Fellowships, Scholarships, and Financial Assistance
We strive to ensure that all students who are admitted to our graduate program are fully supported. Because departmental funds are not sufficient to fully fund the entire incoming class, we encourage students to apply for external sources of funding, including NSF graduate fellowships, UniCredit Foundation Scholarships, Bank of Italy Fellowships. We discourage any student from enrolling in the PhD program on a self-financed basis.
Entering students who wish to be considered for financial aid from MIT should so indicate in the appropriate box on the application form, due December 15. Awards are made by April 15, and generally cover the first two years of study.
The sources of financial support are varied. Many students hold fellowships for which there is national competition, such as those given by the National Science Foundation (NSF), the Jacob K. Javits Program, as well as by international and foreign agencies. Applications for such fellowships must be made directly to the appropriate foundation or agency, and an application for admission must also be made to MIT. NSF Fellowships have been a major source of support for students who are U.S. citizens and permanent residents. Interested students should apply online at https://www.fastlane.nsf.gov/grfp/.
A number of scholarships or fellowships are awarded to entering students by the Department from MIT funds or endowments. These include the Armen Avanessians (1981) Fellowship, the Castle Krob Fellowship, the Castle Krob International Fellowship, the John Krob Castle (1963) Fellowship, the Emma Krob Castle Graduate Fellowship Fund in Economics, the Jerry A. Hausman Fellowship, the Gregory K. Palm (1970) Fellowship, the Daniel (1972) and Gail Rubinfeld Fellowship, the Carl (1976) Shapiro Fellowship, Graduate Economics Alumni Fellowships and endowed Institute scholarships.
Full-time teaching or research assistantships are available for students who have passed their generals exams, usually at the end of their second year in the program. These positions cover tuition, health insurance, and a stipend. The nine-month stipend for teaching assistantships in 2021-2022 is $35,000. The department will provide teaching assistantships to students making satisfactory progress on their dissertation through their sixth year in the program. Department faculty may offer part-time or full-time research assistantships that can substitute for or be paired with a part-time TA appointment. A small number of students receive dissertation support from external pre-doctoral research fellowships or a limited number of dissertation fellowships recently made available by gifts to the department. Institute rules require every holder of a graduate scholarship or fellowship to pursue a full-time program of graduate study. As a supplement to the appointments during the academic year, research projects within and outside the Department are possible sources of summer employment. Students are encouraged to contact faculty in their fields of interest to explore research assistantships during IAP and summer months.