About the MIT Sloan Opportunity Stimulus (SOS) Fund
The MIT SOS Fund offers fellowships funded through the generous support of MIT Sloan alumni, in partnership with External Relations and the Office of the Dean, to assist internship-seeking MBA and 18-month MFin students who have committed to an unpaid professional-level opportunity. The intention of the fund is to fill a unique and critical need: to support students without any source of summer funding in completing a degree-related summer professional experience.
Eligible Students: MBA 2022 + MFin Feb 2022
Fellowship funding is available for continuing students in the MBA and Master of Finance programs, where the summer professional opportunity is a critical part of the educational experience. Specific opportunity eligibility is outlined below.
MBA 2022 Students who have:
1) Accepted an unpaid professional-level opportunity that is being applied toward the 15.999 internship requirement, or
2) Founded an entrepreneurial venture that is being applied toward the 15.999 internship requirement and not receiving any MIT or other funding.
MFin Feb 2022 Students who have:
1) Accepted an unpaid professional-level internship, or
2) Founded an entrepreneurial venture and not receiving any MIT or other personal funding.
Important eligibility requirement: As you will be funded by MIT, you must be a continuing MIT Sloan student in MIT’s systems to be eligible. Continuing students have completed the current year as a fully enrolled MIT Sloan student and will be returning to MIT Sloan in the fall semester immediately following the summer internship. Newly matriculating students, students coming from another program, graduating students, or those leaving to attend another program are not continuing students in MIT’s systems, and the MIT Sloan Finance Office is not able to process funding.
Potential applicants should not apply if they have any other source of funds, such as another internship, company sponsorship, or sufficient personal funds for the summer.
MIT SOS Fund is intended to assist students; it is not designed to replace the amount that an internship typically pays. Please note that support is limited to eligible academic programs and summer opportunities, and only completed and approved applications will receive support.
Important note about other funding opportunities: MIT and MIT Sloan have programs to support Sustainability Internships, Non-Profit/Social Impact Internships, Public Service Internships, and Global Internships that might be more advantageous for students whose internships are eligible for those programs, and we encourage students to apply there first.
For students whose applications are approved, fellowship funds will be distributed every two weeks during your dates of work. Students will be receive $650 a week (paid on a bi-weekly basis). The maximum amount of funding is $6,500 for the summer.
Note: As funds will be offered through a fellowship, you will not be a student employee, so there is no requirement for I-9 or IPIA.
In order to benefit as many students as possible, please only apply for financial support if you do not have any other source of funds (such as another internship, company sponsorship, sufficient personal funds) for the summer. If your circumstances change and you secure a paid summer opportunity, we ask that you notify us as soon as possible that you no longer need support.
Application Period: April 12-July 15, 2021
Students who have accepted eligible summer opportunities may apply for support from the MIT SOS Fund during the application period, from April 12 to July 15, 2021. Applications will be approved on a rolling basis; and we expect to respond to candidates within two weeks of their application. If you have concerns about deadlines or timing, please email us and we will advise you.
Step 1: Accept an Eligible Role or Create an Organization
To apply for support, you must have an accepted offer for an unpaid professional-level opportunity or have founded an organization as part of an entrepreneurial venture (not receiving MIT or other funding).
Step 2: Submit the Application Survey
Once the application opens on April 12, please apply as soon as possible after you have accepted an offer or created an organization, to facilitate processing of your application. Note: As part of the application, you will be asked to submit documentation (including your offer letter) for your internship or opportunity. Your application will not be considered complete without this documentation.
Funding application deadline: Applications will be accepted on a rolling basis until July 15, 2021.