A federal low-interest student loan available to undergraduates, graduate and professional students who do not qualify for a maximum Federal Direct Stafford Subsidized Loan.
Applying for the first time? Complete steps 1-4 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 1-3 before the start of the academic year to receive credit on your fall semester bill. Applications are accepted throughout the academic year.
After you complete all requirements, your loan(s) will be disbursed directly to your student account. If you are not eligible for a federal loan, or have exhausted your federal eligibility, you may want to consider a private loan. Please visit http://web.mit.edu/sfs/loans/private_loans.html to research available private loans and the factors to consider when making your choice.
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Undergraduates who are independent under federal guidelines or whose parents are ineligible for a Federal Direct PLUS Loan may borrow an additional amounts: $4,000 (freshmen and sophomores) or $5,000 (juniors and seniors).
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 StudentLoans.gov 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 handles billing and payment for Federal Perkins Loans and MIT Technology Loans.
StudentLoans.gov handles billing and payment for Federal Direct Loans and Graduate PLUS Loans.
Loan payment calculator
Estimate your loan payments.