Frequently Asked Questions

Current students can view their offer in our Online Financial Aid System. Prospective first-year students can access their offer through the MIT Application Portal until mid-May, after this time it can be viewed in our Online Financial Aid System.

You should check out the Apply for aid section of our website! It will walk you through the general process step by step for domestic or international applicants. Remember, financial aid application deadlines vary depending on if you are an Early or Regular Action applicant, or a continuing student.

We take your travel expenses into account when determining your financial aid offer. 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 offering 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 offer, 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 you have your financial aid offer, 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 financial aid decision. If we adjust your aid, we will notify you and offer counseling so that you 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 offer 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.

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.

Students submit insurance waivers each year through MIT's enrollment partner Academic Health Plans. Directions on how to submit a waiver can be found on their website. 

Returning students must submit a new waiver each academic year.

If you have any questions about this process, please contact Academic Health Plans or call them directly at  855.451.3550.

We understand that life happens and sometimes deadlines are missed. There is no need to ask for an extension—just submit your application as quickly as possible. Late applicants will receive their financial aid decision later than those who submit by the deadline, but we try to review all applications as quickly as possible.

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.

Students who believe that it is impossible to provide parental information may submit the Noncustodial Profile Waiver Request form through the College Board’s secure IDOC platform. Waivers are reviewed once a student has been admitted to the Institute, along with the rest of your financial aid application. Please note that the Noncustodial Profile will remain in the financial aid requirements checklist as a required document until your waiver request is reviewed.

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.

We know this is an important issue for many students, and we are actively working with the MIT Information Systems &Technology team, as well as 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 notices, and email communications. It can not replace the legal name on items like the FAFSA, loan promissory notes, or tax documents.

Registering for less than a full-time course load is called a light load. With the approval of your faculty advisor, undergraduates may carry a light load and are charged per unit of registration, including those taken as a listener. Financial aid eligibility is automatically updated based on your registration status. Visit our light load webpage to learn how tuition and/or financial aid are impacted if you register for 18–35 units, or 17 units or fewer.

You should reach out to your financial aid counselor first so they can let you know what we will need for your specific situation. This will most likely include your family’s most recent tax returns, W2/1099 statements, and all schedules and/or Estimated Income Statement. Please note: we cannot consider income changes for a year that will end after the academic year for which you are receiving financial aid. We can also not consider situations that include, but are not limited to, high consumer debt and asset value changes.

You should reach out to your financial aid counselor first so they can let you know what we will need for your specific situation. MIT may recalculate financial aid offers if there is a change in number of students attending college in your household or change in number of people in your household. Please complete the household verification worksheet, which is available on IDOC.

You should reach out to your financial aid counselor first so they can let you know what we will need for your specific situation. You will need to collect documentation of out-of-pocket medical expenses paid by your family after insurance was applied and share them with the MIT financial aid team.

MIT adheres to the currency rate set by the College Board’s CSS Profile. On June 15, before the start of the academic year, we automatically review currency rates for changes. If your country’s currency experienced a devaluation of 20% or more, we will automatically adjust your financial aid offer. We are unable to adjust currency rates outside of this policy, except in extreme circumstances. Please contact your financial aid counselor if you need to discuss your particular circumstances.