Massachusetts Institute of Technology- MIT scholarships is geared towards helping students to achieve their desired degrees from the university. A wide variety of merit-based and competitive scholarships and fellowships are available for a second year and incoming students. But for incoming students, these scholarships are only granted after a thorough review process which is totally independent of acceptance. All students are allowed to avail the scholarships and fellowships offered as per their merit and eligibility, except MIT Public Service Center Fellowships and Legatum Fellowship as both these fellowships are granted by respective organizations.

Scholarships are the types of funding that are offered to cover all your educational expenses and you don’t need to repay the funds awarded. But, there are certain criteria on the basis of which MIT Scholarships are granted to incoming and second-year students. Scholarships are granted based on financial need, academic merit, and grants, however at MIT need-based grants are also offered to undergraduate students as scholarships. Both graduate and undergraduate students can avail the scholarships, but fellowships are mainly granted to graduates and grants are awarded to undergraduate students.

MIT Scholarships for Undergraduates

Any incoming national or international students applying for MIT undergraduate financial aid become automatically eligible for MIT Scholarships and federal grants. However, students need to apply separately for private or outside scholarships and MIT Scholarships and state grants. MIT Scholarships for undergraduate students are awarded directly by the university based on financial need of the students. There are four different scholarship programs including:
-MIT scholarships
-Federal grants
-State scholarships
-Outside or private scholarships 

Getting an undergraduate scholarship

Students who are interested in availing undergraduate MIT Scholarships need to apply for MIT financial aid each year of their semester. The university grants financial aid to all undergraduate students on the basis of their financial need. If any student qualifies for MIT financial aid, then automatically they are eligible for MIT Scholarship for undergraduate study. The scholarship received by the undergraduates comprises the amount up to the price minus the self-help level and the sum of the expected family contribution.

MIT Scholarships for Graduate Students

The traineeships or scholarships awarded to graduate students cover partial or full tuition fees and even offer a handsome stipend to the students to defray their living expenses. The graduate scholarships are awarded on the basis of financial need, academic merit, and few other crucial factors. The funds for the scholarships are mainly provided by corporations and donors to the university so that they can grant it to outstanding students to cover their education expenses. Moreover, some government foundations and agencies also provide scholarships and fellowships to excellent graduate students directly for use at institutions or to the institutions so that they can administer the funds on behalf of the students.

How to get MIT scholarships for Graduation 

If you are enrolled in any MIT Graduate program and seeking financial aid in the form of MIT scholarship, traineeship or fellowship, then simply check the correct items present on the regular graduate application for admission and financial aid. Moreover, any students enrolled in MIT for advanced degree program then they are automatically considered for any awards for which they are eligible. Students may consult the appropriate department of the university to collect further information about MIT Scholarships for graduates.

Where the Money for MIT scholarships Comes From

Funds for MIT Scholarships basically gathered from two sources, Institute funds which can be utilized for any purpose and charitable gifts to MIT. Alumni and donors provide funds to university for scholarship programs, which they invest as a part of MIT’s endowment so that the institute can help graduates and undergraduates for generations. The university currently has over thousands of this gift and endowed funds.

There are wide varieties of undergraduate and graduate programs offered at MIT and for each program scholarship is available. So, students need to contact the appropriate department to avail financial aid for their education and find out the appropriate MIT Scholarship program for which they are eligible. The scholarships and fellowships are available for all incoming and second-year students that they can avail to complete their graduation and undergraduate programs from MIT Sloan with ease.

Go through the complete information on MIT Scholarships.