Financial Aid and Costs

As MBA students, the LGO program is the same price as the MIT Sloan MBA. Every student accepted to the LGO program receives a generous financial aid package. Combined with an outstanding career placement record, the LGO program offers an excellent return on investment. MIT LGO reviews applicants without regard to financial circumstances.

LGO seeks to attract the most talented candidates for the next generation of product development, operations, and manufacturing professionals. We are dedicated to finding the best applicants and awarding LGO financial aid packages that make their studies at MIT affordable and accessible. We award LGO financial aid at the same time as our admissions decisions. There are no extra forms or applications to be considered for the LGO fellowships and scholarships.

All admitted students who are not fully funded by an outside source are awarded a generous fellowship and considered for additional scholarship funds. Last year, the LGO program awarded over $3.5 milllion to its incoming class.

Tuition for the full two-year program is the same as the MIT MBA price. Before financial aid, tuition is currently about $136,500 for the full two-year program.

Every student’s budget can vary based on family size and can be adjusted by MIT Student Financial Services upon request. Additional living costs vary depending on your lifestyle and choices when relocating for the LGO internship.

Academic Year 2016-2017 (est.)

ITEM COST
Tuition and Fees $68,250
Books and Supplies $2,200
Computer (1st year only) $2,000
Food $4,894
Personal (incl. Medical Insurance) $5,580
Housing $14,850
Transportation $2,740
TOTAL $100,514

With the generous support of our partner companies and alumni, the LGO program awards over $3.5 million in fellowships and scholarships to each incoming class. A student’s award varies based on previous academic and professional performance, dedication to the LGO mission, and career interests in engineering, high-tech management, operations, and manufacturing.

Every LGO student not sponsored by their company receives a fellowship award ranging from $50,000 to $80,000. The fellowship is distributed throughout the two-year program, and is applied toward the program’s tuition costs or as a stipend.

LGO communicates the total financial aid package together with the acceptance letter.

A select number of applicants receive additional scholarships. The LGO program has a variety of funds available from generous donors. Students receive scholarship notification with their acceptance package.

Among our funds are:

  • LGO Merit Scholarship: A small number of students every year receive financial aid from LGO’s scholarship fund in addition to the LGO fellowship. The scholarship amount varies. We award LGO Merit Scholarships to students who show strong dedication to LGO program mission and goals.
  • LGO Alumni Scholarship: The LGO Alumni Council contributes to a fund dedicated to ensuring the strength of future LGO classes. The Alumni Scholarship varies between $10,000 to $20,000. The awards are given to the strongest students who will contribute to the class’s success.
  • Don Davis Scholarship: This award is in memory of Don Davis, former CEO of Stanley Works and a beloved LGO lecturer and mentor who trained students in leadership for 22 years. LGO selects two Davis Scholarship award recipients based on leadership demonstrated in the application and displayed potential to be a strong leader. The fund awards two $5,000 scholarships per class.
  • Alumni Endowed Scholarship: Select LGO applicants receive awards between $10,000 to $20,000 that come from endowed funds from top alumni.
  • Noyce Fellowship: Named after the co-founder of the Intel Corporation, we recognize outstanding students with previous academic and/or professional experience related to the semiconductor business. There are no requirements to work for Intel. Noyce Fellows receive a full tuition scholarship and a stipend over the two years at the MIT. In accordance with MIT policy, acceptance of this scholarship precludes Noyce Fellows from receiving additional tuition awards or stipends.

The MIT community, in cooperation with the Office of the Dean of Graduate Education (ODGE), offers several other funding opportunities. These include:

  • ODGE Fellowships: A limited number of students receive a prestigious ODGE fellowship. These are MIT-wide awards, and each MIT department nominates one person for each award. These fellowships are highly competitive.
  • TA Appointments: About one-third of LGO students choose to pursue teaching assistantships during their time on campus to help offset some tuition and living expenses. Students usually apply for a TA appointment at the end of the previous semester. Tuition and stipend coverage varies based on the course and TA’s workload. LGO students are eligible for TA appointments beginning in their first spring semester on campus. Students find out more information about this option when they arrive on campus.

A number of LGO students have received generous scholarships from outside sources. If students receive a scholarship that covers full tuition with a stipend, the LGO program usually asks them to forego the LGO financial aid award so the funds can benefit other students with need.

A limited list of external funding can be found at this link for U.S. citizens and permanent residents and at this link for international students. We encourage students to research external scholarships that fit their specific profile.

The MIT LGO program accepts a number of US veterans every year, averaging about 15% of the LGO class. Veterans can get advice from current students, the Sloan Student Funding office, and the MIT Student Financial Services office. For information about veteran benefits, please visit this page.

MIT also participates in the Yellow Ribbon Program. Qualified candidates are welcome to ask about the opportunity during the application process, and can begin the Yellow Ribbon application once accepted to the LGO program.

Many students will need to apply for further financing in the form of loans in order to pay for the LGO program. MIT offers financing options for both domestic and international students through Student Financial Services.

Once admitted to LGO, students can begin their FAFSA and loan applications. Further details about LGO tuition costs and how to budget your expenses over the two years are provided when admitted.