MITPAY statement higher than expected

Colleges & Universities Massachusetts Institute of Technology
1

<p>Much higher. Does the general tuition cover the entire first year, or just the first semester, since it says for “fall semester.” That’s almost three times the amount stated from my calculations based off of my financial aid package.</p>

<p>Either way, there seems to be a major discrepency between my current bill and the financial aid statement I got many months before (and are viewing right now via WebSIS). What happened to the amount to be paid for in work study and loan? As of now, my first bill is almost twice my EFC+self help for the entire year.</p>

2

<p>Yeah, same thing has happened to me. They mustn’t factor in finiad or something.</p>

3

<p>My grants/loans never came through until September or October – if you have certain kinds of loans, the government requires that you take loan entrance counseling and sign a bunch of papers, and you can’t do that until you’re on campus.</p>

<p>I don’t believe work study shows up in any official way on the bill (ie, it never says “Work study, -1000”). You just work and then pay the money to your bursar’s account.</p>

<p>Just pay the amount you have to pay now, as long as that’s not the full amount, and your grants and loans will come through in the fall.</p>

4

<p>Lol, my bill is around $12000 more than I was expecting, and it’s not like I can pull out that amount of extra cash till my financial aid comes in.</p>

5

<p>Mollie, are you speaking of the MIT Grant/Scholarship? If not, when does that begin to factor in?</p>

<p>Kellas:</p>

<p>Similar here, around $16K more than I was expecting for the 1st semester.</p>

6

<p>Oh man… Is everyone’s bill $20,200?</p>

7

<p>vu<em>preuss</em>06:</p>

<p>Mine is, though I probably will get that $600 insurance fee waived as I am transferring my current insurance.</p>

<p>Mollie:</p>

<p>I have absolutely no reason not to believe you, but does SFS provide us with anything in writing that tells us our grants/loans/finaid-in-general does not come through until school starts? That way, at least if we pay now, we do so with some peace of mind.</p>

8

<p>I have called the financial aid office to verify the statements for my 2 sons, one of them is a senior in MIT, the staff mentioned that was a system error, and ask me to adjust the payment by myself according to the financial aid letter we received, You may call the office to check the information.</p>

9

<p>luckyWin:</p>

<p>Good to hear. I’ll give them until Jul 10, their original post-up date. If my bill’s still the same, I’ll give them a ring.</p>

10

<p>Yeah, I was thinking that if the bill was due August 1st, how would we wait until we get to campus to work all that out…This has been the question lingering on my mind all the time; if we got an “MIT Grant” does the Financial Services office allow just subtract everything for us, or does the money add to our bursar account and we handle it. Guess we’ll have to wait and see, or can someone answer this question for me?</p>

11

<p>vu<em>preuss</em>06:</p>

<p>I found something. On my WebSIS Financial Record, I went Current Account Activity, and I saw “MIT Grant” under anticipated funds, given a negative value matching my financial aid. It said it was entered today, and is anticipated for the Fall Semester.</p>

12

<p>I was exploring and everything about the error is explained the “message board” link.</p>

13

<p>vu<em>preuss</em>06:</p>

<p>Ah, there it is. My lack of reading skills rears its ugly head once again.</p>

14

<p>I also qualified for a Pell Grant so I’m waiting for the disbursement to go through, but everything looks good. I guess I’ll fill out that outside scholarship sheet with the rest of my scholarships in case the disbursement doesn’t go through my August.</p>

15

<p>

Yeah, my boyfriend says he got an email that said there was a glitch in the system today.</p>

<p>No panics! :)</p>

16

<p>I apparently owe MIT negative monies!</p>

17

<p>For any confused students/parents, here’s the email you should have received by now:</p>

<p>

</p>

<p>So there you go. As long as you understood what that means. As someone parodied on the Tech news staff email list- “Your entire payment is due, but we’re going to make it suck for you to figure out what that means.”</p>

<p>All I know is I had a minor panic attack that they’d taken away my financial aid because I returned that self-reported scholarships page a day late. =)</p>

<p>Anyway, I love how even though this is MIT, they can’t just go back and FIX the problem, i.e. just add in your financial aid. No, they’re going to leave it that way and subject themselves to about 4 million calls and emails from confused people until the next time they update the system. <em>rolls eyes</em></p>

18

<p>But how do we know how much we HAVE to pay?? I don’t wanna get a penalty or something for not giving in the “right” amount…</p>

<p>I’m really new to this paying for stuff thing and the big numbers (the familiar 20200!) intimidate me. :x</p>

19

<p>Crash_Blair, follow the directions in number 1 above, and subtract your financial aid out of the 20,200 total. To be safe, in that page there’s a link to your account advisor (listed alphabetically). Call him/her on Monday to get the exact number.</p>

20

<p>My advisor updated my page to include a pell grant I qualified for. With the MIT scholarship, pell grant, and outside scholarships, I’m over 20,200. Do I have to do anything or just leave the account alone and the 20,200 will automatically be covered?</p>