Tuition, Billing, and Financial Aid FAQs

How much does the Miami MBA Online program cost?

Tuition is based on the number of credits for which you register. Current tuition rates can be found on University of Miami’s webpage.

Tuition includes:

  • Online learning environment and courses
  • Application processing
  • Nonrefundable enrollment deposit (paid separately and deducted from first tuition bill)
  • Technology fee
  • Access to the online library, career center, and disability services
  • Student and technical support

The University reviews tuition rates each year and reserves the right to increase tuition for existing students. If the University does increase tuition:

  • The increase will be implemented at the beginning of the fall term and will apply toward any future unbilled tuition.
  • Students’ tuition invoices moving forward will be adjusted to reflect the increase.

Are there additional fees assessed on top of tuition?

Students may be subject to late payment fees, if assessed, and graduation-related fees. There is also a $500 immersion fee, which will be billed for the appropriate semester(s).

Is health insurance required for online students?

Online students are not charged for health insurance.

How much is the enrollment deposit, and when is it due?

There is a $1,500 nonrefundable, nontransferrable enrollment deposit due once admitted.

Can I use financial aid to cover the deposit?

No, federal student aid cannot be used to pay the deposit.

Will I be able to view my financial aid award before submitting the deposit?

Students are notified of their award package once all required documents have been reviewed. The earliest students may be notified is upon admission. Continuing students are awarded in the summer for the following academic year.

When will I receive a tuition bill, how will I view my bill, and when is payment due?

Immediately after students have been registered into class, their tuition bill will be available in their student center through Canelink. Payment in full is due or arrangements to pay must be finalized by the first day of the first class of each term. If the University does not receive payment in full by this date, students will be removed from the online classes. Students are responsible for ensuring their payments are made on time regardless of whether they are utilizing a third party for payment. Students who are utilizing a third party for payment may need to find alternative payment arrangements to ensure they meet the payment deadlines as per the Online Graduate Academic Calendar.

What are the accepted forms of payment?

The University offers several payment methods, described below. A student’s tuition invoice will contain instructions for using these payment methods.

Credit card: A student may pay by credit card via the University’s partner, Elavon. A student can pay with:

  • MasterCard
  • Visa
  • American Express
  • Discover

Students will be charged a processing fee of 2.5 percent to pay by credit card.

e-Check (ACH): Students may pay their tuition by E-check (ACH) online through your Canelink account:

  • Click on the Student Home tab.
  • Navigate to the Finances section.
  • Click on Account Inquiry.
  • Click on Payment and follow the instructions.

Students will not be charged any additional fee if they pay by e-Check.

Wire transfer: Students may pay their tuition by wire transfer. The wire transfer instructions can be obtained through CaneLink.

How to obtain wire transfer instructions:

  1. Log into CaneLink and go to Student Center. Click on the Account Inquiry button under Finances.
  2. Click on Make a Payment to pay your tuition and select Wire Transfer Payment (USA & International).
  3. Select your country from the “What country are you paying from” dropdown list. For domestic wire instructions, select the U.S. Wire Transfer payment option.
  4. Create a Flywire account to track your wire payment, and enter basic identification information for the University to identify your payment.
  5. The bank account wire instructions will be provided.
  6. An email will be sent with a unique wire identification number.

Students should make sure their full name, student ID number, and unique wire ID number are included with the wire transfer to ensure the funds are applied correctly.

Students are responsible for any fees or currency exchange processing charged by their bank or exchange bureau when transferring funds and should account for this when sending their tuition payment. The University is not responsible for any fees students may incur during the transfer process.

How does my employer go about paying the school?

Payment by a third party: A “third party sponsor” refers to any organization which formalizes a contract with the University and provides a guarantee letter assuming financial responsibility for a student’s, or group of students’, tuition and fees, in full or portion thereof. Employers are not considered third party sponsors since sponsorship cannot be dependent upon the student’s continued employment with the organization. Students who plan on using their employers tuition reimbursement benefits are responsible for their tuition by the due date. Students with this type of assistance must inform the Financial Aid Office to ensure that financial aid is awarded appropriately and that funds are applied appropriately.

