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Rank: 6

Massachusetts Institute of Technology

Cambridge, MAweb.mit.edu/
MIT is one of the world's most respected science schools, and for good reason. For starters, consider its notoriously competitive selection process -- only about 7% of applicants were accepted last year. Then there's the grueling workload, which includes physics, biology, chemistry and calculus as required courses. And, of course, MIT's professors are world class, with 10 Nobel Prize winners currently on the faculty. All that hard work reaps rewards, as most of the 93% of Techies who graduate tend to do very well. Those who go straight into the workforce report earning 26% more than students from similar schools. While the school isn't exactly a bargain, it's one of the less expensive private schools and generous with aid -- about a fifth of students receive federal loans. As a result, the average loan debt upon graduation is about $17,000. MIT has a highly diverse student body, and the urban campus in Cambridge gives students access to nightlife as well as the cultural activities of nearby Boston. MIT alone has a dozen galleries and museums on campus. When not appreciating the arts, Techies are known for creative, nerdy fun, like playing Quidditch or experimenting in the Laboratory for Chocolate Science.
costs
Est. Full Price 2018-2019
$69,000
% of students who get any grants
69%
Est. price for students who receive aid
$23,200
Average price for low-income students
$6,000
admissions
Acceptance rate
8%
Median SAT/ACT Score
1530/34
SAT/ACT required?
Yes
Enrollment
4,680
Financial Aid
% of students with need who get grants
96%
% of need met
100%
% of students who get merit* grants
0%
Average merit grant
$0
student success
Graduation rate
93%
Average time to a degree
4.1 years
Average student debt
$17,300
Average salary within 3 years
$81,500
% of low-income students who become upper middle class
67%
key deadlines
Early decision application
Nov 1
Regular application
Jan 1

* Share of full-time undergraduates who had no financial need and were awarded grants.

Sources: U.S. Department of Education, Peterson's, PayScale.com, MONEY/College Measures calculations, Equality of Oppourtunity Project.

* Share of full-time undergraduates who had no financial need and were awarded grants.

Sources: U.S. Department of Education, Peterson's, PayScale.com, MONEY/College Measures calculations, Equality of Oppourtunity Project.

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