A-
100% Possible to Get Around
MIT runs several campus shuttles that get you from everywhere important (your dorm, your sorority/fraternity, your classes) to everywhere else important (your friend's dorm, your study group, the subway, Boston, etc.). They run all day and until 2am (4am on Fridays and Saturdays). Most of the drivers are nice, and the GPS-tracking is *usually* working.
MIT is right on the Red Line (subway) and the number 1 bus. These provide easy access to the rest of the city. This review gives an A- because the Boston Transport system shuts down at 12:35am everyday.