If a student’s tuition is paid via third party sponsorship, the student will still remain subject to all policies, including due dates, late payment fees, financial hold rules, and consequences. Any authorization document from the sponsor–i.e. financial letter, student roster, letter agreement, contract, or certification–must be emailed to the third party OSAS email listing the following information:

  • Sponsored student(s)’ legal name and corresponding university identification number(s)
  • Fees to be covered
  • Duration of time that fees will be covered

For organizations that provide sponsorship per term, the authorization document must be submitted at least 60 days prior to the term payment deadline. For organizations that provide authorization documents by academic year, the document must be submitted 60 days prior to the payment deadline of the first term of the student’s enrollment. If the sponsor wishes to withdraw sponsorship of the student(s), notice must be sent to University of Miami.

Sponsored students are credited with a “transfer to third party” deferment before payment is received. This deferment does not mean the University has received payment from the third party sponsor; rather, it serves as a deferment of the balance owed. The sponsor is invoiced for the balance during the billing period which occurs after the add/drop term of each semester. This provides sponsored students the opportunity to finalize their coursework before invoices are submitted to their sponsors. Invoices are sent to sponsors via the sponsor’s preferred method of delivery. Payments are due by the end of the term. Payment methods include paper checks and wire payments. Sponsors must provide the sponsored student(s) name and ID with each payment submitted.

In any sponsor-student billing arrangement, the student is ultimately held responsible for payment of campus charges. If payment is not received by the term deadline, the student is liable for all fees allotted to the sponsor. If neither student nor the sponsor remits payment, the student’s account will be subject to registration and transcript holds and ultimately collections activity.

Are payment plan options available for online students?

Through the Monthly Payment Plan, term tuition payment is divided into four monthly payments for the fall and spring terms. The summer term payment schedule is divided into three monthly payments and is only available to online students at this time. Each monthly payment is due on the first of the month and is not directly debited from the student’s account. UM Employees are not currently eligible to enroll in the Monthly Payment Plan at this time. UM Employees are encouraged to reach out to the Enrollment Advisor for other payment options.

  • Students must pay each term in full before they will be registered for the next term (see payment methods section). This chart details the Monthly Payment Plan option available during the fall and spring terms only. 
1 week before
No later than first day of class
1 week before
First of the next consecutive month
1 week before
First of the next consecutive month
1 week before
First of the next consecutive month

What happens if I do not pay my bill by the due date?

If payment is not received by payment due date, a registration hold will be placed on the student’s account the next business day. Once payment has been received, the registration hold issued for late payment will be removed.

Students are expected to pay tuition on time. Paying on time ensures timely registration into subsequent courses so that a student can continue to advance toward completing the program. Students must pay for each term in full before they can continue on to the next term.

If a student is 15 or more days past due on one or more invoices, he/she will be placed on Student Account / Financial Hold.

If a Student Account / Financial Hold is placed, students:

  • Will be able to complete the current course
  • Will not be registered into future courses until all outstanding invoices have been paid.
  • Will not be able to receive transcripts or a diploma

Students will receive a reminder that payment is due as well as overdue. Students will also be notified once a Student Account Hold is placed on their account.

Once students have made their overdue payment, the Student Account Hold will be removed within 24 hours and students will be registered into the next course in the next available term.

The University utilizes third party collections services to collect on unpaid balances.

Where can I find information on registration and tuition payment dates and deadlines?

If students have any financial or other holds, they will not be registered into a course until they have met the requirements to remove the hold. Please refer to the Online Graduate Academic Calendar for important dates regarding registration for continuing students and readmission. Students will not be registered past the deadline due to delayed payments on the students account. Tuition for each term must be paid in full and cannot be deferred to a future term. Students with incomplete “I” grades must have all incomplete grades updated to a letter grade in CaneLink prior to the registration deadline for the next term or will not be eligible for registration.

If I am eligible to receive a refund, what is the process?

Students may be eligible for a refund of financial aid, loan credits, or payments that exceed the charges on their student account. A refund may also result from other account transactions such as adjustments to financial aid, tuition, fees, and room and board. Students can receive refunds either by direct deposit or paper checks.

