With careful planning, studying abroad can be affordable! Interested students should meet with a study abroad advisor before discussing financial aid options with the Office of Financial Assistance Services.
The Financial Aid office has put together this Financial Aid Facts flyer. Please have a look.
Most forms of financial aid are available to UM students studying abroad on UM programs.
This aid includes:
• Pell grants
• SEOG grants
• Stafford loans
• Perkins loans
• PLUS loans
Students studying abroad on UM semester programs may also use their university scholarship(s). Non-UM students receiving financial aid from their home institutions should contact their financial aid office to determine if the aid is transferable.
No UM grants or scholarships can be used for non-UM study abroad programs. Most Florida aid will not be available for non-UM study abroad programs.
Frequently Asked Questions (FAQs)
My study abroad program costs more than what it costs to attend the University of Miami. Can I get more financial aid to cover my study abroad costs?
The Office of Financial Assistance Services (OFAS) can increase your Cost of Attendance according to the estimated program costs, so that you may apply for additional PLUS or private loan money. The OFAS cannot offer or increase any grant or scholarship money that you are receiving.
What financial aid is available for the summer study abroad programs?
Federal aid and loans are available for the summer. No state aid is available for summer programs. In most cases, UM merit scholarships do not apply to summer study abroad.
I am going on a non-UM sponsored program. Can I still receive my financial aid?
No. Effective Spring Semester 2015, the University of Miami will no longer offer financial aid for students participating in non-UM study abroad programs. When you are selecting a study abroad program, we advise you to choose a program that is administered through the Office of Study Abroad. Your financial aid and scholarships will remain in place if you choose a semester program that is part of the UM semester on location (“U” program) ord UM exchange partner list.
What is the earliest that my financial aid can be released to me for my program?
Due to federal regulations, the OFAS is unable to release any federal aid earlier than ten (10) days before the start of the semester at University of Miami.
How will I receive my refund?
All financial aid will be applied to your student account at UM first. If there are remaining funds after your aid is applied to your student account, you will receive a refund. It is suggested that you sign up for direct deposit so that the funds will go directly into your account.
If you have additional questions concerning financial aid, please call the Office of Financial Assistance Services at 305-284-5212 to schedule an appointment with a financial aid counselor.
If you have questions concerning your refund or student account, please contact Student Account Services at 305-284-6430 option 5.