MIT Student Financial Services Loans

Undergraduate Student and Parent Loans

Either you or your parents can borrow an education loan, but there are different programs for students and parents. If your family wants to borrow, start by applying for financial aid, since the most affordable loans are student loans based on need. Federal loans are restricted to U.S. citizens or permanent residents, but other loan programs are not.

Student loans based on need

Your family has to apply for financial aid and meet the financial need guidelines for you to receive one of these loans.    

Student loans not based on need

You have to apply for these loans, but there are no financial need guidelines to qualify.

Parent loans

A parent loan is a great way for a family to spread education expenses over time so the amount paid each month is more manageable. Parents are eligible to borrow up to the price of education minus any student financial aid, including student loans. In addition to loans from private lenders, parents may consider:

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