  • Direct deposit for student refunds: Students may sign up for direct deposit to receive their student refunds to a saving/checking bank account of their choice. To enroll, visit the Student Center’s Finances tab in CaneLink, then go to Direct Deposit under My Account. View the full guide on how to enroll in direct deposit. Please note: Only U.S. bank accounts can be used for this service.
  • Paper check for student refunds: Students who have not signed up for direct deposit will have their refund checks mailed to their current address listed in CaneLink. Please note that students cannot have someone else pick up their refund check and a valid photo ID is required in order to pick up a check.

You may receive a refund even though there is an outstanding balance. After eligible charges have been paid, there may be an excess of federal funds. Excess funds may be used to pay other pending University charges–i.e. health insurance fees, parking fees, library fines, etc.–but students must authorize the University to do so. To authorize the University to apply your excess federal funds to any outstanding University charges, students should complete a Title IV Authorization Form.

What is the Title IV Authorization?

The Department of Education requires that Title IV funds be applied only to specific allowable charges by default:

  • Tuition
  • Mandatory fees
  • Room and board contracted by the university

In compliance with federal regulations, the university must obtain voluntary permission from students to apply federal financial aid proceeds to pay for charges other than tuition, mandatory fees, and room and board contracted by the university (e.g., University health insurance plans). Please follow the steps below if you wish to authorize these Title IV funds. This only needs to be completed once. Students may rescind their authorization at any time.

To authorize funds, log into CaneLink, go to Student Center, and under the Finances section, click Student Permissions.

Who can I contact at school for billing and payment questions?

For all questions pertaining to the program, inclusive of billing, tuition, and refunds, students will need to submit an inquiry form. View the inquiry form on our University of Miami webpage — this form is only accessible to the University students with a single sign-on account.

Please note: students in the MBA online program should not contact Cane Central directly.

What is the Miami student portal?

Canelink is the University of Miami’s Student Information System, where you’ll pay your enrollment deposit, view course registration, grades, accept your Financial Aid, and pay your tuition.

How do I set up my CaneID and Password?

You can set up your CaneID and password in the CaneID Self-Service portal. Once on the page, click Register for a CaneID and follow the prompts.

Please note: CaneIDs are generated after the student submits their signed Intent to Enroll (ITE).

How do I set up my Miami email address?

New students receive an email with the subject line “Welcome to Microsoft 365” from the University of Miami Information Technology department. They can expect to receive this email once they have deposited and become eligible for registration.

The student’s email address should be set up automatically once the student submits the ITE accepting admission to the program. The email is typically the student’s CaneID, which is a combination of the student’s first and last name with some numbers. Students can access their email address by visiting our University of Miami email page and logging in with CaneID and password. This should happen approximately one week after you have been admitted to the University.

Access to the University’s email system also grants students access to Microsoft Office 365. It is important that incoming students log into their new emails as soon as possible since all University communication will be sent to this email address. Please see the instructions below on how to login to your new University of Miami email account:

Please note: All official University notifications are sent to your University email address, including billing and registration notifications, so it’s important you access your university email regularly. If you forget your CaneID or password, they can be retrieved at our CaneID webpage under CaneID Assistance.

Please contact the Student Technology Help Desk if you need further assistance.

Does Miami Herbert Business School offer internal scholarships to online students?

The University of Miami online MBA offers limited and competitive scholarships. All on-time and complete applicants are automatically considered for these awards at the time of the admissions application review. No separate application form is required for consideration of scholarships.

There are also external funding opportunities and scholarships available, which we encourage you to explore. You are welcome to independently research funding opportunities that may be available to you through your employer, local agencies, or private organizations.

Are there school-specific supplemental financial aid forms I need to complete?

Other than the FAFSA, which must be completed annually, there are no additional forms required for graduate studies at the University of Miami.

What federal student aid is available to graduate students?

The types of federal student aid graduate students are eligible to apply for include the Federal Direct Unsubsidized Loan and the Federal Direct Graduate PLUS loan. Learn more about the types of federal student aid on the Federal Student Aid website.

Why are graduate students not eligible for the Federal Pell Grant or the Federal Subsidized Loan?

