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 deposit transfer.
You can learn more about how to request a refund here.
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.
MITPay and Atlas are two unique systems; you must fill out both direct deposit forms to receive their corresponding services.
You may be eligible to claim federal income tax credits for qualified tuition and related expenses for yourself, dependent child, or other qualified family members.
Form 1098-T is an informational tax document prepared by colleges and universities to report payments of qualified tuition and related expenses, as well as scholarships and grants that are paid out during the calendar year. We issue the 1098-T form only to degree-seeking students whose scholarships and grants do not exceed qualified tuition and related expenses for the calendar year.
For more information on education tax incentives, including the American Opportunity Tax Credit and Lifetime Learning Credit, we recommend that you consult a qualified tax advisor. You can also refer to IRS.gov for information on tax benefits for education or by calling their help line at 800.829.1040.
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 charge originated. The department contact information is listed on your MITPay statement on the same line as the charge.
Your department processes your teaching or research assistant award. Once it has been processed it will be reflected on MITPay. Please contact your department with further questions about processing.