Graduate Policies & Procedures

Loans

Graduate students who have pursued available grants, fellowships, and assistantships may also apply for student loans. You may apply for a  need-based Federal Direct Student Loan by applying for MIT financial aid. There are also a number of alternative loan programs for graduate students that do not require financial need.

Graduate students who are not US citizens or permanent residents are not eligible for state or federally guaranteed loans, nor are they eligible for MIT loans during the first year of residence. Thus, foreign nationals must be prepared to meet their expenses for the first year at MIT without recourse to loans from the Institute and without expectation that in subsequent years loans may be available.

Special students (individuals who are not admitted to a graduate degree program) may apply to MIT for loan funds but MIT has no commitment to provide assistance. A Federal Direct Loan may be approved when the student is enrolled for 18 or more units of prerequisite courses leading to enrollment in a graduate program. Special graduate students are not eligible for MIT scholarships, fellowships, grants, or loans, or for on campus employment funded under the Federal Work-Study Program.

No graduate students are allowed to borrow from the MIT Technology Loan Program. Graduate students approved for nonresident doctoral thesis research status are considered enrolled full-time and may apply for federal and private loans based on the eligibility criteria for graduate students.

Student loan recipients are required to undergo loan entrance counseling before loan proceeds can be credited to the student account. Loan counseling is available at the SFS Student Services Center and on WebSIS (login required). Student loan recipients are also required to attend a loan exit interview in the SFS Student Services Center prior to withdrawal or graduation from MIT.

Specific information on eligibility for loan funds is available at the Student Services Center.

If you have prior student loans from MIT or other schools you attended and you receive notification from your lender that your loan is entering repayment or past due status, contact your lender immediately to arrange for deferment of payment(s). Verification of your enrollment status may be obtained from SFS.