MIT Student Financial Services Loans

MIT Technology Loan

A low-interest undergraduate student loan for international students awarded by MIT on the basis of financial need. Often referred to as a Tech Loan. Please refer to our guidance on Private Education Loans before applying for a non-federal student loan.

How to Apply

Applying for the first time? Complete steps 1-5 before the start of the academic year to receive credit on your fall semester bill. Applications are accepted throughout the academic year.

Reapplying? Complete steps 1-2 before the start of the academic year to receive credit on your fall semester bill. Applications are accepted throughout the academic year.

  • Step 1 – Complete MIT’s financial aid application process. The deadline is February 15 for freshmen and April 15 for other undergraduates. The MIT Technology Loan will only be awarded at your request, which may be done on our undergraduate loan request form.
  • Step 2 – The loan request will be included in a revised award letter. If the loan was awarded without a co-signer, you may skip step 3.
  • Step 3 –When you receive your revised award letter we will request the name and address of your co-signer so that we can mail them their application (you may also give us this information when you make the loan request in the first place).  If you prefer, you can come in to Student Financial Services to pick one up and mail it yourself.
  • Step 4 – An email will be sent with an Application and Solicitation document with instructions to complete a Self-Certification Form for the MIT Technology Loan and Private Education Loans. Upon receipt of the completed self-certification form, you will receive two additional disclosures and you will need to sign the MIT Technology Loan Promissory Note. The funds will not be released to your student account until after a three day cancellation waiting period.

About This Loan

Eligibility requirements
  • International undergraduates only
  • Effective 5/12/11, no co-signer required for loans up to $3,000
  • For loan awards over $3,000, a creditworthy co-signer is required.
  • Enrolled at least half-time in a degree or certificate program
  • Not in default on prior education loan
  • Making satisfactory academic progress
Maximum annual loan
  • $6,000
Aggregate limit
  • $24,000
Interest rate
  • 7.0 % fixed
  • No interest until repayment begins
  • None
  • May be deferred while in graduate or professional school
  • Begins 9 months after graduation or withdrawal
  • Minimum monthly payment: $50
  • Maximum repayment period: 10 years
Important Sites

Loan exit counseling
If you borrowed a Federal Direct Stafford Loan, Federal Perkins Loan or Federal Direct Graduate PLUS Loan, you are required by federal law and MIT policy complete an exit interview online before graduation. If you borrowed an MIT Technology Loan, contact your loan counselor to schedule an exit interview. Required reading: the SFS loan exit counseling guide.

Loan entrance counseling
For Federal Direct Loans visit to complete loan entrance counseling and sign a master promissory note. For Federal Perkins Loans visit iPROMise to complete loan counseling and sign a master promissory note.

Campus Partners
Campus Partners handles billing and payment for Federal Perkins Loans and MIT Technology Loans. handles billing and payment for Federal Direct Loans and Graduate PLUS Loans.

Loan payment calculator

Estimate your loan payments.

Compare loans

These two printable charts can help you compare loans available to undergraduates and their families, and loans available to graduate students.

View Undergraduate loans

View Graduate loans