What is the total cost of MIT MFin really cost including living, health, and travel expenses?

Question

Hema A · Accepted Answer

The total cost of MIT&rsquo;s MFin program, including tuition, housing, health insurance, and other living costs, falls between $125,000 and $165,000, depending on whether you opt for the 12-month or 18-month track. Tuition alone is $93,834 for the 12-month program and $128,820 for the 18-month one. On top of that, expect to spend $2,000&ndash;$2,500/month on rent, groceries, transport, and daily expenses in Cambridge. Health insurance is around $4,200, and it&rsquo;s mandatory unless you have valid alternate coverage.
Other hidden costs include course materials (~$2,000), travel (home trips, conferences), and MIT&rsquo;s student life fee (~$400). So, if you&rsquo;re doing the 18-month track and living modestly, $160K+ is a realistic estimate. For the 12-month track, budgeting around $125K&ndash;$130K is safer. It&rsquo;s expensive, no doubt &mdash; but if you land in IB, quant trading, or big tech finance, many grads say the payback is fairly quick.

Shruti T · Answer

The headline tuition doesn&rsquo;t reflect the real cost,  MIT MFin gets significantly pricier once you add all the extras.
&bull; Tuition: $93,834 (12-month) / $128,820 (18-month) &bull; Living expenses in Cambridge: $24,000&ndash;$38,000 depending on duration and housing choices &bull; Health insurance: ~$4,200 unless you waive it with proof &bull; Books, course materials, and student life fees: $2,500&ndash;$3,000 &bull; Travel and incidentals: At least $2,000 for flights, networking, and visa-related expenses &bull; Internship income (18-month track): Can offset some cost, especially if it leads to a return offer &bull; RA/TA positions: Some students use these to earn a stipend or reduce tuition slightly
All-in, the 12-month program costs ~$125K, and 18-month can go beyond $160K. Having a 10% buffer is smart &mdash; unplanned costs show up often.
For more details you can read this blog on " MIT MFin"

Isha B · Answer

MIT MFin&rsquo;s sticker price can be misleading &mdash; the real cost includes much more than tuition.
&bull; Tuition: $93,834 (12-month) or $128,820 (18-month). &bull; Living: $2,000&ndash;$2,500/month in Cambridge for rent, groceries, transport, and basics. &bull; Health insurance: Around $4,200, mandatory unless waived with valid coverage. &bull; Extras: ~$2,000 for course materials, $400 student life fee, plus travel for conferences or home visits.
For 18 months, expect at least $160K, even with careful spending. The 12-month track can be kept closer to $125K&ndash;$130K. While expensive, recruiters from investment banking, trading, and major tech finance roles pay salaries that can cover the cost in a few years. Planning a realistic budget early helps avoid surprises during the program.

Ishaan M · Answer

The total cost of MIT MFin, once tuition and all living expenses are factored in, ranges roughly from $125K to $165K depending on program length. For the 12-month track, tuition is $93,834; for the 18-month track, it&rsquo;s $128,820. Living in Cambridge adds about $2,000&ndash;$2,500 per month for rent, food, and transport. Health insurance is mandatory unless you have alternate coverage, and MIT&rsquo;s plan is around $4,200. Other costs include $2,000 for course materials, $400 for the student life fee, and variable travel costs for conferences or home trips. Students on the 18-month track often end up near $160K+, even with a modest lifestyle. The 12-month version can be kept closer to $125K&ndash;$130K. It&rsquo;s a steep investment, but many graduates entering IB, quant trading, or big tech finance find the return on investment faster than in most other master&rsquo;s programs.