by our College Data Analytics TeamMost college students will not be charged the full price tag of a school. Instead, they will be offered a financial aid package that includes a combination of loans, grants, scholarships and possibly work-study opportunities.
Uncover the various financial aid options provided by U Miami and determine which ones you may be eligible for by continuing your exploration.
$37,452.00 is the typical University of Miami’s first year financial aid package. 72% of reshman students get financial aid, most of which is in the form of grants and scholarships
Financial aid helps decrease the expense, or the “sticker” price of the school. But keep in mind that the only real discounts off the cost of college are in the form of grants and scholarships.
A student loan isn’t a genuine college price reduction, but rather an additional cost consideration. Discover how much student loan debt from University of Miami you could end up dealing with.
Financial awards given by a college or university to its students, known as institutional scholarships and grants, help to offset the cost of tuition and other education-related expenses. These awards fall into two categories: merit-based and need-based, and they do not need to be paid back. Merit-based institutional scholarships are granted to students who have shown outstanding academic accomplishments, special talents, or abilities in a particular field. Factors such as high school performance, standardized test results, or involvement in extracurricular activities often contribute to these scholarship decisions. Conversely, need-based institutional grants cater to students who demonstrate financial need. The awarded amount is typically based on the student’s family’s financial standing and is intended to cover the difference between the cost of attendance and the family’s ability to contribute. Colleges and universities might use data from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms to determine a student’s eligibility for need-based grants. Institutional scholarships and grants are a vital source of financial support for students, as they can significantly reduce the cost of attending college and help make higher education more accessible.
The numbers below apply to scholarships and grants primarily provided by University of Miami.
62% of incoming freshmen (1346 total) were given scholarships at University of Miami, averaging $35,163.00 per student. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 19% of freshmen (409 total) obtained a federal grant, for about $5,624.00 a piece.
The table below demonstrates scholarship and grant allocations by income level for freshmen receiving any type of federal Title IV assistance, which includes Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 4.91% | $25,100.00 |
| Income 30k-48k | 4.40% | $34,637.00 |
| Income 48k-75k | 6.15% | $30,564.00 |
| Income 75k-110k | 5.18% | $25,285.00 |
| Income 110k + | 12.84% | $15,923.00 |
The table above shows students who are obtaining Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more here.
Of the 2180 undergraduate students at University of Miami around 72% (1479 total) receive some form of grant aid. The typical amount awarded was $37,452.00.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.