War. Post-war defense research contributed to the rapid expansion of the institute in the 1940s and 1950s. MIT's reputation in both basic science and engineering grew in the second half of the 20th century, and it became known for its entrepreneurial culture and close connections to the business world. MIT is a large, highly residential research university with a strong emphasis on science and technology. It is also a member of the Association of American Universities (AAU).
MIT has five schools and one college, containing a total of 32 academic departments. For undergraduates, these include departments within the Schools of Architecture and Planning; Engineering; Humanities, Arts, and Social Sciences; and Science. In addition, MIT has a School of Management and a School of Education. All of these schools offer undergraduate programs leading to the Bachelor of Science (BS) degree. The BS degree from MIT is internationally recognized and is often considered equivalent to a professional degree such as the Bachelor of Engineering (BE) or Bachelor of Architecture (BArch).
MIT offers a wide range of graduate programs leading to the degrees of Master of Science (MS), Master of Engineering (MEng), Master of Architecture (MArch), Master of Business Administration (MBA), and Doctor of Philosophy (PhD). In addition, several interdisciplinary programs leading to dual degrees are offered, such as the MS-MBA and the MD-PhD.
The MIT community is diverse, with students and faculty from all 50 states and more than 100 countries. The student body is about evenly split between men and women. Minority students make up about 20% of the undergraduate population. The average SAT score for incoming freshmen is about 1550 out of a possible 1600.
The campus of MIT is situated on 168 acres (0.68 km2) of land in Cambridge, Massachusetts, along the Charles River. The campus is adjacent to Boston, which is accessible via public transportation. The MIT campus includes several distinctive buildings designed by famous architects, such as the Stata Center by Frank Gehry, the Wiesner Building by Mario Botta, and the Dreyfus Chemical Engineering Building by Philip Johnson.
The academic year at MIT is divided into two semesters, each lasting about four months. The first semester begins in late August and ends in early December. The second semester begins in early January and ends in late April. There is a one-week break between the two semesters, and a three-week break in the summer.
MIT offers a number of need-based and merit-based scholarships, as well as financial aid for students from families with low incomes. The total cost of attendance (tuition, room and board, and other expenses) for the 2020–2021 academic year is about $76,000.
Quick Facts
Enrollment: 11254
Acceptance Rate: 7.26%
Type: Private not-for-profit, 4-year or above
Main Website: https://web.mit.edu/
Financial Aid: https://sfs.mit.edu/
Annual Costs
Total Cost In-State On-Campus: $72462
Total Cost Out-State On-Campus: $72462
Return on Investment Rating
The estimated cost for four years as an undergraduate at Massachusetts Institute of Technology is $243090.32. This includes the average cost of attendance for four years plus the interest on the average loan over a ten year repayment minus the average of grants and scholarships per student.
We then contrast this figure with average early-career and mid-career average incomes of graduates of four year programs at Massachusetts Institute of Technology. For graduates of Massachusetts Institute of Technology, we saw an average early-career income of $93700.00 and mid-career income of $167200.00. We then ranked the school's value based on how many years of mid-career income it takes to repay the educational costs.