Credit Balance Authorization Form
Student Financial Services
Massachusetts Institute of Technology
77 Massachusetts Ave., Room 11-120
Cambridge, MA 02139
Phone: (617) 258-8600
Fax: (617) 258-0700
CREDIT BALANCE AUTHORIZATION FORM
The disbursement of Federal Title IV funds will be used to pay in full all Federal allowable charges (tuition, fees, room and
board) for the current semester. However, if there are excess federal funds after all allowable charges have been paid, stu-
dents may authorize the use of these excess funds for other charges that do not fall under the umbrella of mandatory fees,
such as health insurance, library fees, transportation, etc. Federal allowable charges are first met by federal Title IV funds,
then institutional funds, and finally by outside or personal funds.
Additionally, if a credit balance appears on a student account and is the result of a personal payment or from any other
alternative payment source, a student may leave this credit on the account to pay for future fees.
In the case of a Federal Parent PLUS Loan, MIT requires authorization from the parent borrower to apply the funds to
charges beyond allowable expenses. Furthermore, if a refund of PLUS loan funds is requested, it will be refunded to the
parent(s). A separate authorization for PLUS Loans can be found on the PLUS Loan application.
I understand that this authorization is voluntary and will remain valid until the completion of my program at MIT. I further
acknowledge that I may rescind this decision at any time by submitting a written request.
Yes. I authorize MIT to hold and/or apply excess Federal Title IV financial aid funds as well
as funds from all payment sources to all charges on my student account. I agree that in order
to receive any credit balance created by federal financial aid funds and all payment sources, I
must make a request to my student account counselor.
No. I do not authorize MIT to hold my credit balance an