Question About Bill

Colleges and Universities A-Z Massachusetts Institute of Technology
1

<p>My daughter, who will be a freshman this fall, is away, without access to the internet, so I am taking care of paperwork for her. When I prepared to pay her bill today (I am an authorized payer), I noticed that the charges are all for FALL 2007. I telephoned an MIT financial services office and was told that this is nothing to worry about. </p>

<p>Is that true? Do other people have that on their bills? If not, does anyone have any suggestions about how to correct this? </p>

<p>I know my daughter is planning to attend this fall and has done all the necessary paperword, i.e. housing forms, FPOP, HASS registration, but now I am concerned that someone at MIT is confused.</p>

2

<p>Yes, ours reads "FALL 2007" also, it's normal. The charges <em>are</em> for the upcoming fall semester, which ends at the start of 2007 (and it's the 2006-2007 school year), so I think that's just their convention. Our bill in July last year (2005) for my son's freshman year read "FALL 2006" (and in Dec. it read "SPRING 2006") so they're being consistent anyway. Don't worry, that just seems to be the way they indicate the school year on the account.</p>

3

<p>Thanks Mootmom. What a relief! My daughter took care of everything else before she went away, so I was dreading getting involved with this.</p>

4

<p>Aww, my mom isn't too excited about doing this either... you're not alone on that! :)</p>

5

<p>hey so when is our bill due? what happens with scholarships etc?</p>

6

<p>Scholarships don't get figured until the next billing cycle. MITPAY instructed users to look at their total financial aid package amount for the fall term, and subtract that from how much the bill was for (I think $20,200 for everyone). This will tell you how much you owe.</p>

<p>-Jared</p>

7

<p>And if your financial aid exceeds that $20,200, you don't need to pay anything. :D</p>

8

<p>August 1st is the deadline for "Fall Term Tuition Payment". Did anybody pay yet? Btw, is there anybody whose scholarship covers the insurance?</p>

9

<p>I'm pretty sure my scholarship covers insurance. Which scholarship are you referring to?</p>

10

<p>@vu<em>preuss</em>06: Sorry, the insurance I mentioned is the MIT Student Extended Insurance Plan.
Anyway, did anybody make the tuition payment yet?</p>

11

<p>Yes we paid last week. Simple process, no problems except gulping when typing in the number.</p>

12

<p>I'm not from US. The eCheck seems unpractical for me, and the payment site said that I can't use credit. The remaining choice is wire transfer. But one of my friends said that I can wait until the school starts and make payment at the office. Is that right?</p>

13

<p>Well, you can definitely make payments by check at the Student Services Center once you're on campus. But I was under the impression that this first bill was due August 1?</p>

14

<p>Yes, you can pay in person, and yes, the payment is due on Aug. 1 and there is a penalty if your payment is late.
[quote]
Accounts that are not on a payment plan and are past due will incur a late payment fee of 1.5% per month (18% annual percentage rate) on the outstanding balance. Contact your Student Account counselor immediately to discuss any difficulties you expect in making payments.

[/quote]
See the Student Financial Services page for more information, and for a link to contact information for the Student Account counselors. They do talk about wire transfers and say:
[quote]
Please note: international wire transfers may take up to a month before the student account reflects the credit.

[/quote]
If you anticipate any delay after Aug. 1, you should probably contact your Student Account counselor immediately.</p>

15

<p>Does anyone know about the MIT Technology Loan Program?</p>