Availability

MIT makes financial support available to graduate students from a variety of sources and in several different forms -- fellowships, scholarships, traineeships, teaching and research assistantships, on-campus employment, federal loans, and alternative load funds. Many forms of support are granted solely on the basis of financial need or a combination of merit and need.

Neither a department nor the Institute itself has the financial resources to provide support for all deserving students. Thus, it is important that prospective students explore all sources of aid available outside MIT to find means of financing their graduate programs.

Assistantships

Appointments to teaching and research assistantships are merit-based and are made only to full-time, regular graduate students upon recommendation of the head of the department of registration. A student who wishes to be considered for appointment should write to the prospective department. Such requests from new students will be considered only after a complete application to the Graduate School has been filed with the Admissions Office and the applicant has been accepted.

Teaching and research assistants receive stipends for the services that they provide; these stipends are taxable income that is subject to withholding tax. Teaching and research assistants also receive a nontaxable tuition scholarship.

Teaching Assistantships

MIT employs about 600 graduate students each year as part-time instructors or teaching assistants to assist the faculty in grading student quizzes, instructing in classrooms and laboratories, and conducting tutorials.

Appointments to teaching assistantships are made upon recommendation of the head of a department. A student who wishes to be considered for a teaching appointment should write to the department. Only full-time graduate students who are candidates for advanced degrees may be appointed. A Free Application for Student Aid (FAFSA) is required for all teaching assistants who are United States citizens or permanent residents. This form may be obtained at the website http://www.fafsa.ed.gov

Fellowship Opportunity

Legatum Fellowship

The Legatum Center administers a competitive fellowship program for incoming and current MIT graduate students, across all academic disciplines, who demonstrate the potential to create sustainable, for-profit enterprises in low-income countries. Ideal applicants will develop innovative businesses that empower ordinary citizens, while promoting prosperity and economic development. The Center provides financial assistance, specialized seminars, business creation coaching, and opportunities for fellows to engage with prominent entrepreneurs, thought-leaders and investors.

Please visit http://legatum.mit.edu/fellowship for more information and to apply online.

Research Assistantships

Each year, approximately 2,500 graduate students hold appointments as research assistants. The principal duty of a research assistant is to contribute to a program of departmental or interdepartmental research.

Research assistants are compensated on the basis of time devoted to their research. In all cases they must pay full tuition.

Loans

Graduate students who are US citizens or eligible non-citizens should apply first for Federal loans. These loans include the Federal Perkins Loan, the Federal Direct Stafford Subsidized and the Federal Direct Stafford Unsubsidized Loans. The federal loans have the advantage either of being capped at 8.25% (Stafford loans) or having a low repayment rate (5% for the Perkins Loans). More details on these loans are available at the Student Financial Aid Office Web Site, web.mit.edu/finaid/fin_aid/. The federal loans are available to students who are registered in degree granting programs at least half-time. Students are asked to complete the MIT Graduate Loan Application and the Free Application for Federal Student Aid both available at web.mit.edu/finaid/fin_aid/.

For eligibility beyond the Federal loans many alternative loan programs are available. In general the interest rates are variable and not capped. Please consult the web site web.mit.edu/finaid/fin_aid/ for current details.

International students may apply for alternative loan funds. Links to lender sites are available from web.mit.edu/finaid/fin_aid/. Cosigners who are U.S. citizens are likely to be required.