The Massachusetts Institute of Technology (MIT) is a private research university in Cambridge, Massachusetts, with 11,886 students, including 4,535 undergraduates, in fall 2024. Its pros are world-leading science and engineering, generous need-based aid and outstanding graduation rates; its cons are extreme selectivity, a demanding core curriculum and a very high sticker price for families who do not qualify for aid.
Here is each pro and con in detail, followed by cost, outcome and accreditation figures from the federal College Navigator database.
Massachusetts Institute of Technology at a Glance
- Type: private not-for-profit research university.
- Location: Cambridge, Massachusetts, on a campus that runs more than a mile along the Charles River.
- Founded: 1861; it moved from Boston’s Back Bay to Cambridge in 1916.
- Research status: Doctoral Universities: Very High Research Activity (R1).
- Enrollment (fall 2024): 11,886 total, of whom 4,535 are undergraduates.
- Student-to-faculty ratio: 3 to 1.
- Admission: 5% of applicants were admitted for fall 2024.
Pros: What MIT Does Well
- Top-tier science and engineering. Engineering is MIT’s largest school, and the institute is closely associated with computer science, artificial intelligence and biotechnology. As of October 2024, 105 Nobel laureates had been affiliated with MIT as alumni, faculty or researchers.
- Research from the first year. The Undergraduate Research Opportunities Program (UROP), launched in 1969, lets undergraduates join research projects across the institute, and MIT’s 3 to 1 student-to-faculty ratio makes that access realistic.
- Need-based aid that covers the full need. MIT is need-blind and meets full demonstrated need for all undergraduate applicants, including international students. Beginning with the 2025-2026 academic year, it does not charge tuition to students from families with incomes below $200,000 with typical assets.
- Almost everyone graduates. 99% of full-time freshmen who started in fall 2023 returned in fall 2024, and 96% of the fall 2018 cohort earned a bachelor’s degree within six years.
- Guaranteed housing and a residential culture. Undergraduates are guaranteed four years of housing in one of 11 undergraduate dormitories, and there is an active system of fraternities, sororities and independent living groups.
- Broad athletics. MIT sponsors 31 varsity sports in NCAA Division III, and it is the all-time leader in Academic All-America selections.
Cons: What to Weigh Before Applying to MIT
- Extremely hard to get into. MIT admitted 5% of applicants for fall 2024, and the middle half of enrolled freshmen scored 34 to 36 on the ACT composite. Even outstanding applicants should treat it as a reach.
- A demanding shared core. Every undergraduate completes the General Institute Requirements: two terms each of calculus and physics, a term each of chemistry and biology, a laboratory subject and eight humanities, arts and social science subjects. Students must also pass a swimming test to graduate.
- High cost for families above the aid thresholds. Tuition and fees were $62,396 in 2024-2025, and the estimated total cost of living on campus was $85,960. In 2023-2024, families earning more than $110,000 paid an average net price of $48,479.
- No merit or athletic scholarships. All MIT aid is based on demonstrated need, so strong students from higher-income families will not receive merit discounts that some other universities offer.
- Science degrees only at the bachelor’s level. MIT confers only bachelor of science degrees. Students set on a traditional liberal arts BA, or on Division I sports, will find a better match elsewhere.
What MIT Costs: Tuition, Housing and Net Price
| Item (2024-2025 unless noted) | Amount |
|---|---|
| Tuition and fees | $62,396 |
| On-campus food and housing | $20,280 |
| Total cost, living on campus | $85,960 |
| Average net price (2023-2024) | $20,996 |
The average net price, the cost after grants for full-time beginning students, was $20,996 in 2023-2024. By income it averaged $1,480 for families earning $48,001-$75,000, $11,555 for $75,001-$110,000 and $48,479 above $110,000. Those figures predate the tuition-free threshold that began in 2025-2026, so use MIT’s net price calculator for a current estimate.
Is MIT a Good School? What the Numbers Say
Yes. By any measure in the federal data, MIT is one of the strongest universities in the United States: 99% freshman retention, a 96% six-year graduation rate, an 83% four-year graduation rate for the fall 2018 cohort and a 3 to 1 student-to-faculty ratio.
The real question is fit. MIT suits students who want to be pushed hard in mathematics and science and who will use the research access. Students who want a lighter core, a BA, or merit money may be happier and better funded elsewhere.
Who Accredits MIT?
MIT is accredited by the New England Commission of Higher Education (NECHE), with accreditation dating from 1929, and College Navigator lists its next review for 2030.
Who MIT Suits, and Who Should Look Elsewhere
A good fit for: students aiming at engineering, computer science, physics, mathematics or economics who want undergraduate research, and low- and middle-income students who qualify for its need-based aid.
Worth comparing alternatives if: you want a liberal arts BA, merit scholarships, Division I athletics, or a less intensive workload.
Frequently Asked Questions
- What is MIT’s acceptance rate? 5% of applicants were admitted for fall 2024.
- Is MIT free for some students? Beginning with the 2025-2026 academic year, MIT does not charge tuition to students from families with incomes below $200,000 with typical assets.
- Does MIT give merit scholarships? No. All aid is need-based.
- What division is MIT in sports? NCAA Division III, with women’s crew competing at Division I.