Financial Assistance

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Financial Aid Programs

Loans

The University of Miami does not have a preferred lender list, and will process any eligible lender's Stafford, PLUS or alternative loan application.

Loans

FAFSA Required

Need-Based?

Range of Awards

Interest Rate

Repayment Begins

Aggregate limits

Notes

Federal Perkins Loan

Yes

Yes

$6,000 annual limit.

5%

9 months after graduation or below half-time enrollment.

$40,000

-

Subsidized Federal Stafford Loans

Yes

Yes

$8,500 annual limit.

Fixed rate of 6.8%

6 months after graduation or below half-time enrollment.

$65,500 combined Subsidized and Unsubsidized*, including any undergraduate loans.

Students have ten years to repay under the standard repayment plan.

Unsubsidized Federal Stafford Loans

Yes

No

$8,500 annual limit.

Fixed rate of 6.8%

6 months after graduation or below half-time enrollment.

$65,500 combined Subsidized and Unsubsidized*, including any undergraduate loans.

Students have ten years to repay under the standard repayment plan.

The Additional Unsubsidized Stafford Loan

Yes

No

Effective July 1, 2007 the annual limit becomes $12,000.

Fixed rate of 6.8%

6 months after graduation or below half-time enrollment.

$73,000*

Students have ten years to repay under the standard repayment plan.

Grad Plus

Yes

No

Students may borrow up to the total annual cost of attendance less other financial assistance

8.5% fixed rate

6 months after graduation or below half-time enrollment.

 

-

Alternative Education Loans

No

No

Students may borrow up to the total annual cost of attendance less other financial assistance

Variable rate based on borrower and/or co-borrower’s credit score

 

 

Talk to your lender about coborrower requirements, borrower benefits and terms and conditions