MIT offers loans to eligible employees to help offset the financial burden of providing an undergraduate or graduate college education to eligible dependent children.
You are generally eligible for the Educational Loan Plan if you work at least 50% of the normal full-time work schedule in your department, laboratory, or center, are appointed to work at MIT for at least one year, and are paid by MIT. MORE
Time to enroll: Whenever you are eligible — no need to wait for annual Open Enrollment.
Tenured faculty may apply for the Educational Loan Plan upon employment at MIT and are not subject to the one-year waiting period.
All the provisions of the Educational Loan Plan are subject to the terms of your collective bargaining agreement.
Educational Loan Plan applications are not processed by the MIT Benefits Office. The loan is processed by Financial Aid Delivery in Student Financial Services. Mail your application to Room 11-120, attention MIT Education Loan Administrator or contact Gail Novak at 617-253-3342.