There are certainly restaurants nearby, but not sure I'd call them cheap. I imagine a lot of MIT students don't have the money to eat out every day. And since most dorms don't have any kind of kitchens or cooking implements, buying food from the grocery and cooking isn't really an option. Pre-made meals or other things from grocery stores that don't require cooking could work, but, again, I'd expect some/many students rely on their university meal plan for their food, and don't have much spare money to buy their own.