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Special Announcement for Recipients of the Florida Resident Access Grant

CSS / Financial Aid PROFILE Required for New Freshmen and Transfer Applicants Entering for the 2014-2015 Academic Year to Apply for Institutional Need-Based Financial Aid

The University of Miami will begin requiring New Freshmen and Transfer applicants to complete the CSS / Financial Aid PROFILE in order to be considered for institutional need based financial assistance. This application will be used to determine your eligibility for need based institutional funding for the four years of your undergraduate career (five years if you are enrolled in a specially designated five year program). The application may be completed online at profileonline.collegeboard.org. The University of Miami school code is 5815.

In addition, the Free Application for Federal Student Aid (FAFSA) should be completed in order to determine eligibility for Federal Student Aid.

Deadlines for CSS / Financial Aid PROFILE:

  • Early Decision: November 1 **Application Deadline Extended to November 8, 2013**
  • Early Action and Regular Decision: February 1
  • Transfers: March 1
  • Noncustodial Parent PROFILES should be submitted as early as possible. We will not review PROFILE Applications that have not satisfied this requirement and institutional need based funding is limited and awarded based on availability.

    Effects of Sequester on Federal Direct Loan Origination Fees

    On August 2, 2011, Congress passed the Budget Control Act of 2011, which put into place automatic federal budget cuts, known as the “sequester.” While this law does not otherwise change the amount, terms, or conditions of your Direct Stafford Loan or the Direct Plus Loan (for both parent and graduate student borrowers) it does increase the loan fees on these loans whose first disbursement is on or after December 1, 2013.

    The Direct Stafford Loan origination fee will increase from 1.051 % of your loan amount to 1.072 %. The Direct PLUS Loan origination fee will increase from 4.024 % of your loan amount to 4.288 %.

    Federal Direct Loan Interest Rates Changes

    Effective July 1, 2013 the interest rate of the Federal Subsidized and Unsubsidized Stafford Loans for undergraduate students is 3.86%. The Federal Unsubsidized Loan for graduate students is 5.41%. The interest rate for Federal Direct PLUS Loans (for parents of dependent students and graduate students) is 6.41%.

    Time Limitation of Direct Subsidized Loan Eligibility for First-Time Borrowers Effective July 1, 2013

    There is a limit on the maximum period of time (measured in academic years) that a student can receive Direct Subsidized Loans. In general, students may not receive Direct Subsidized Loans for more than 150% of the published length of their program. For more information regarding this 150% limitation on Direct Subsidized Loans please click here.

    Lifetime Limit to the Federal Pell Grant Program Beginning 2012-2013

    Effective beginning the 2012-2013 award year a student’s eligibility for receiving the Federal Pell Grant will be limited to 12 full-time semesters (or its equivalent). This change applies to all Federal Pell Grant eligible students. It is not limited to students who receive their First Federal Pell Grant on or after 2008-2009 award year. We will calculate the Pell Grant duration for a student by adding together each annual percentages of a student’s scheduled award that was actually disbursed to the student. For example, a student whose 2011-2012 Federal Pell Grant award was $5,550, but who received $2,775 because she was only enrolled for one semester, will have used 50% of that award year’s schedules award. Similarly, a student who was enrolled three quarter time (9 credits) for the 2011-2012 award year would have used 75% of their scheduled award. www.studentaid.ed.gov/pell-limit

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    Current News:
    The last day to apply for "Fall/Spring" or
    "Spring Only" Federal loans is May 2nd.


    FAFSA Info
    FAFSA

    In the School Release section of your FAFSA, you must indicate:

    University of Miami, Coral Gables

    Federal school code 001536

    Preferred Filing Dates
    Freshmen: Feb. 1
    Continuing: Feb. 1
    Transfers: March 1
    Graduates: March 1

           
      Our office awards financial assistance for Undergraduate and Graduate students. The University of Miami Law School and the Miller School of Medicine each have their own office of financial assistance to assist students in applying for and receiving financial aid.

    Students who want to be considered for need-based financial aid must complete and submit the Free Application for Federal Student Aid (FAFSA)

    We communicate with our students mainly through the CaneLink system regarding any information we might need in order to complete the financial aid process so it is very important that students visit the financial section of their CaneLink account often and their University of Miami e-mail address.
     
           
      For questions about billing and payments, visit the Office of Student Account Services in room 158 of the Ashe building.  
           
      For information regarding the admissions process visit the Office of Undergraduate Admission.  
           
      Our Student Consumer Information can be viewed at www.miami.edu/hea.  
           
           
       
         
     
           
           
    Click here to review our Non-Discrimination Policy  
           
           
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