The Office of Student Financial Assistance and Employment administers federal, state, private and University financial assistance programs. Our office awards financial assistance for Undergraduate and Graduate/Professional students. We communicate with our students through the applicant portal (new students), CaneLink system and UM email accounts. Medical students should contact their respective financial aid office.
Prior to first billing statement, students work directly with the Office of Undergraduate Admission for all their financial aid needs.
Contact Information:
Location for financial aid walk-in visitors:
-
1307 Stanford Drive
Student Services Building, 1st Floor
Coral Gables, FL 33146
Hours:
- 8:30 - 4;30
Current Students (from first billing statement and beyond)
All current students work directly with Canes Central when they have questions about financial aid.
Contact Information:
Location:
Canes Central
1307 Stanford Drive
Student Services Building, 1st Floor
Coral Gables, FL 33146
Hours:
Monday through Friday from 8:30 to 4;30
Student Employment Walk-In Services provided at:
1306 Stanford Drive
Whitten University Center
Suite 1210
Coral Gables, FL 33146
Student Employment Walk-In Hours:
Monday through Friday from 9 - 12 and 2 - 4
Undergraduate Financial Assistance
It is the purpose of the Office of Student Financial Assistance and Employment to provide need based assistance and/or academic achievement awards to qualified students in the form of scholarships, grants, loans and work programs to the extent that resources are available. Professional financial aid and student employment advisors are ready to assist all students plan for the most efficient use of their financial resources for education.
Underlying the awarding of need-based financial assistance is the philosophy that the student and family have the primary responsibility for educational costs. Need-based financial assistance serves to supplement these primary resources.
- Students who require financial assistance to attend the University should apply for assistance each academic year.
- Candidates for admission should indicate their interest in need-based financial assistance by checking the box provided for that purpose in the application for admission.
- The U.S. Department of Education’s Free Application for Federal Student Aid (FAFSA) is used to determine eligibility for federal need based assistance. The FAFSA must be completed for each academic year.
- The College Board’s CSS Financial Aid PROFILE Application is required for both custodial and non-custodial parent households to determine institutional need based financial aid awards. The PROFILE application only needs to be completed once during your enrollment.
| Admission Application Option (App Deadline) | FAFSA, CSS/Financial Aid PROFILE, Noncustodial Parent PROFILE, Prior-Prior Year Tax Returns and W2's |
|---|---|
| Early Decision I & Early Action | November 15 |
| Early Decision II and Regular Decision | January 1 |
| Transfer- Fall | April 15 |
| Transfer - Spring | November 1 |
| Continuing Student | February 1 |
Important Financial Aid Tips
- Financial aid applications are accepted throughout the year, but it is important to note that the appropriate preference date for receipt of aid applications must be met as aid is awarded on a funds-available basis.
- DO NOT WAIT FOR YOUR ADMISSION DECISION TO APPLY FOR FINANCIAL AID. Financial aid resources are limited and there is no guarantee of assistance for students who do not submit appropriate documentation by the deadline posted above. Your financial aid application will not be considered complete until all documents are received.
- The Free Application for Federal Student Aid (FAFSA) is available at fafsa.gov. Use Federal School Code 001536. Create an FSA ID and Password at fsaid.ed.gov.
- Complete your CSS/Financial Aid PROFILE at css.collegeboard.org. After you complete your CSS/Financial Aid PROFILE, you will receive an e-mail from the College Board's IDOC process with instructions on submitting the initial necessary documentation.
- Students must also click on their “View Financial Aid” link, in their UM Portal, and follow the instructions on how to submit any additional financial aid requirements.
- If you are not required to file a federal tax return and will not be filing, please submit the official IRS Verification of Non-filing Letter. This can be ordered through the IRS website.
Financial Aid Census Date
Financial aid awards will be set according to a census date or date of fixed enrollment. All financial aid awards will be set according to the enrollment in effect at the close of business on the last day of the drop/add period each regular semester. No adjustments will be made to the financial aid awards for any enrollment changes (increases or decreases) made after this date with two exceptions:
- Bright Futures awards will continue to be decreased according to any reduction in enrolled credit hours.
- The aid award package for students with federal financial aid and who completely withdraw (drop to 0 credit hours enrolled) will be adjusted according to the regulatory required Return To Title IV Calculation.
Law, Graduate, and Doctoral Students
It is the purpose of the Office of Student Financial Assistance and Employment to provide federal financial aid assistance to qualified students in the form of loans and work programs, to the extent that funding is available.
Federal Direct Unsubsidized Loan
Eligibility for the Federal Direct Unsubsidized Loan is not based on financial need.
- Graduate and doctoral students may borrow up to $20,500 per academic year.
- Professional students, including Law students, may borrow up to $50,000 per academic year, subject to federal eligibility requirements.
- Interest accrues while the student is enrolled.
Beginning July 1, 2026, federal regulations established under the One Big Beautiful Bill Act (OB3) include new aggregate borrowing limits:
- Graduate/Doctoral Students: $100,000 aggregate limit for graduate borrowing.
- Professional Students, including Law Students: $200,000 aggregate limit for professional borrowing.
Students who previously borrowed federal loans for their current program prior to July 1, 2026, may qualify for limited grandfathering provisions under federal regulations.
Federal Direct Graduate PLUS Loan
Beginning July 1, 2026, the Federal Direct Graduate PLUS Loan program will no longer be available for new graduate and professional student borrowers.