The Department of Education awards Federal Pell Grants and Direct Subsidized Loans to eligible undergraduate students who demonstrate financial need and have not yet completed their bachelor’s degrees. The Department of Education does not evaluate need or income for loans at the graduate or professional level. Therefore, graduate students are not eligible for the Federal Pell Grant nor the Direct Subsidized Loan.

Are there academic requirements I must meet upon admission to receive federal student aid?

No, there are no additional academic requirements to receive federal student aid for this program.

Are there academic standards I must meet to continue to receive federal student aid?

Students must maintain satisfactory academic progress (SAP) to continue receiving financial aid. Learn more on our satisfactory academic progress webpage.

What is the minimum number of credits required to receive federal student aid?

Students must register at least half-time (5–8 credits per term fall and spring semester, and 3–5 credits for summer term) to receive federal aid.

What are private loans?

Private education loans, also known as alternative loans, are offered by private lenders to help students bridge the gap between the cost of education and the amount the government allows you to borrow in federal loans. Lenders offer private educational loans with different rates, fees, repayment terms, and approval requirements.

Are private loans offered at the University of Miami?

Although privately funded and managed, private educational 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. The Private Education Loan Applicant Self Certification form must be completed and submitted to the lender you select.

You can perform a web search to help you find a private education loan lender. Carefully consider all your options and review terms and conditions before applying. Borrow only what is necessary to pay for your educational expenses–tuition, fees, supplies, living expenses if necessary–and be sure to first apply for all federal (including federal loans), state, and institutional aid that you may qualify for through the FAFSA.

I am an international student. Are there loan options available?

Those that are not citizens or permanent residents of the United States may explore international student loan options, particularly if you have a U.S. citizen or permanent resident that can co-sign with you. There are also a few lenders that do not require a U.S. cosigner for approval but the loan terms may be less preferable. International applicants should research options and compare which resources offer the best terms.

The Rowe Fund for International Students grants highly subsidized loans to qualified undergraduate and graduate students who are 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 the Leo S. Rowe Pan American Fund webpage.

When will I receive my financial aid award?

Award packages are typically released one to two weeks prior to your start date. To receive your financial aid award on time, you must have your FAFSA submitted by the priority deadline per the Online Graduate Academic Calendar. Please make sure that you check CaneLink to verify that you do not have any outstanding documents that will prevent you from being awarded.

Please note: Students that miss this deadline may need to pay out of pocket for their first term if they are not awarded in time due to a late FAFSA submission.

How do I view and accept my financial aid award?

The financial aid year mimics the academic year in that it includes a fall, spring, and summer term. For example, the aid year 2021-2022 includes fall 2021, spring 2022, and summer 2022.

Follow these steps to access your financial aid information:

  1. Log into CaneLink.
  2. Click on CaneLink for Student.
  3. Under the Financials section in the menu on the left, click on View Financial Aid in the drop down menu.
  4. Click on the appropriate aid year (e.g., select 2021+ for anything that is aid year 2020-2021 and beyond).
  5. Select the appropriate aid year in the upper-right drop down menu.
    • Remember that aid years span from fall to summer. Therefore, fall 2021, spring 2022, and summer 2022 semesters make up the 2021-2022 aid year.
    • Be sure to toggle between aid years so you check the appropriate aid year for your awards, documents, and messages that pertain to that specific aid year.
    • Each aid year requires a new FAFSA to be considered for federal aid. Visit for additional information.
  6. Click Menu in the upper-left corner to select one of the following options:
    • Documents & Messages: View your pending documents, determine how to submit your pending documents, review messages regarding your financial aid, and take action on all missing documents as soon as possible
      • Note: You must submit all pending documents for your financial aid to disburse onto your account.
    • Awards: View your offered aid awards for that aid year.
      • Note: To accept your award, click on the Accept Awards function.
    • Accept Awards: Review financial aid awards, and accept or decline awards with a pending status.
      • Note: You must accept your awards for them to disburse onto your account.

Am I required to accept the full amount that I am offered on my award letter?

No, you do not have to accept the full amount offered. Students are encouraged to borrow only what is needed.You can choose to accept all, part, or none of your financial aid awards. If you wish to only accept a portion of the amount offered, you must submit a Loan Revision Request Form indicating the amount you wish to accept.

