MIT Student Financial Services Loans

CitiBank CitiAssist Loan

A credit-based alternative loan for undergraduate, graduate and professional 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.

  • Step 1 – Apply and sign for your loan online at Citibank. You will receive an immediate credit response and chance to review the interest rate before you sign for the loan.


About This Loan

Eligibility requirements
  • U.S. students must have positive credit history or apply with a creditworthy co-signer
  • International students must be at least 18 years old and have a co-signer who is a U.S. citizen or permanent resident with a valid Social Security number
  • Enrolled (full-time, half-time or less than half-time)
Maximum annual loan
  • Cost 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
  • Graduate students: $150,000
Interest rate
  • Variable interest rates as low as prime rate +1.00% to prime rate +7.50%
  • Interest rate charged is based on credit score of applicant and co-signer, if any
  • If interest is not paid while in school, it is capitalized once the borrower begins repayment
Fees
  • Origination fees from 0.00% to 6.00%
Repayment
  • Begins 6 months after graduation or withdrawal from school
  • Flexible repayment terms
  • Undergraduates have up to 12 years to repay, plus any periods of deferment or forbearance
  • Graduate students have up to 15 years to repay, plus any periods of deferment or forbearance
Important Sites

Loan entrance counseling
Online counseling via WebSIS (Kerberos ID and MIT Certificate needed) 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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