How to pay
We make paying for your education simple to understand.
table of contents
Understanding your bill
Most term charges such as tuition, student life fees, health insurance, on-campus housing, and meal plans 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
Percentage of undergraduates who earned wages from MIT and/or Federal Work Study employment in 2020–2021.
Ways to pay
The number of different payment options we offer.
Average student loan debt for graduates of the Class of 2021.
Key terms for billing & repayment
- 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.