Miami Within Reach

A University of Miami experience is enriched by enrolling a diverse group of high achieving and motivated students. All admitted students have the opportunity to attend the University of Miami, regardless of socioeconomic status.

The University’s modified approach to financial aid, which includes meeting 100 percent of demonstrated financial need in the first year, has opened up the dynamic and unique University of Miami experience for all admitted and enrolling students. The University of Miami reaffirmed its commitment to excellence and took another step toward bringing a world-class education within reach for more students, while working to reduce student debt.

Also known as “need-based” aid, our Miami Within Reach program is available to all eligible, full-time undergraduate students who have completed and submitted their FAFSA and CSS Profile with required income and wage documentation by the stated deadline. Non-US citizens/permanent residents do not complete the FAFSA but must complete and submit the CSS Profile to the College Board and the required Financial Certification Form to the Office of Undergraduate Admission by the stated deadline. Questions regarding financial aid for international students should be directed to intladmission@miami.edu.

The University of Miami meets the full demonstrated financial need of all admitted students in their first year at UM. Assuming there is a not a meaningful change in a family’s financial profile, the student meets Satisfactory Academic Progress thresholds, and the student files a FAFSA each year, the financial aid awarded in the first year will not change over the course of the student’s next three academic years.

Need is determined using institutional methodology to calculate an Expected Family Contribution. Then, our Office of Student Financial Assistance and Employment crafts a combination of grants, loans and other sources of aid to cover the difference.

Here are a few terms you will need to know as you go through the admission and aid processes:

• Cost of Attendance (COA) is a total estimate of billable charges for tuition, room, and board as well as additional expenses for books, supplies, and some personal needs.
• Demonstrated Financial Need is the difference between the Cost of Attendance and the Expected Family Contribution. This is the amount your financial aid offer will be designed to cover.
• Expected Family Contribution (EFC) is the amount of money a student’s family is responsible for paying toward the Cost of Attendance as determined by the University. This amount is based on the family income and asset information provided on the FAFSA and CSS Profile.
• Student Aid Index (SAI) is the new name of Expected Family Contribution (EFC) used in the needs-analysis calculation on the Free Application for Federal Student Aid (FAFSA)—the form used by colleges, states, and other scholarship providers that can be included in financial aid packages.

To get an estimate of your family’s net cost, visit UM’s Net Price Calculator. (Please note this will provide only an estimate; your actual aid eligibility will be determined by the Office of Student Financial Assistance and Employment using the information you submit on the aid applications.)

Once your demonstrated financial need is determined, financial aid packages are built to meet the entire sum of this amount at the time of admission. These offers consist largely of grants, which you do not need to repay. This approach to financial aid is aimed at keeping your debt burden at graduation comparatively low.

The University of Miami has numerous financial aid opportunities to make your prestigious education affordable. If you’ve got passion, we have a path to transform your aspirations and interests into a rewarding career. Depending on your financial situation, you may be eligible for grants, low-interest student loans, work-study programs, scholarships, or a combination of all four. Remember, all applicants are considered for merit-based scholarships, regardless of financial need.

To apply for need-based aid, submit the required documents by the stated deadline. Aid requirements deadlines can be found on the Office of Student Financial Assistance and Employment website.

Please visit the Office of Student Financial Assistance and Employment for a comprehensive list of aid programs for Florida students.

The University of Miami awards merit scholarships to incoming first-year students based on a holistic review of your application, including your academic achievements. All applicants are automatically considered for merit scholarships regardless of admission plan. To be considered for our Premier Scholarships, which cover up to the full cost of attendance annually, students must apply by the November 1 deadline.

The University of Miami also offers merit-based scholarships for transfer applicants. Awards are between $10,000 and $15,000 per year.