The MIT delta v organizing team, in conjunction with the advisory board assigned to your team, will determine the amount of milestone money, if any, to be awarded each month. You have the ability to receive additional funding up to $20,000 in milestone money during the duration of MIT delta v.
Only current MIT students, as defined in the “Eligibility” section, are eligible to receive the $2,500/month fellowships. Only students listed in the submitted application will be eligible as well.
The fellowships will only be awarded during June, July, and August. The MIT delta v organizing team, in conjunction with the advisory board, will determine which team members will receive the fellowships. In general, a team member needs to be founder-level and work full-time at the MIT delta v site to receive money for a particular month.
Remember that all payments are considered income and are therefore taxable. Non-U.S. citizens are typically subject to a 14% tax withholding from any money they receive. We do not provide tax guidance.