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Understand your bill: Credits and charges

If you owe money, your MITPAY account status will show a balance. If your account is overpaid your account status will show a credit—indicated by a negative balance—and you may be eligible for a refund.

Credits

There are two types of financial aid credits on your student account—an anticipated credit and an actual credit. Anticipated credits are funds you expect to receive that have not been applied to your account. Actual credits are funds that have already been applied to your account. Both reduce the balance of your bill.

Anticipated credits that have not been received by the 15th day of the term are removed from your account balance. If this happens, you should contact customer service for next steps on how to receive the aid.

Charges

The charges on your student account originate from different MIT departments. We are responsible for billing you for those charges. So if you need more information about a specific charge, you should contact that department directly.

Only the department who made the original charge can adjust charges. Department contacts are included on your bill in MITPAY.

If you want to formally dispute a charge, you must contact customer service in writing within 60 days of the date of the statement on which the charge first appeared.