Note: We are currently updating our financial aid calculators to incorporate MIT’s newly announced financial aid policies.

How billing works

Once you accept an offer of admission from MIT, we set up your student account in MITPay.

This is where you go to see your semester bill and where you check back to see all charges and credits throughout the year. All MIT students are set up with an account in MITPay.

Billing schedule and accessing your bill

Your semester bill is available in mid-July for the fall term, mid-December for the spring term, and mid-June for the summer term. You can view your bill in MITPay, which all students are automatically granted access to through the WebSIS student portal. Authorized users⁠01 An <a href="https://sfs.mit.edu/how-to-pay/paying-your-bill/authorize-users/">authorized user</a> is a person, most often a parent or spouse, who is designated by an MIT student as being allowed to view their monthly bill and make payments using MITPay.   must be designated by their student before they have access to view and pay a bill.

When a new statement is available you’ll receive an email notification. Payments are due by the 1st of the following month and you can pay securely online through MITPay, by Flywire, or by check.

What’s on the bill and when

Most term charges such as tuition, the Student Health Insurance Plan, and on-campus undergraduate housing appear on the first bill of the term. Other charges such as meal plans, on-campus graduate housing, TechCASH,⁠02 A spending program for MIT students, employees, and affiliates, where participants deposit money into their TechCASH account and then use their MIT ID to make purchases on and off campus.   parking, MBTA passes, and library fines are billed monthly as they are incurred. Updated statements are posted to your account each month, but you can view your real-time balance at any time in MITPay.

How financial aid is disbursed

If you receive financial aid (scholarships, grants, tuition awards, fellowships, and/or student loans), we apply it equally across the number of terms in your academic year. For most students the academic year is two semesters: fall and spring. However, for some graduate students, it may be three semesters: fall, spring, and summer.

How Veterans benefits are disbursed

Veterans tuition benefits are applied to your MITSIS account when we receive funds from the VA. This usually occurs 2–3 months after the start of the semester. In the interim, we apply a credit of anticipated aid to your bill—equivalent to the amount of your VA tuition benefits—so that your balance is accurate throughout the term.

If you are expecting VA tuition benefits but don’t see anticipated aid on your bill, it’s likely that we have yet to receive your SFS Veterans questionnaire for the semester. We send the questionnaire to your MIT email address before the start of each term, and it must be completed every semester that you are enrolled.

If you see anticipated aid on your bill, but it differs from the amount you expected, please contact us at va@mit.edu.

  1. An authorized user is a person, most often a parent or spouse, who is designated by an MIT student as being allowed to view their monthly bill and make payments using MITPay.⁠ ↑
  2. A spending program for MIT students, employees, and affiliates, where participants deposit money into their TechCASH account and then use their MIT ID to make purchases on and off campus.⁠ ↑