$6,349

Avg. Federal Grant

$4,178

Avg. Federal Loan

$234,946,296

Total Aid Awarded

University of Miami Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

69%

Total Aid Amount Average Total Aid Awarded per year.

$234.946M

Financial Aid Official Website

admissions.miami.edu/undergraduate/financial-aid/index.html

As many as 74% of the students at UM get some sort of financial aid, and the total amount of assistance/loans provided is more than $15,437,131 in a year. For additional information about financial assistance schemes, one can head over to UM’s financial aid page at http://admissions.miami.edu/undergraduate/financial-aid/index.html. Notably, a total of 13% of the applicants to University of Miami receive the Federal Grant every year. In comparison, 70% of the students are awarded the Student Grant, 67% get the Institution Grant, and 13% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $7,174, while the same comes to $9,939 for State Grant receivers and $30,763 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $4,771. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Those with a family income below $30,000 per annum, would get an average federal aid of $40,169 in a year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $47,214, while those falling in the $48,001-$75,000 income category get $43,031 a year. Meanwhile, the average federal aid for students in the $75,001-$110,000 income bracket is $37,259. And, for those with a family income of more than $110,000, the amount stands at $22,995. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At UM, an estimated number of 29% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

13%

State Grant Aid

20%

Institution Grant Aid

52%

Pell Grant

12%

Average Aid Awarded

Federal Grant Aid

$6,349

State Grant Aid

$6,323

Institution Grant Aid

$24,461

Pell Grant

$4,649

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$41,604

$30,001 - $48,000

$49,194

$48,001 - $75,000

$46,184

$75,001 - $110,000

$39,512

Over $110,000

$23,176

Student Loans for University of Miami

Average Loan Amount Average Loan Amount received per year.

$7,127/Year

Students Taking Out Loans

29%

Loan Default Rate

1.9%

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