MIT Student Financial Services Loans

CitiBank Custom Program for MIT International Students

A credit-based alternative loan for U.S and international graduate and professional students that does not require a co-signer. Graduate students who are enrolled in the Sloan School of Management and have a U.S. co-signer may be eligible for the Custom Program for Sloan School of Management Students.

How to Apply

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

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


About This Loan

Eligibility requirements
  • U.S. or international graduate students must have a positive credit history
  • Must be enrolled (full-time, half-time or less than half-time)
Maximum annual loan
  • Price of education minus any financial aid as certified by MIT
  • $1,000 minimum for new borrowers and those who have previously borrowed less than $1,000
Aggregate limit
  • None
Interest rate
  • Variable interest rate based on the U.S. prime rate plus 5%, adjusted quarterly
  • If interest is not paid while in school, it is capitalized once the borrower begins repayment
Fees
  • None
Repayment
  • Begins 6 months after graduation or withdrawal from school
  • Flexible repayment terms
  • Up to 20 years to repay, plus any periods of deferment or forbearance
Important Sites

Loan entrance counseling
Online counseling via WebSIS is required for all first-time borrowers of Federal Direct Loans, Federal Perkins Loans and MIT Technology Loan.

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

Direct Loan Servicing Ctr.
The DLSC handles billing and payment for Federal Direct Loans and Graduate PLUS Loans.

Loan payment calculator
Estimate your loan payments.

Loan exit counseling
If you borrowed Federal Direct Stafford Loans and/or Perkins loans, you are required by federal law and MIT policy to make an appointment for an exit interview with your loan counselor before graduation. Click here for contact information. Required reading: the SFS loan exit counseling guide.
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
 
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