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Update August 17:

To learn more about MIT’s changes to the fall 2020 cost of attendance as well as the Covid-era grant, please see our 2020 financial support page and our expanded FAQ page. You can also read more about the evolving policies and other key questions related to MIT’s COVID-19 response.

I’m planning to leave; what happens to my financial aid?

If a student receiving federal financial aid (except Federal Work-Study) completely withdraws from classes before completing 60% of the term, we are required to determine how much of the financial aid was earned up to the time of withdrawal. Any federal funds considered as unearned must be returned by MIT and/or the student to the federal government. This situation could result in the student owing aid funds to MIT, the government, or both.

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