Students who received a federal loan disbursement for their current program prior to July 1, 2026, may qualify for limited continued Graduate PLUS eligibility for up to three academic years or the remainder of their program, whichever occurs first, subject to federal guidance and eligibility requirements.
For eligible borrowers:
- Eligibility is based on the borrower not having an adverse credit history.
- Once the offered loan amount is accepted in CaneLink, a credit check will be conducted by the U.S. Department of Education.
- If the loan is credit denied, students may appeal the decision or reapply with an endorser.
- The Department of Education requires PLUS Credit Counseling for approved borrowers with adverse credit history or an endorser.
Federal Work-Study
Graduate students interested in Federal Work-Study may request consideration by contacting ’Canes Central. Work-Study is not automatically offered because many students elect not to participate.
Please note that students who receive Work-Study may have their federal loan eligibility reduced to accommodate the award.
Scholarships, Fellowships, Stipends, and Tuition Waivers
Scholarships, fellowships, stipends, and tuition waivers are administered exclusively by the Law School and the respective graduate college or school.
Once the Office of Student Financial Assistance and Employment is notified of these awards, they will be added to the students’ financial aid package. Adjustments to federal loan eligibility may be required to prevent an over award.
For additional information:
- Law students should visit the Law School website.
- Graduate students should contact the Graduate Advisor for their respective program.
- Students interested in graduate assistantships or fellowships should contact their College or School or visit the Graduate School website.
Steps to Receive Federal Financial Aid
Law, Graduate, and Doctoral students must complete the following steps to receive notification and disbursement of federal loans:
- Be admitted to a graduate, doctoral, or law program at the University of Miami.
- Complete the Free Application for Federal Student Aid (FAFSA).
- Graduate/Doctoral Students: School Code 001536
- Law Students: School Code E00532
- Accept or decline offered aid through the CaneLink portal.
- Loan borrowers must complete Graduate Entrance Counseling at the U.S. Department of Education website.
- Students borrowing Federal Direct Loans must complete a Master Promissory Note (MPN) through the U.S. Department of Education website.
- Students borrowing a Graduate PLUS Loan, if eligible under federal regulations, must have an approved credit check completed before disbursement.
Cost of Attendance and Financial Aid Packaging
Your financial aid offer may consist of federal and private loans, institutional or outside scholarships, tuition waivers, tuition remission, fellowships/stipends, or a combination of these resources.
Financial aid offers are based on the information available at the time of packaging. Aid will be offered up to the students’ maximum eligibility as determined by the Cost of Attendance (COA).
A student’s COA may change throughout the academic year due to changes including, but not limited to:
- Enrollment level
- University charges
- Program-related expenses
Students who are aware of additional awards not yet reflected on their financial aid offer should not accept the full amount of loans offered until all resources have been reviewed. Once the Office of Student Financial Assistance and Employment is notified of additional aid, loan eligibility may be adjusted to prevent an over award.
Enrollment Requirements and Loan Proration
Beginning July 1, 2026, federal regulations require loan proration for students enrolled less than full-time.
To be considered full-time:
- Graduate/Doctoral Students: 9 or more credit hours or enrollment in an 800-level course
- Law/Professional Students: Enrollment as defined by the professional program
Students enrolled at least half-time, but less than full-time, may have their federal loan eligibility prorated based on enrollment intensity.
Students who reduce enrollment after loan disbursement may be required to return a portion of previously disbursed aid and may experience adjustments to future disbursements.
Important Federal Loan Repayment Changes Effective July 1, 2026
Beginning July 1, 2026, federal repayment options for new federal student loan borrowers will change.
Borrowers with new federal loans first disbursed on or after July 1, 2026, will generally have access to:
- A Standard Repayment Plan
- The new Repayment Assistance Plan (RAP)
Existing borrowers with loans disbursed prior to July 1, 2026, may retain access to certain current repayment plans, subject to federal transition rules and Department of Education guidance.
Because federal guidance continues to evolve, students are encouraged to regularly review StudentAid.gov and University communications for the most current information regarding federal student aid changes.
Maintaining Eligibility and Satisfactory Academic Progress
Students must maintain all federal eligibility requirements for the duration of enrollment. Students with an online modality must demonstrate academic engagement in order to be eligible for federal loans.
Students receiving federal financial aid must also maintain Satisfactory Academic Progress (SAP) as defined by federal regulations and University policy. Please refer to the Satisfactory Academic Progress page for detailed requirements.
Private Educational Loans
Students who need additional funding beyond federal aid eligibility may consider applying for a private educational loan through an outside lender.
Private educational loans:
- are credit-based loans offered by private lenders.
- typically require a satisfactory credit history or a creditworthy cosigner.
- may help cover educational expenses up to the Cost of Attendance, minus other financial aid received.
- often have variable or fixed interest rate options depending on the lender.
- are not federally guaranteed and do not offer the same borrower protections and repayment benefits available through federal student loan programs.
Students are strongly encouraged to exhaust federal loan eligibility before pursuing a private educational loan.
The University of Miami provides students with access to a Preferred Lender List to assist in comparing private educational loan options. Lenders included on the Preferred Lender List were selected based on a review process that considered borrower benefits, customer service, technology, and overall value to students and families.
Students are not required to use a lender from the Preferred Lender List and may choose any eligible lender of their preference at ELM Select.