Does my Direct Loan eligibility cover the entire cost of the program?

Assuming you are eligible for both the Direct Unsubsidized Loan and the Direct Graduate PLUS Loan, the aid will cover the current academic year you are enrolled.

How soon will loans be disbursed to my student account?

Federal student loans will be disbursed to your student account on Friday of week two of class.

Can I use loans to cover additional expenses such as living expenses, books, supplies, and immersion / field placement expenses?

The total Cost of Attendance (COA) for the academic year includes tuition, books and supplies, fees, and living expenses. If there is eligibility for additional loan funds based on the COA, you are able to use those resources to cover expenses such as books, supplies, and other miscellaneous expenses.

Is there an immersion required for this program? If so, will I be able to use the loan funds to cover these expenses?

Yes, there is an immersion required for the MBA Online. Any surplus funds from your loans may be used to cover expenses associated with your immersion.

Who can I contact at the University of Miami for financial aid questions?

All inquiries must be submitted via email. Students should submit an inquiry form to the MHBS Online Financial Aid email. Please note: Free form requests for assistance will not be accepted via email.

You will receive a response via the form in the Office Use Only space, which will include comments and/or the resolution to your inquiry, in addition to an email from confirming the response. If there are additional forms required, you will be notified via the email address.

What is the FAFSA?

The Free Application for Federal Student Aid (FAFSA) is the application the Department of Education uses to determine if you are eligible to receive federal student aid. You can find the FAFSA on the Federal Student Aid website.

What is the University of Miami FAFSA school code?

The University of Miami FAFSA school code is 001536.

Do I need to include my social security number (SSN) in my application for admission to be eligible for aid?

You should include your SSN on your admission application if you intend to apply for federal financial aid. Not including the SSN may cause delays in processing your application for financial aid. Contact the Financial Aid Office for further information.

Do I need my parents’ tax information to complete the FAFSA?

If you are applying for graduate school, you are considered an independent student and do not need to include your parents’ information to complete the FAFSA.

What is the Expected Family Contribution (EFC)?

The Expected Family Contribution (EFC) is a measurement of your ability to contribute toward your educational costs. As a graduate/professional student your EFC is not a factor in your eligibility for federal student loans.

When should I complete the FAFSA?

The FAFSA is available every October 1 for the upcoming academic year. New students planning to use federal student aid should complete a FAFSA while applying for admission. Continuing students will need to submit a FAFSA each year they plan to receive federal student aid.

Please reference the chart below to determine which FAFSA to complete based on your desired start date:

StartTermFAFSA Year
January 2024
Spring 2024
May 2024
Summer 2024
August 2024
Fall 2024
January 2025
Spring 2025
May 2025
Summer 2025
August 2025
Fall 2025
January 2026
Spring 2026
May 2026
Summer 2026
August 2026
Fall 2026
January 2027
Spring 2027
May 2027
Summer 2027

Do I need to complete the FAFSA each year?

Yes. Because eligibility for federal student aid does not carry over from one award year to the next, you will need to complete the FAFSA for each award year for which you are or plan to be a student.

What constitutes an academic year for federal student aid? An academic year is the year for which financial aid is used to fund your education. Generally, this is the 12-month period that begins on July 1 of one year and ends on June 30 of the following year.

What is the Federal Direct Unsubsidized Loan?

The Federal Direct Unsubsidized Loan is a federal loan offered to students to help with the cost of education. The Federal Unsubsidized Loan is not based on income or financial need.

What criteria is used to determine eligibility for federal student aid?

The Direct Unsubsidized Loan is not based on income. In order to apply for federal student aid, you must:

  • Be a U.S. citizen or eligible noncitizen
  • Have a valid Social Security Number (SSN)
  • Be enrolled or accepted for enrollment in an eligible degree program
  • Be enrolled at least half-time in an eligible program
  • Maintain satisfactory academic progress (SAP)
  • Not currently be in default on previous federal student loans
  • Not have exceeded the maximum aggregate loan limit

Learn more about federal student aid eligibility criteria on the Federal Student Aid website.

What is the aggregate loan limit?

