The Massachusetts Institute of Technology (MIT) is among the country's most recognized universities, particularly in technological, scientific and engineering fields. Like many private universities in the United States, however, the cost of attending MIT is extremely high, a fact that has prompted the university to develop extremely generous scholarship and financial aid programs for needy students. Upon application to MIT, needy students are automatically considered for many financial aid programs, yet interested students should follow a few additional steps in order to maximize their award amount and reduce the expense of attending MIT.

Step 1

Apply for MIT grants and scholarships by filling out a financial aid request along with your college application. Include all personal and family financial information on the form and attach any required documents, including tax returns. Remember that financial need does not impact the university's admissions decisions at MIT, so fill out all information truthfully and completely in order to receive an aid package that suits your financial situation. As an MIT student, you will also need to resubmit financial information on a yearly basis to renew your aid package, which is usually a mix of grant, loan and work-study assistance. MIT scholarships are calculated by subtracting your family's expected contribution and your personal financial ability to pay from the total price of tuition, room and board, and includes both university financial aid funds and federal funds from programs such as Pell Grants and the Federal Supplemental Educational Opportunity Award.

Step 2

Investigate state-level scholarships that can be used at MIT. Many states offer scholarship programs for students from the state, including programs that allow applicants to study in other states. Submit your Free Application for Federal Student Aid (FAFSA) form to the relevant state financial aid offices for consideration, along with any specific documents your state may require. If you are already enrolled at MIT and your home state does not offer scholarship support for study at MIT, you may be able to become a resident in the state of Massachusetts and apply for state assistance locally.

Step 3

Apply for independent or private scholarships, including funds from community organizations, labor unions, non-profits, minority advocacy groups, artistic foundations or corporations. Inquire about these opportunities in school guidance departments, community centers, your workplace or through organization websites and complete the necessary application process in order to be considered. Focus on funding sources specialized in technical and engineering fields that are more likely to fund your MIT education, such as corporations specialized in engineering or foundations for technical advancement and education.

Step 4

Apply at your local Veteran's Affairs (VA) office if you are an armed forces veteran or family member of a veteran eligible for financial assistance for the VA. MIT has a permanent staff member that will guide you through academic veteran benefit procedures and help you complete form 22-1999 once you are enrolled.