Is MIT even an option?

The “will he get in” – who knows?

How much would it cost – answered here
https://sfs.mit.edu/access-affordability/net-price-calculator

Every college is required to have a net price calculator somewhere on their site.

Personally, I would try to expand his list to have choices between the state university and MIT so there is a range of options. See if there are schools that have more to offer than your state university without being quite as elite as MIT.