The aggregate loan limit is the total amount that you may borrow in federal student loans for undergraduate and graduate study. In addition to borrowing limitations based on the cost of attendance for the program, students are also limited in terms of lifetime borrowing. The maximum aggregate loan limit for federal loans is $138,500. This amount does not include PLUS loans or private loans.

If the total loan amount you receive over the course of your education reaches the aggregate loan limit, you are not eligible to receive additional unsubsidized loans. However, if you repay some of your loans to bring your outstanding loan debt below the aggregate loan limit, you could then borrow again, up to the amount of your remaining eligibility under the aggregate loan limit. You can learn more about graduate annual loan limits on the Federal Student Aid website.

How do I find out if I am near my aggregate loan limit or have defaulted on a federal student loan?

Log in on the homepage to view your federal student loan borrowing history and loan servicer details. Please note that private education loans are not listed on this site. Students in default are not eligible for additional federal loans. Contact your lender for default resolution options.

What is the difference between a Federal Direct Unsubsidized Loan and a Federal Direct Subsidized Loan?

Federal Direct Subsidized Loans are available to undergraduate students with financial need. The U.S. Department of Education pays the interest on subsidized loans while students are enrolled in their undergraduate program. The Federal Direct Unsubsidized Loan is available to undergraduate and graduate students and does not require demonstration of financial need. The Federal Unsubsidized Loan begins accruing interest as soon as funds are disbursed. Learn more about the difference between unsubsidized and subsidized loans.

How much am I eligible for with the Federal Direct Unsubsidized Loan?

Most graduate level students are potentially eligible to receive up to $20,500 per academic year from the Federal Direct Unsubsidized Loan.   

How do I apply for the Federal Direct Unsubsidized Loan?

To apply for the Federal Direct Unsubsidized Loan, you must complete the Free Application for Federal Student Aid (FAFSA).

What is the current Federal Direct Unsubsidized Loan interest rate?

The Federal Direct Unsubsidized Loan interest rate is determined on an annual basis. Learn more about interest rates on the Federal Student Aid website.

Are there any additional loan fees for the Federal Direct Unsubsidized Loan? There is a loan origination fee that is a percentage of the total loan amount. The loan origination fee is deducted proportionately from each loan disbursement you receive. Information on Federal Unsubsidized Loan origination fees can be found on the Interest Rates and Fees page of the Federal Student Aid website.

What is the Federal Direct Graduate PLUS Loan?

The Federal Direct Graduate PLUS Loan is a federal loan that graduate or professional degree students can use to help pay education expenses in addition to the Direct Unsubsidized Loan. Learn about Direct PLUS Loans.

Do Direct PLUS Loans affect my aggregate loan limit?

Only Federal Direct Subsidized / Federal Direct Unsubsidized Loansformerly referred to as Stafford loans–and federal loans made through the Federal Family Education Loan (FFEL) Program count toward your aggregate loan limit.

What are the eligibility criteria to apply for the Federal Direct Graduate PLUS Loan?

In addition to meeting all basic eligibility criteria, applicants cannot have an adverse credit history. A credit check will be conducted when applying for the Direct Graduate PLUS Loan.

How much can I borrow from the Direct Graduate PLUS Loan?

If approved for the Grad PLUS Loan, you can borrow up to the cost of attendance as determined by the University of Miami. It is recommended that students borrow their maximum eligibility in Federal Direct Loans before they apply for this loan program.

When can I apply for the Direct Graduate PLUS Loan?

You can apply for the Direct Graduate PLUS Loan within 180 days of the start of your program or once you are enrolled. It is recommended that you apply for the PLUS loan once you have been admitted to a program and within 60 days of the session beginning and at least one week before session ending.

How do I apply for the Direct Graduate PLUS Loan?

In order to apply for the Direct Graduate PLUS loan, you must first complete the Free Application for Federal Student Aid (FAFSA). Once you have completed the FAFSA, apply for the Direct Graduate PLUS Loan by completing the credit application on the Federal Student Aid website. You must also complete the Graduate PLUS Loan Master Promissory Note (MPN) and entrance counseling.

What are the next steps if I’m approved for the Direct Graduate PLUS Loan?

