MIT Student Financial Services Loans

Get a loan

There are two kinds of education loans: loans based on financial need and loans that are not. Always check out need-based loan programs first, because they have lower interest rates and there’s no interest charged while you’re still in school.

Loans based on need are available to undergraduate, graduate and professional students who apply for financial aid and meet the financial need guidelines. Either the federal government or MIT lends you the money. You do not pay the loan back until you leave school.

Loans not based on need are available to all students as well as parents of undergraduate students. MIT offers various loan programs for you to consider, including federal and private loans. If you borrow as a student, you don’t have to pay the loans back until you leave school, but if your parents borrow, they start repaying right away. 

Information on specific loans varies according to a student’s program, so select which category you fall into:

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