ºÚÁÏÉçÇø

To determine who receives need-based financial aid, we first calculate how much financial aid you need. We do this by subtracting the amount of your Expected Family Contribution (EFC)/Student Aid Index (SAI) according to the results of your Free Application for Federal Student Aid (FAFSA) from the cost of attending (COA) ºÚÁÏÉçÇø for the year:

Cost of Attendance (COA) minus EFC/SAI equals Financial Need.

Any family demonstrating need in this way will be considered for need-based financial aid.

The EFC is an eligibility index that institutions use to determine how much financial aid you would receive if you were to attend college. The EFC is calculated according to a formula specified in law and is based upon the information provided by the ºÚÁÏÉçÇø and their family on the Free Application for Federal Student Aid (FAFSA). Your EFC is the same no matter which school you attend.

The SAI is the eligibility index used to determine your eligibility for federal, and in some instances, state and institutional need-based ºÚÁÏÉçÇø financial aid. Generally, ºÚÁÏÉçÇøs with a higher SAI are eligible for less need-based financial aid. It is based upon the information provided by the ºÚÁÏÉçÇø and their family on the FAFSA.

If you have met all the requirements to qualify for the first disbursement of funds and your aid exceeds your university-billed charges, your excess financial aid will be refunded. For a quicker refund, make sure to sign up for RedHawk Refunds.

If you have excess financial aid as a result of a PLUS loan, a refund check will be sent to the parent borrower's address, unless the parent requests on the initial Federal Direct Parent PLUS Loan Application that the refund be issued to the ºÚÁÏÉçÇø.

If your primary campus is ºÚÁÏÉçÇø Hamilton or ºÚÁÏÉçÇø Middletown, and you have earnred less than 16 semester credit hours, your excess financial aid will be disbursed after the enrollment freeze date for each semester.

If your aid has disbursed prior to the beginning of school and you receive a refund for the excess financial aid, you should use those funds to buy your books, course materials, supplies, and equipment. If your aid exceeds university charges but has not been disbursed prior to the beginning of school, you may be able to charge your books, course materials, supplies, and equipment against your excess financial aid utilizing MUlaa. Contact the One Stop during the first week of school to see if you qualify. Visit our Financial Aid Disbursements page for more information.

A computer purchase is considered an eligible educational expense and financial aid may be used to assist in purchasing one. If you have already received financial aid up to your cost of attendance (COA), you may request a one-time COA increase for the amount of the computer with proof of purchase.

Receiving a COA increase does not necessarily mean you will qualify for additional aid. Visit the Forms: Information and Login page to complete the Cost of Attendance Increase form.

Special Circumstances refer to financial situations that justify an aid administrator adjusting data elements in the Expected Family Contribution (EFC) or Student Aid Index (SAI) calculation. A ºÚÁÏÉçÇø may request a review of aid eligibility if the family’s financial situation changed after the tax year used when filing the Free Application for Federal Student Aid (FAFSA). Visit the Appeals page for more information. Students can find the Special Circumstance Estimate form on the Forms: Information and Login page.

To receive financial aid for any class you must be earning academic credit for it. Though you are charged full fees for auditing a course, you do not receive academic credit. Therefore, you are not eligible for financial aid for any audited courses.

Consider the following:

• Students may need to provide proof to their landlord that the financial assistance they are receiving for the semester will cover their rent. They may submit a copy of their Financial Aid Offer found in  and a copy of their Bursar bill indicating that an overage amount is expected. Students with private loans can provide documentation directly from the lender verifying the loan amount and the loan period. The landlord reserves the right not to accept these documents.
• Special circumstances may warrant the issuance of a short-term loan. The maximum amount for a short-term loan is $500. You must have a 2.0 GPA or better and show that you have adequate means of repaying the loan. The loan must be repaid by the due date set at the time of the loan. Exceptions to these guidelines are rare. We may also decline your request for the short-term loan if loan funds are limited or depleted. Contact the One Stop for more information about a short-term loan.

When we calculate your eligibility for need-based financial aid, we use the same estimated expenses for living costs whether you are living on-campus or off-campus, as long as you are not living with your parents. If you are receiving financial aid in excess of your university-billed charges, you will receive a refund.

If you have been awarded scholarships from ºÚÁÏÉçÇø specifically for your Miami housing and food charges and choose to live off-campus, you will not receive the portion of your scholarship that would have paid your Miami housing costs. If you do not purchase a university meal plan, you will not receive the portion of your scholarship that would have paid your Miami meal costs.

To be eligible for financial aid when you are seeking a second bachelor's degree from ºÚÁÏÉçÇø you must be enrolled in a different degree program than the one that you previously completed. Students seeking to complete a second degree will be prompted to complete the Alternative ºÚÁÏÉçÇø form, along with their academic adviser. 

"Estimated Aid" is any finalized scholarship, grant, loan, or payment plan as of the time the account is viewed.

If there are financial aid funds in excess of university-billed charges after your aid disburses, the money will be refunded to the ºÚÁÏÉçÇø provided that all financial aid requirements have been met.