If you’re graduating in the spring, your last bill for the spring term will be posted on your MITPAY monthly statement by May 9. You must pay that amount in full – plus any charges that accrue later in May (check on WebSIS for daily account updates) – by May 24, or you will be put on degree hold. This means you will not receive your diploma or be allowed to participate in Commencement exercises. Once your account is paid in full, you may be added to the degree list for a later term as a non-registered degree candidate.
If you still owe money after Commencement, SFS will keep sending e-mail reminders to your mit.edu e-mail address until it’s deactivated. At that point, we’ll send paper bills to your home address and take other steps (see “What will happen?” below).
If you leave school before graduation for any reason (medical withdrawal, leave of absence, required withdrawal, etc.), even if you plan to return to MIT, you are still responsible for paying the full amount due on your MITPAY statement, or making satisfactory payment arrangements with your Counselor for Customer Service.
If you leave MIT for a period of time and return, you will not be allowed to re-enroll or register until you have paid any balance due on your student account. Also, if you have student loans, you should check the repayment conditions, as lenders require you to make payments when you are not in school after the grace period expires, even if you have not graduated.
You can find more information for undergraduates on leaving and returning to MIT in the Academic Guide for Undergraduates and Their Advisors.
After you graduate or leave MIT for any reason and you have an unpaid balance on your student account for more than 120 days, you will be charged late payment fees (1.5% per month). You also may be reported to credit reporting agencies and/or placed with an outside collection agency and charged collection fees (up to 50% per payment).