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FAQ / MITPay

Who do I contact about one of the charges on my bill?

The charges on your student account originate from different MIT departments. SFS is responsible for billing you for those charges. For a question about a specific charge please contact the MIT department where the

Glossary

Light load registration

A term used at MIT to refer to registering for fewer than 32 units.

FAQ / MITPay

How do I access my credit balance?

We send your credit balance to you through direct deposit. After you set up direct deposit, you may either stop in to meet with your student services counselor, or contact us by phone or email to initiate your direct

FAQ / Graduate students

Can I get funding help for my graduate study abroad?

The level of support for MIT graduate students to study abroad varies ... international grants to study and conduct research abroad in a wide variety of fields. For information on funding opportunities for graduate students

Glossary

Credit score

A measure of creditworthiness based on your financial history. It is most often represented as a three-digit number ranging from 300 to 900, and is sometimes called a FICO score. You can develop a good credit

Glossary

Disbursement

Payment of financial aid to a student’s account by a school.

FAQ / Applying for aid

How do I apply for aid if I am an international student living in the U.S.?

International students apply for aid using the same process as everyone else. MIT will meet your demonstrated financial need, the same as we do for domestic students. If you are an international student living in

Glossary

Independent

As a financial term this refers to an individual who does not rely on another person, usually parent(s), for financial support.

Glossary

Off-campus employment

A term used most often in connection with student employment, which refers to working for any employer other than MIT.

Glossary

On-campus employment

A term used most often in connection with student employment, which refers to working for MIT.

Glossary

Capitalization

The addition of unpaid interest to the principal balance of a loan. Compounding is another term used for capitalization.

Glossary

Dependent

As a financial term this refers to an individual who relies on another person, usually parent(s), for financial support.

Glossary

Federal Methodology (FM)

The system used to determine a student’s eligibility for federal student financial aid.

FAQ / FAFSA and FAFSA Simplification

My FAFSA reflects that I have provisional independent status, what does that mean?

documentation. Once complete, your dependency override request will be reviewed by ... be granted provisional independent status. You will be able to complete ... that you will be granted independent status. Your financial aid counselor

FAQ / Financial aid

When do we pay the parent and student contributions to MIT?

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 ... -campus housing and meal plans. You use your parent and student contributions to

Glossary

Estimated cost of attendance

The estimated cost of attendance is a budget that we use for every ... attending MIT for one academic year, and it incorporates costs paid to the school such as tuition and fees, as well as costs paid to others for things

Glossary

Interest

A charge for a loan, usually a percentage of the amount loaned.

FAQ / Support resources

Am I eligible for an internet subsidy from the Federal Communications Commission?

The Affordable Connectivity Program (ACP) is a U.S. government program run by the Federal Communications Commission that helps many low-income households pay for internet service. There are many groups that may qualify

Glossary

TechCASH

A spending program for MIT students, employees, and affiliates. Participants deposit money into their TechCASH account and then use their MIT ID to make purchases on campus and with a few off-campus vendors.

Glossary

Budget

The estimated price to attend a college or university for one year. The budget is used to determine financial aid eligibility. It includes tuition, fees, room, board, books, supplies, personal, and travel expenses.