The MIT Monthly Payment Plan allows you and your family to pay your term bill in five interest-fee monthly installments over the course of the term, as opposed to one lump sum.
You can also make a partial lump sum payment and pay the remaining balance through the payment plan.
How to enroll
You (or your authorized user) can enroll in the MIT Monthly Payment Plan online through MITPay.
There is an enrollment fee of $35 per term and you must re-enroll each term.
How to pay
Once you are enrolled, you or your authorized user will receive a monthly reminder before the next installment is due. You can choose to pay manually or setup automatic payments.
Payments are made directly through MITPay via ACH transfer from your bank.
The payment plan automatically adjusts in the event new charges are added, ensuring that your balance is paid in full and on time.