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Financial aid background
SAMPLE AWARD LETTER
Below is a sample financial aid award letter, which is sent to students who were admitted to MIT and applied for financial aid. Roll over the sections to see information about what they mean. For more information, you and your parents should also read "Financing Your MIT Education" , a booklet that came in the mail with the award letter and other materials.
March 17, 2011
Mr. Samuel Sample
123 Sample St.
Sampleville, MA 99999
Dear Samuel:
Congratulations on your admission to MIT. We in Student Financial Aid look forward to working with you and your family over the next four years.
We have reviewed your application for financial aid for the 2011-2012 academic year and are pleased to make this tentative offer of financial aid assistance based on a careful analysis of the information you provided.
Your need was calculated using the Budget and Resources detailed below:
| Budget Category | Amount |
|---|---|
| Tuition and fees | 40,732 |
| Room | 7,275 |
| Meals | 4,500 |
| Books and personal | 2,763 |
| Travel | 400 |
| --------- | |
| Budget totals | 55,670 |
| Resources | Amount |
|---|---|
| Parental contribution | 9,760 |
| Student contribution | 1,900 |
| --------- | |
| Total Resources | 11,660 |
| Need (Budget - Resources) | 44,010 |
To meet your need, MIT offers you the following assistance:
| Source: | Fall | Spring | Total |
|---|---|---|---|
| MIT Scholarship | 19,005 | 19,005 | 38,010 |
| Work Eligibility | 1,500 | 1,500 | 3,000 |
| Federal Loan Eligibility | 1,500 | 1,500 | 3,000 |
| -------- | -------- | -------- |
| Total Awards: | 22,005 | 22,005 | 44,010 |
The above financial aid award is tentative pending receipt of the following items:
MIT Student Information Review Form
As an MIT Scholarship recipient, you must complete the Student Information Review Form before your scholarship can be credited to your student account. The online form will be available on WebSIS at student.mit.edu on or after May 15. Click on For Students and go under the Financial Records section to access the form. You must have a current valid certificate on your computer in order to access the form.
The Federal Loan Eligibility is a suggested amount only. You may be eligible for more loan depending upon your individual circumstances. Once you decide the amount you wish to borrow or if you have questions about your maximum loan eligibility, send an email to getaloan@mit.edu after the May 1 reply date. When the actual loan funds are assigned, follow the instructions given to complete the online loan counseling and sign the promissory note(s).
Most MIT students work while in school to help cover the cost of books and personal expenses. You are encouraged to earn a portion of your self-help but are not assigned a job nor required to work a certain numbers of hours per week. If you plan to work on campus, be sure to bring your original identification documents in order to complete the government's required I-9 form if you have not already done so.
Please feel free to contact Student Fnancial Aid at (617) 253-4971 with any questions regarding your financial aid award or visit our web site at http://web.mit.edu/sfs.
