There are several form of financial aid. Here, only the scholarship schemes are described.

• MIT scholarships
• Federal Scholarship
• Graduate Financial Aid
  

  1. MIT Scholarships

   MIT Scholarships is a scholarship scheme for undergraduate students. Graduate students are not allowed to participate in this program. The source of funding of this scholarship is MIT Fund and Charity. As, undergraduate students can not do jobs while studying due to excessive pressure, these scholarhsip is solely for undergraduate students. Graduate students can manage some job and can continue class and job simultaneously. That is why graduate students are excluded from this program.

  

  Benefit of MIT Scholarships:

  The benefit of MIT Scholarships is financial aid. But the amount is not pre-determined. If a student apply for this scholarhsip, based on the annual family income, a specific amount of money will be awarded to the student as scholarship.

  • The benefit of this scholarhsip is money.
  • Amount depends on the need of the student

  Am I Eligible?

  To be eligible for this scholarship, a student must be:

  1. Enrolled in MIT
  2. Undergraduate Student
  3. In need of financial support

  These are the eligibility. It is very straight forward. If you are an MIT student and in need of financial help, that is enough to be considered as eligible for this scholarhsip.

  How to Apply:

  If student is eligible for MIT Scholarships, he/she need to apply for this scholarship every year. MIT divides its students into two categories for scholarship. Application system is different for different categories. The categories are

  • Prospective freshmen and transfers
  • Enrolled undergraduates
    

    2. Federal Scholarship of MIT

    Federal Scholarship is basically a grant program. It is awarded with the MIT Scholarships. Sometimes , it seems that the financial aid awarded to the student is not covering the entire need of the student. But financial aid fund is limited. That is why Federal Scholarship is awarded.

    

    Benefit of Federal Scholarship:

    The benefit of Federal Scholarship is money. Winner students are awarded with an amount of money. The duration of this scholarhsip is one year and it is not automatically renewed. Every year, students have to apply for this scholarship.

    • $400 to $5500 per year. (Amount depends on need of the student)
    • Additional $4000 per year for the student with more need

    Am I Eligible?

    Every undergraduate student is eligible for this scholarship. However, student must be in need of financial help.

    How to Apply:

    Separate application form is not needed for this scholarhsip. Students who have applied for financial aid, are automatically considered as candidates of this scholarship. There two different application sections. One is for US students and other is for International Students.

    US Student Application Area

    International Student Application Area

    Click on the link and you’ll be redirected to the instruction page of the MIT Financial Aid Website. Follow the instruction provided there to apply.

    3. Graduate Financial Aid of MIT

    Financial Aid for Graduate Students of MIT is not a single program but a package of programs to help and support the graduate students. Financial aid for graduate students come in form of scholarship, research assistantship, fellowship, teacher’s assistantship, traineeship. grants, interest free student loans and official job in university office as part time officer. Graduate students who are seeking their graduate education opportunity, MIT is one of the best because of these kind of facilities.

    Benefits of Graduate Financial Aid of MIT:

    There are lots of benefits of this aid. The benefits are listed below.

    1. Scholarship: Amount of money depends on the need of the student
    2. Research Assistantship: Fixed Salary Per Month (amount varies from faculty to faculty)
    3. Teacher’s Assistantship: Fixed Salary Per Month (amount varies from department to department)
    4. Grants: Amount is not specific
    5. Official Job: FIxed Salary Per Month (amount depends on the position

    Eligibility:

    For graduate financial aid, no different eligibility is required. Every MIT graduate student, who need financial support to continue his/her education, considered as eligible for Graduate Financial Aid of MIT.

How to Apply:

There is no online application process of Graduate Financial Aid of MIT. Enrolled students have to contact directly to their department to apply for Graduate Financial Aid of MIT. The procedures are:

1. Get enrolled into any graduate program of MIT
2. Then go to the Department under which the Graduate Program is running
3. Collect Graduate Financial Aid of MIT application form and fill it up
4. Arrange your financial condition certificate and write an application mentioning the reason of asking for financial aid.
5. Submit all the papers with the application form.

This is how to apply for this financial aid. After official processes, the department will contact with the student to let him/her know about the condition of his/her financial aid.