If your financial aid exceeds your charges, or your account is overpaid, you may be eligible for a refund, available after registration, which can be used for your out-of-pocket expenses, such as books and supplies. You must sign-up for direct deposit in MITPAY before requesting these funds.
To be paid for employment at MIT you must also sign-up for Payroll Direct Deposit in Atlas. This direct deposit form is in a separate system from MITPAY and you must fill out both to receive both.
We send your credit balance to you through direct deposit. After you set-up direct deposit, you may either stop into our office to meet with your account counselor, or contact them by phone or email to initiate your direct deposit transfer.
Assuming you apply for your loan more than a month before the term, it typically posts to your student account two weeks after registration. The disbursement date notification you receive from your lender is not the same as the loan posting date (to your student account).
The financial aid office awards federal loan funding to graduate students who qualify. Graduate Fellowships, Teaching Assistantships and Research Assistantships are awarded by department, contact your department administrator to inquire.