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Update January 4: Have questions about financial aid? Check out the undergrad financial aid section of our site. Learn more about the 2020–2021 academic year by visiting our FAQ page, financial support page for undergrads, or MIT’s COVID-19 response site.

Paying your bill: Monthly payment plan

We offer a monthly payment plan, which allows students and families to pay the term bill in monthly installments, interest free.

For the 2020–21 academic year, the MIT Monthly Payment Plan offers the option of spreading your term bill over a maximum of five payments for the fall term due September–January, and a maximum of four payments for the spring term, February–May.

Students and authorized users may enroll online through MITPay. Students can set up a parent, spouse, or other family member as an authorized user, allowing them to make payments.

The payment plan automatically adjusts in the event new charges are added, ensuring that your balance is paid in full and on time. Payments are made directly through MITPay, and the student or authorized user will receive a monthly reminder before the next installment is due.

There is an enrollment fee of $35 per term and you must re-enroll each term.