UNDERSTANDING YOUR BILL

MITPAY is a static, once-a-month snapshot of your student account. If you or your family makes a payment, it isn't reflected on MITPAY until your next monthly statement. However, students (though not parents) may check up-to-date balances and payments any time on WebSIS – just log onto the financial record section of WebSIS and click on “Current Account Activity.”

Below is a sample MITPAY statement. Roll your cursor over different areas for explanations of what they mean.

For a printable brochure on "Viewing and Understanding Your Bill," click here.

Understanding your bill

Your payment must be received by this date to avoid late-payment charges.

This section gives details of new charges with phone numbers to call if you have questions about a charge.

The late fee is 1.5% of "Previous Balance" per month.

This figure shows credits to your account that are expected but not yet received, including loan and scholarship funds.

This is what you must pay before the first day of next month. If you signed up for the MIT Monthly Payment Plan, your "Amount Due" is divided into several monthly "Mimumum Payments."

Click here to print a PDF copy of your statement with instructions on how to pay by mail or wire transfer.

This dropdown menu lets you view past statements or make an electronic payment.