The goal of MIT’s endowment is to support current and future generations of MIT scholars with the resources they need. As such, endowment funds are used for Institute activities including education, research, capital projects, faculty work and student financial aid.
The Institute’s need-blind undergraduate admissions policy ensures that an MIT education is accessible to all qualified candidates regardless of financial resources. MIT provides financial aid to meet the full cost of an MIT education, based on the calculated need of the family. In 2011-12, the average need-based financial aid package was $40,053. Currently, 64 percent of MIT students receive need-based financial aid, and 33 percent of MIT students receive sufficient scholarship funding that they pay no tuition.
MITIMCo’s investment policy is focused on the primary goal of generating high real rates of return without exceptional volatility. The unitized pool is primarily invested in equities and heavily weighted toward markets such as private equity, real estate and marketable alternatives. For the past ten years, MIT’s unitized pool of endowment and other funds has earned an annualized return of 9.7 percent.
MITIMCo is a division of the Massachusetts Institute of Technology, created to manage and oversee the investment of the Institute's endowment, retirement and operating funds. As of June 30, 2012, MITIMCo had more than $15 billion of total assets under management.