How to pay
We make paying for your education simple to understand.
Once you accept an offer of admission from MIT, we set up a student account in your name for charges (such as tuition, fees, on-campus housing, and meal plans) and for credits (such as scholarships, loans, and family payments).
table of contents
Understanding your bill
Most term charges such as tuition, student life fees, health insurance, and on-campus housing appear on the first bill of the semester in July and December.
Paying your bill
We do our best to make it easy for you and your family to pay your bill. We are here to help you get set up and make sure you have a payment plan that works for you.
Repaying your loan
When you leave MIT, we are here to help you understand what you owe, your loan repayment rights and responsibilities, and your repayment options.
by the numbers
Work opportunities
76%
Percentage of undergraduates who earned wages from MIT and/or Federal Work Study employment in 2023–2024.
Ways to pay
4
The number of different payment options we offer.
Less debt
$29,024
Average student loan debt for graduates of the Class of 2024.
Key terms for billing & repayment
- MITPay
- MITPay is our online payment system where you can view and pay your bill. An account is automatically created for every MIT student.
- Authorized user
- An authorized user is a person—most often a family member, parent, or spouse—who is designated by a student to have access to their monthly bill and make payments using MITPay.
- Monthly Payment Plan
- Allows students and their authorized users to pay their bill in regular monthly installments. The plan makes paying a bit easier with five payments per term instead of one lump sum.