Monthly Payment Plan

The Monthly Payment Plan (MPP) allows you to divide your educational expenses into 4 convenient monthly payments per semester. The MPP is a pay-as-you-go budgeting plan, instead of saving to make a single payment at the beginning of each semester. MPP participants may budget their tuition, fees, on-campus housing, and meal plan expenses as a part of their regular monthly payments on a semester basis (not including summer). Participants are billed in equal monthly installments once the MPP enrollment has been completed. This process will transfer the balance owed in the student's account to the Monthly Payment Plan. A total minimum balance of at least $1,000 is required to participate in this plan. (This means that you must owe at least $1,000.00) A non-refundable administration fee of 3% of the plan amount is charged and added on to the monthly payments.

Enrollment in the plan does represent a contractual agreement between the student and the University. Proxies are not allowed to establish a monthly payment plan on behalf of a student. Once the student is enrolled in the plan they cannot cancel out of the plan. This process should be completed on the student’s Canelink account under the “enroll in payment plan” tab. You will be able to review the installment plan and due dates for each payment. Once you have read and accepted the agreement you will view the installment schedule of your payments and can begin submitting payment towards the plan. Proxies can submit payments towards a monthly payment plan through CaneLink All payments are due on the 1st of each month, beginning August 1st for fall and January 1st for spring; a $20.00 late fee will be incurred if not paid on time.

Payments can be submitted once enrollment is completed and any time after with an electronic check, wire transfer, or by credit card (there will be a 2.5% additional surcharge on the amount for credit card transactions). You can make payment at the Cashier’s window or mail a personal check, if you are mailing a check please use the following mailing address:

University of Miami
Monthly Payment Plan
PO Box 249146
Coral Gables, FL 33124-4610

If additional financial aid is received after enrollment in the payment plan, the credit will be automatically transferred to the plan without previous verbal or written notification. Subsequent adjustments resulting from any changes to the student's financial aid award package and/or to the student's account, including charges, will be adjusted systematically on the established installments with no previous notifications to the student. It is the student's responsibility to be aware of all adjustments on their account.

If payment is late, declined, or returned for more than 1 month the payment plan may be canceled. If the plan is canceled the student will no longer be able to enroll in the payment plan in Self-Service, the student will need to come in to the Student Financial Office. Financial holds will be processed on Monthly Payment Plans for past due balances or accounts that submit checks with insufficient funding. This processing will prevent the release of transcripts and/or the ability to register for future semesters. Financial holds will only be removed once the past due amount is paid with certified funds, credit card payment, or wire transfer -without exception, personal checks will not be processed to release stops.

Intersession courses are not included in the University’s fixed rate of 12 to 20 credits. They are billed separately. If you are adding an Intersession course to your class schedule this will be automatically added on to the existing plan and the payment installments will be adjusted with the new balance once you have enrolled in the course.

Students can enroll in the Payment Plan by clicking on Student Center > Go to Finances > Go to My Account > Click on Account Inquiry > Click on Account Summary > enroll in payment plan and follow the 4 steps to complete enrollment in the plan. 1st payment is due on August 1st with subsequent payments due on the 1st of each through November 1st. The same process will need to be completed if enrolling in the Payment Plan for Spring, with the 1st payment due on January 1st and subsequent payments due on the 1st of each month through April 1st. Enrollment in self-service will be available up to August 31st for Fall semester and December 31st for Spring semester.

Monthly Payment Plans are not available for summer sessions.

Sample Plan
Full-Time Undergraduate Student
4 Month Payment Plan
(BASED ON ESTIMATED COSTS)

Fall (12 - 20 credit hours per semester) $20,790.00
Student Activity, Athletic, Wellness Center Fees, Student Center Fee, Student Health Counseling Center Fee (Mandatory) $636.00
* Health Insurance Fee (Estimated)* $2,197.00
Housing (Double Room/Residential College) $3,516.00
14 - Meal Plan $2,418.00
Total Charges $27,653.00
   
**Less Financial Assistance Package (Example only)** $(10,000.00)
Balance Due / Semester Financing Needed $17,653.00
Plus 3% MPP Administration Fee $529.59
   
Total Monthly Payment Plan Contract $18,177.59
Monthly Installments (August 1 to November 1) (Due the 1st of each month: $4,544.36) $4,544.40  
Click here to learn how to set up your MPP!

*If you have adequate health insurance, this fee may be waived (at the discretion of Student Health Services) by submitting a waiver form prior to registration to the Health Center. Note: if the insurance is not waived at the time of application receipt the amount will be included in the plan. 

**If you are including student loans as part of your financial aid award in the MPP you need to have completed the following: 

  1. You must have accepted the loans on CaneLink
  2. The master promissory note and Entrance Counseling must be received by www.studentloans.gov.

If you need further information about the Monthly Payment Plan please call us at (305) 284-6430 (Option 6)