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<p>The ideology underpinning Student Financial Services is that no admitted student should have to turn down MIT because they cannot afford to go. Yes, it is likely to hurt to afford it, and yes, SFS may calculate what the family can afford differently than the family can, however, if you are genuinely unable to afford MIT based on your award package, then you really must talk to SFS. This is particularly true if either:
- Your family financial circumstances are quite complex, particularly with international students
- Your financial aid award is substantially different from what you were expecting based on the indicative financial aid calculator on the SFS website.
- Your income last year is not indicative of your income next year (be that due to one time windfalls, or upcoming changes in a family’s financial circumstances.</p>
<p>SFS do make mistakes, although not often. Keep in mind that they need to turn around aid packages for 20,000 students in about 6 weeks. Now MIT will not negotiate financial aid offers nor will they match another school’s offer, but they are very willing to discuss with you your circumstances, particularly if you think you cannot afford to go.</p>
<p>Students are assigned to a financial aid counselor based on name. See [MIT</a> - Student Financial Services](<a href=“MIT Student Financial Services”>MIT Student Financial Services). If youre appealing your financial aid award, talk first to your financial aid counselor. After this initial conversation, SFS may ask you to complete a supplemental form such as a Parents Estimated Annual Year Income Statement or a Monthly Cash Flow Statement.</p>
<p>Basically, if you can convince them that they got it wrong (which does not happen often, but does happen), then they are more than willing to adjust the financial aid award.</p>