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Federal Perkins Loan
  Federal Nursing Loan
  William D. Ford Federal Direct Loan Program
  Federal Direct Subsidized and Unsubsidized Loans
  Federal Parent Loan for Undergraduate Students (PLUS)
  Private Education Loans
  Rowe Fund for International Students
  UM's Lending Principles - Student Loan Code of Conduct


The Federal Perkins Loan program enables eligible students to borrow funds each academic year at a simple interest rate of 5%, with repayment beginning nine months after graduation or less than half-time enrollment for borrowers. The maximum yearly amount is $5,500 for undergraduate students. The aggregate total for a bachelor’s degree is $27,500 with no more than $11,000 to be accumulated during the first two years of attendance.

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The Federal Nursing Loan program enables eligible nursing students to borrow funds at a 5% interest rate with repayment beginning nine months after graduation or less than half-time enrollment for borrowers. Awards at the University of Miami vary.

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The William D. Ford Federal Direct Loan (DL) Program enables eligible students and parents to borrow from the U.S. Department of Education. Direct Lending offers:

  The Federal Direct Subsidized and Unsubsidized Stafford Loans; low interest loans made available for students. The government pays the interest on the Subsidized loan while the student is enrolled half time or greater. The borrower is responsible for the accrued interest on the Unsubsidized loans, but the student has the option to defer the interest payments while in school.
  The Federal Parent Loan for Undergraduate Students (PLUS) is available to the Parents of Dependent Undergraduate students. Borrowers must meet all eligibility criteria, which include being a US citizen or eligible non-citizen. Eligible parents can borrow up to the cost of attendance that is not covered by financial aid.

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Private Education Loans are a form of assistance that must be paid back. Private Education Loans are considered financial aid because cost of attendance and enrollment are certified by the school to the lender, and the loans must be considered as a resource in determining the eligibility for other aid. Borrow only what is necessary to actually pay for your educational expenses (tuition, fees, supplies, room, board). The Private Education Loan Applicant Self Certification form must be completed and submitted to the lender you select.

Many large lenders process Private Education Loans. You can perform a web search to assist you in your selection. These educational loans are privately, not federally, funded and managed. Carefully review terms and options before you apply for any Private Education Loan, and be sure to apply for all federal, state, and institutional aid that you may qualify for through the FAFSA before you apply for an Private Educational Loan.

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Rowe Fund for International Students

The Rowe Fund grants highly subsidized loans to qualified citizens from Latin America and Caribbean countries to help them finance their higher education or research at accredited institutions in the United States.

These loans are granted on the understanding that recipients agree to repay the loan in full and return to their home countries to apply their knowledge and training as well as continue to promote cultural exchange and development in the region. For more information visit www.oas.org.

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The University of Miami recognizes that ensuring the integrity of the student financial aid process is critical to providing fair and affordable access to higher education. Therefore, the University has formalized a Student Loan Code of Conduct. The Code is designed to avoid any potential for a conflict of interest between the University, and its students or their parents, with respect to its interaction with student loan providers, servicers and guarantee agencies. The Code is found in the University’s General Business Policies, BSF-070, found in its entirety at:


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