Frequently Asked Questions
- I’m having trouble filling out my FAFSA, help!
- My studentaid.gov account says my information has been sent to MIT. What happens next?
- received a Pell Grant and the amount changed based upon your FAFSA, or
- need to submit verification documents to MIT.
- When do we pay the parent and student contributions to MIT?
- How do I view my financial aid award?
- How do I apply for aid?
- How do I obtain money for my travel expenses?
- How do I appeal my financial aid award decision?
- Why was my financial aid award decreased?
- What happens to my financial aid if I study abroad?
- Can I get financial aid for the summer term?
- I'm doing a summer UROP for credit, can I get financial aid?
- When will my loans be reflected on my account?
- How do I appeal my financial aid award as a graduate student?
- What happens to my financial aid if I stay at MIT for more than the standard number of semesters?
- How do I submit a health insurance waiver?
- What happens if I miss the financial aid deadline?
- How do I submit the Noncustodial Profile Waiver Request form?
- My FAFSA says it is “In review” on the studentaid.gov site, what should I do?
- Why is my preferred name not used on my bill, financial aid letters or other SFS-related documents?
- I’m having trouble filling out my FAFSA, help!
If your FAFSA appears as “In review” (meaning it has not been processed) in your studentaid.gov account, no corrections can be made until it is processed. You will receive an email once it is fully processed, letting you know that your FAFSA information has been sent to MIT.
MIT is now receiving FAFSA information from the Department of Education. However, we are awaiting additional updates from the DOE before we can begin reviewing FAFSA information and hope to do so in late-April. We are still reviewing an
We will reach out to you directly if you;
But don’t worry—both situations are rare! We do not anticipate changes to financial aid awards and will email you directly if we make any adjustments to your award.
We never bill you directly for your parent and student contributions. These are the resources we expect you to have to pay for your MIT education. We bill you for MIT charges such as tuition, fees, and on-campus housing and meal plans. You use your parent and student contributions to cover these charges when billed, as well as cover out-of-pocket expenses such as books, supplies, personal expenses, and travel.
Our counselors are always happy to assist you in planning how you will allocate your expected family contribution towards paying MIT charges and how to cover out-of-pocket expenses.We take your travel expenses into account when determining your financial aid award. However we don't provide funds directly for your travel, as we expect you to use your parent and/or student contribution for this type of expense.
We consider each financial aid application on a case-by-case basis within our general guidelines for awarding need-based financial aid. While we don’t negotiate financial aid or match another school’s offer, we’re always willing to talk with students and families who are concerned that they can’t afford MIT with their award.
If you decide you need to appeal your financial aid award, we ask that you reach out to your financial aid counselor. After this initial conversation, we may ask you to complete a supplemental form such as the Parents’ Estimated Annual Year Income Statement or the Monthly Cash Flow Statement.If you receive additional financial aid after we make an award to you, and sometimes after the financial aid is applied to your account, you may have what we refer to as an overaward. The additional aid could be a scholarship or grant from an outside organization or a research or teaching assistantship from an MIT department. When these circumstances arise, we reevaluate our original award decision. If we need to adjust your financial aid, we notify you and offer counseling to understand how the change impacts your student account and budgeting.
We work with undergraduate financial aid recipients to enable them to participate in study abroad options. Eligible programs must occur during the fall and/or spring semester and be approved for academic credit.
If you're interested in studying abroad during an academic semester, you should work with MISTI to find a program that is an appropriate fit. Once a program has been approved, you will receive a form to be signed by us at SFS, stating that you have been counseled on how studying abroad can affect your financial aid and billing.MIT undergraduate and graduate students are automatically eligible for participation in MIT’s summer session; however, MIT does not award need-based aid from institutional sources to undergraduates for summer classes.
MIT’s commitment is to aid its undergraduate students for the nine-month academic year (the fall and spring terms). If you’re planning to attend MIT's summer term, contact your financial aid counselor to receive information on other possible funding sources. Sometimes borrowing additional funds may be necessary.
Although a summer UROP is usually done for pay, registered MIT undergraduates may do it for academic credit instead. However, there is no MIT financial aid available to assist with this tuition charge.
After you have completed the necessary loan requirements, your federal loans will disburse to your student account once your term registration becomes official, usually within the first two weeks of the term. Federal loans will be split evenly between all registered terms for the academic year. The amount of your federal loan will always be slightly more than the amount disbursed to your student account due to federal loan origination fees.
Private loan funds are received from your third-party lender and therefore the date the funds are sent to MIT is determined by your lender. Most private lenders will notify you that your funds have been sent to MIT.
We consider each financial aid application on a case-by-case basis within our general guidelines for awarding need-based financial aid. While we don’t negotiate financial aid or match another school’s offer, we are happy to discuss your particular situation.
If you decide to appeal your award, you should reach out to your financial aid counselor directly. Your counselor will go over your situation with you and may ask for supplemental information. We can't promise that we will be able to adjust your award, but we encourage you to talk with us as we may be able to recommend a financing strategy that supplements your award.You must request additional terms of aid if you will be enrolled beyond the standard number of terms required for an undergraduate degree. The standard number of terms is eight for students who entered as first-year students, and six terms for transfer students. You must submit the extended aid form as well as all financial aid materials by February 15.
Please note: Once you complete all of your undergraduate degree requirements and have been enrolled for the standard number of terms, you no longer qualify for an MIT Scholarship or federal financial aid as an undergraduate.
Returning students must submit a new waiver each academic year.
If you have any questions about this process, please contact Gallagher Student Health or call them directly at 844.333.1466.There are no penalties for late applications. However, financial aid applications must be received before the end of the academic year, in order to be considered for aid in that academic year. For most students, that is mid-May. For those only attending in the fall, you must submit your aid application by mid-December. If your application isn’t completed by that time, you will not be eligible to receive either MIT or federal financial aid for that academic year.
Your FAFSA will appear as “In review” (meaning it has not been processed) in your studentaid.gov account and no corrections can be made until it is processed. You will receive an email once it is fully processed, letting you know that your FAFSA information has been sent to MIT.
As of mid-March, MIT is receiving FAFSA information from the Department of Education. We are awaiting additional updates from the DOE before we can begin reviewing FAFSAs and hope to do so by the end of April.We know this is an important issue for many students, and we are actively working with IS&T and our outside vendors to make this change possible. Once implemented, a student’s preferred name will replace their legal name on items like the bill, financial aid award notices, and email communications. It can not replace the legal name on items like the FAFSA, loan promissory notes, or tax documents.
If your FAFSA appears as “In review” (meaning it has not been processed) in your studentaid.gov account, no corrections can be made until it is processed. You will receive an email once it is fully processed, letting you know that your FAFSA information has been sent to MIT.