If you are approved for a Graduate PLUS loan, you will be required to sign a Direct PLUS Loan Master Promissory Note (MPN), agreeing to the terms of the loan. If you haven’t previously received a PLUS loan, you will also be required to complete entrance counseling. All of which must be completed on the Federal Student Aid website.

What are my options if I’m denied the Direct Graduate PLUS Loan?

If you are denied the Graduate PLUS loan, you may still receive a graduate PLUS loan through one of these two options:

  1. Obtaining an endorser who does not have an adverse credit history. An endorser is someone who agrees to repay the grad PLUS loan if you do not repay it. (A credit check will be performed on the endorser.)
  2. Appeal the denial by documenting to the satisfaction of the U.S. Department of Education that there are extenuating circumstances relating to your adverse credit history.

With either option 1 or option 2, you also must complete credit counseling for PLUS loan borrowers.

If you apply for a Direct PLUS Loan and are notified that you have an adverse credit history, you’ll be given detailed information on the options for qualifying by obtaining an endorser or submitting documentation of extenuating circumstances, along with instructions on how to complete the required PLUS counseling.

For more information about the ways you can qualify for a Direct PLUS Loan, contact Student Loan Support at 1-800-557-7394.

What is the Direct Graduate PLUS Loan current interest rate?

The Direct Graduate PLUS Loan interest rate is determined at the beginning of each academic year and is available on the Federal Student Aid website’s Interest Rates and Fees page.

Are there any additional loan fees for the Direct Graduate PLUS Loan?

There is a loan origination fee that is a percentage of the total loan amount. The loan origination fee is deducted proportionately from each loan disbursement you receive. Information on Direct Graduate PLUS Loan origination fees can be found on the Interest Rates and Fees page of the Federal Student Aid website.

Do I have to repay my student loans while I’m in school?

You can defer payment on your federal student loans if you are enrolled at least half-time–3 credits per session. You should be aware that although you can defer payments while you are in school, interest will still accrue on your loan(s).

Your federal loans will go into repayment six months after you graduate, fall below half-time status, take a leave of absence, or withdraw from the program. Most private loans also have deferred payment options while you are in school; however, you will need to check with your loan servicer.

When do I have to repay my loan?

After you graduate, leave school or drop below half-time enrollment, you will have a six-month grace period before you are required to begin repayment. During this period, you’ll receive repayment information from your loan servicer, and you will be notified of your first payment due date. Payments are usually due monthly. You are not required to pay while in school. However, if you choose to, there is no penalty to prepay. Learn more about repayment timelines.

What are the repayment plan options and how do I select one?

The Department of Education (ED) offers multiple options for repayment. You may visit the ED website for more information on loan repayment plans.

Is there a repayment calculator or estimator that I can use?

Yes, visit the ED website for repayment estimators.

Can I consolidate my graduate loans and my undergraduate loans?

A Direct Consolidation Loan allows you to consolidate (combine) multiple federal education loans into one loan including both graduate and undergraduate loans. The result is a single monthly payment instead of multiple payments. Learn more about loan consolidation.

Are there any loan forgiveness options available?

In certain circumstances, all or a portion of a borrower’s federal student loans may be forgiven under the federal government’s loan forgiveness program. Please review the Federal Student Aid website for more information on federal loan forgiveness programs.

How do I apply for military education benefits?

To begin the process of applying for eligible military education benefits, visit the U.S. Department of Veterans Affairs (VA) website. Questions regarding eligibility should be directed to the VA at 1-888-442-4551.

What documents are required to process military education benefits?

Visit to complete the Education Benefits Application, which generates a request for a Certificate of Eligibility (COE). The COE is mailed to you within six to eight weeks from submitting the application. A copy of the COE must be provided to the Veterans Services Department within the Office of the Registrar via the University of Miami Veterans email.

Am I able to defer payment pending approval of my military benefits?

University of Miami VA Pending Payment Compliance: In accordance with Title 38 US Code 3679 subsection (e), this school adopts the following additional provisions for any students using U.S. Department of Veterans Affairs (VA) Post 9/11 G.I. Bill® (Ch. 33) or Vocational Rehabilitation & Employment (Ch. 31) benefits, while payment to the institution is pending from the VA.

