MIT Student Financial Services Bills


Anticipated and actual financial aid credits

There are two types of financial aid credits on your student account – an anticipated credit and an actual credit. An anticipated credit is money you expect but which hasn’t yet been received by MIT. An actual credit is money that’s been disbursed to your student account. Both anticipated and actual credits reduce the balance due on your student account.

Since we can’t disburse financial aid to your student account until you register, we post an anticipated credit to your account for the first bill of each term as a convenience for you. We remove these anticipated credits 15 days after you register for the summer, fall or spring terms or when we receive the actual payments, whichever is earlier.

Financial aid distribution to the student account

If you are awarded financial aid – including scholarships, grants, tuition awards and loans – we ordinarily split the financial aid amount equally across the number of terms in the academic year. For most students, this is the traditional two terms (fall and spring), but for a few graduate students with early enrollment in the summer, it may be three terms. Your billed charges may not be equally distributed, so you may need to plan the impact of these differences.

There’s one exception: If you borrow from an external source such as CitiBank, your loan may be disbursed all at once, and that disbursement may result in a refund if the credits exceed the charges.

If you don’t see your anticipated credit

If there’s no expected anticipated credit on your account, it’s most often because you didn’t apply for financial aid on time. It takes time to process a financial aid application, especially in cases involving student loans, so make sure you meet all the deadlines. We won’t remove any late charges on your student account simply because you didn’t file for financial aid on time. You can check the status of your financial aid application any time on WebSIS or by contacting your financial aid counselor.

If you’re an undergraduate and are expecting private scholarships, make sure you complete the Outside Award Reply Form to receive your anticipated credits.

If you’re graduate student and are expecting a tuition award as a research assistantship or teaching assistantship but it hasn’t appeared on your statement, it’s usually because your department didn’t process your award. Please contact your department directly.

Remember that wages from student employment, including from the Federal Work-Study program, are never credited to your student account. If you work on campus or under the Federal Work-Study program (either on campus or off campus), you’re paid weekly through MIT’s payroll system by your employer based on the number of hours you work.

If your anticipated credit doesn't become an actual credit

If we remove an anticipated credit and don’t replace it with an actual credit, it’s because you have to take some additional action before we can disburse the financial aid to your account. This is often the case with a student loan. It may be because you have not done your entrance loan counseling as a new student, or because you haven’t signed your promissory note.

We remove anticipated credits for any private scholarships that we don’t receive in a timely manner.

It’s your responsibility to make sure that all anticipated credits become actual credits, so contact us if this doesn’t happen.

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