Hey guys, I'm really interested in MIT but I'm concerned about the cost. I was curious if they provide any scholarships to incoming freshmen, and if so, what types of scholarships are offered and how competitive are they? Thanks!
Hey there! Yes, MIT does offer financial aid to their incoming students, and they're very generous about it. The financial aid consists mostly of grants, which don't need to be repaid. These grants are awarded based on financial need and not on academic or extracurricular achievements.
They have a need-blind admission policy, which means that they do not consider your financial situation when making an admissions decision. So, your ability to pay for college doesn't impact your chances of getting accepted.
To be considered for financial aid, you must submit the FAFSA and CSS Profile. Keep in mind that MIT financial aid is primarily need-based, so the competitiveness of the aid is mostly determined by your family's financial situation, not by your achievements.
Aside from need-based grants, MIT also participates in work-study programs, which allows you to work part-time on or off-campus to earn money for expenses. There might be other outside scholarships you can apply for as well. Good luck with your application!
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