To view monthly student account statements and make electronic payments, we strongly recommend that you use MITPAY, a secure online billing and payment system (see login links at right). By the 10th of any month in which there’s a new charge or credit on your account, SFS will send you and your authorized payer (if any) a courtesy e-mail reminder to check your statement and pay any balance due. If you choose not to use MITPAY, you may use one of the other options below.
Please note: MIT does not accept cash or credit card payments for student accounts.
The MIT Monthly Payment Plan administered by Tuition Management Systems (TMS), provides an affordable option for students and families to pay the bill in interest free monthly installments. Tuition and other expenses can be divided into smaller payments over each semester. You can use the plan to pay all or part of your educational expenses. The cost for the Monthly Payment Plan is a $70 semester enrollment fee or $85 for a yearly plan. Enrollment is fast and easy by visiting www.afford.com/mit or call toll-free 800-722-4867. Payments can be made directly to TMS by mail or on-line by check, money order, credit card (where available) or automatic ACH from checking or savings account at no additional cost.
You must enroll in the Monthly Payment Plan each academic year or by semester. If not enrolled in a payment plan, the fall semester payment is due in full August 1 and the spring semester is due in full January 1. Students and families have the option of paying the full amount due in August and January or choosing the Monthly Payment Plan. It is important to sign up for the plan before the due date to avoid late fees on your student account.
Before enrolling in the plan and calculating the plan amount, it is important to consider all semester charges: tuition and fees, housing, dining, and health insurance, minus any financial aid and outside scholarships.
If you choose to enroll in the yearly plan, one-half of the Total Plan Amount will be applied toward each of the academic terms by issuing an anticipated credit to your student account for this amount. Each month as payments are received, the credit for that term is reduced by the payment amount.
For commonly asked questions on how the payment plan works please visit www.afford.com/faq.html.
Outside Scholarship checks, checks from pre-paid tuition plans (such as the 529 plan) and checks sent by express mail to meet the payment deadline, mail with the top portion of your student account statement directly to:
Massachusetts Institute of Technology
Student Services Center, Room 11-120
77 Massachusetts Ave.
Cambridge, MA 02139-4307
To make a regular payment by check, send the top portion of your student account statement, which can be printed from MITPAY, and your check made payable to the Massachusetts Institute of Technology to:
Massachusetts Institute of Technology
P.O. Box 3972
Boston, MA 02241-3972
All wire transfers must be made in U.S. dollars. Wire transfer advice must include:
Step 1. Direct wire transfers to:
Bank of America NA
100 Federal Street
Boston, MA 02110
Step 2. Contact your Counselor for Customer Service after you send a wire to confirm the amount, the name of the sending organization and the date. Also contact your student account counselor if the student account does not reflect a wire transfer credit by the next statement. International wire transfers may take up to a month before the student account reflects the credit.
Massachusetts Institute of Technology (MIT) has partnered with peerTransfer to offer a streamlined and cost saving way to make international tuition payments. With this partnership, students and their families are offered excellent foreign exchange rates, the ability to make payments in home currency (in most cases) and save a significant amount of money, as compared to traditional bank fees and unfavorable foreign exchange rates. In addition, the posting of the payment into your MIT student account will be faster, you will be able to track your payment in peerTransfer’s process via a student dashboard and you will be notified via email when your payment is received by MIT. Go to: mit.peertransfer.com to begin the payment process. A dedicated multilingual peerTransfer customer support team is available 24 hours, 7 days a week to answer any of your questions.
Bring your check to the SFS Student Services Center in Room 11-120. This walk-in office is open Monday through Friday from 9 a.m. to 5 p.m., except Wednesday, when it opens at 10 a.m. Payments received after 3 p.m. are posted to your student account on the next business day.