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by the numbers

Total Payments

$770.5M

The total amount of money our office processes annually on behalf of our students.

Total people

13,612

The number of students we helped pay for their education in 2017.

Pay Online

86%

Percentage of payments made through MITPAY, our preferred electronic payment system.

table of contents

Understanding your bill

Most term charges such as tuition, student life, health insurance, on-campus housing, and meal plans appear on the first bill of the term in July.

Paying your bill

We do our best to make it easy for you and your family to pay your bill. We offer a number of different schedules, available through several means of payment.

Repay your loan

Exit counseling will help you understand what you owe, your loan repayment rights and responsibilities, and your repayment options.

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
A person, most often a parent or spouse, who is designated by an MIT student as being allowed to view 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.
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