MIT Student Financial Services Financial Aid

After you’re awarded aid

You can track the status of your financial aid application by checking MIT Online Financial Aid System.

Finalizing your award

Ordinarily, getting your financial aid award notification is not the end of the application process. You need to accept your financial aid award by following additional steps. If you don’t do this, we can’t disburse the funds to your student account and you may receive a late charge for not paying your bill on time.

The steps for finalizing your financial aid award are different depending on:

  • Your status (undergraduate or graduate/professional student)
  • Types of aid you're offered (scholarship, research assistantship, teaching assistantship, fellowship, loan, job)
  • Sources of aid (MIT, federal, state, private)

Overawards

If we offer you need-based financial aid, you must keep us informed of all your other sources of financial aid so we can make sure you're not overawarded. Any need-based financial aid we offer to any undergraduate, graduate or professional student is subject to change due to the receipt of additional need- or merit-based financial aid.

If you are overawarded, we reduce your financial aid package so your total need-based financial aid does not exceed your financial need and so your total need- and merit-based financial aid does not exceed your budget. It’s possible for your financial aid award to be cancelled or adjusted after it is disbursed to your student account. We’ll notify you if we need to adjust your financial aid package.

The student budgets we use are listed in the undergraduate and graduate student expenses sections of "How Will I Afford an MIT Education?" on this web site.

Important Sites Free Application for Federal Student Aid (FAFSA)
When you complete the FAFSA online, be sure that you and your parents obtain PIN numbers to sign electronically or submit the signature page as instructed. MIT's FAFSA Code is 002178.

CSS Profile
Apply online at the College Board website. MIT's CSS code is 3514. MIT receives your profile data electronically from CSS so you do not send copies or printouts of your application to MIT.

Click here for blogs by Admissions staff and students.
How will I afford an MIT education?

View  Your estimated expense and ways to finance it

View  Stories and actual financial aid packages for other MIT students

 
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