This school will not:

  • Prevent the student’s enrollment
  • Assess a late penalty fee to the student
  • Require the student to secure alternative or additional funding
  • Deny the student access to any resources–access to classes, libraries, or other institutional facilities–available to other students who have satisfied their tuition and fee bills to the institution

However, to qualify for this provision, such students may be required to:

  • Produce the VA Certificate of Eligibility (COE) by the first day of class
  • Provide a written request to be certified
  • Provide additional information needed to properly certify the enrollment as described in other institutional policies

What are the eligibility factors for the Post 9/11 GI bill?

You are potentially eligible if you have at least 90 days of aggregate active duty service after September 10, 2001 and are still on active duty, or if you are an honorably discharged veteran or were discharged with a service-connected disability after 30 days, you may be eligible for this VA-administered program. Learn more about the Post-9/11 GI Bill.

What is the process for applying for benefits at the University of Miami?

Learn more on our admissions and benefits webpage.

What is the deadline to apply for VA education benefits?

There is no deadline to apply for VA education benefits.

What are the current rates of benefits including the Monthly Housing Allowance (MHA)?

The tuition and fee payment rate and MHA are determined at the beginning of each military academic year on August 1. The current rate table is located on the Education and Training page of the U.S. Department of Veterans Affairs site.

When VA benefits are calculated, the amount of this national cap must be expended before Yellow Ribbon Program benefits can be awarded.

What is the Yellow Ribbon Program ?

The Yellow Ribbon Program allows degree-granting colleges and universities to voluntarily enter into an agreement with the VA to fund tuition and fee expenses that exceed the national maximum per academic year.

Participating institutions choose their contribution amount, the VA matches that amount, and issues payment directly to the school. For additional information on the Yellow Ribbon Program, available benefits, and eligibility, visit the U.S. Department of Veterans Affairs website.

Please note: The Yellow Ribbon program is a contract that the University of Miami has with the Department of Defense and must be approved annually.

Does the University of Miami participate in the Yellow Ribbon Program?

There are an unlimited number of Yellow Ribbon awards available for this program; however, the student must be using the Post 911 GI Bill at 100 percent eligibility and separated from service. The Yellow Ribbon Grant applies to the fall and spring semesters only. The summer semester/sessions are not covered by this grant.

How do I apply for the Yellow Ribbon Grant?

Yellow Ribbon Grant applications must be submitted to the Veterans’ Affairs Office. All information can be found on our University of Miami Yellow Ribbon webpage.

Additional information regarding this program may be found on the Veteran Affairs Yellow Ribbon webpage.

Who can I contact at the University of Miami for questions about using Military Education Benefits?

Find contact information on our contacts webpage.

Veterans Services Department

Office of the University Registrar
1306 Stanford Drive
The University Center, Room 1230
Coral Gables, FL 33146

Mailing Address

University of Miami
Office of the University Registrar
P.O. Box 248026
Coral Gables, FL 33124-6914

How do I qualify for a tuition tax credit?

For details on tax benefits for education, see Internal Revenue Service Publication 970, Tax Benefits for Higher Education, which provides detailed information. The University of Miami is unable to provide tax advice. We urge you to contact your tax advisor or the IRS at 800-829-1040 or visit the IRS website if you have any questions regarding the HOPE or Lifetime Learning Tax Credits.

What is the 1098-T Form?

It is an informational form filed with the IRS to report the amounts billed to you for qualified tuition and expenses and other related information. The primary purpose of the IRS Form 1098‐T is to inform you that we have provided this required information to the IRS.

What information is included in the 1098-T Form?

Form 1098-T reports amounts paid for qualified tuition, scholarships, and grants processed for students enrolled in courses at the University of Miami for which they receive academic credit. The information reported on the 1098-T form helps students evaluate whether he or she is eligible for an educational tax credit.

How do I obtain my 1098-T Form?

You can view your 1098-T by visiting the Educational Computer Systems website..

The 1098-T tax forms are mailed and postmarked to students by January 31. Online access is currently available for tax years 2013 and thereafter, where applicable.