Financial Aid
There are many programs of assistance available from private, state, federal, and university funds. We are committed to helping you—within the limits of available funds—gain a college education even if your resources are limited. To receive consideration for most programs, you and your family must complete one or more forms. All information you provide remains confidential.
Understanding which programs are available to you is complicated by many state, federal, and local agencies that set regulations for the use of the funds. You, as a consumer of these funds, have the right under law to receive clear, accurate information concerning aid programs.
For more information, see Financing Your Miami Education, a brochure available from the Office of Student Financial Assistance, check online here, or contact our office.
Need-Based Assistance
We can assist you in obtaining three kinds of need-based assistance: grants, awards based on financial need that do not require repayment; loans, awards that require repayment; and work-study, part-time employment.
Aid packages are combinations of these kinds of assistance put together to meet your financial need. The total amount you receive is based on your family's financial circumstances.
Grant Programs
Students from low-income families are the most eligible for grants. Generally, students receive grant funds in combination with loans or work-study jobs. Students with disabilities may also be eligible for grants from the Bureau of Vocational Rehabilitation.
The following grant programs are awarded on the basis of your family's financial circumstances; no repayment is required.
Federal Pell Grant — Federal grant for undergraduate students. The maximum grant in 2002-2003 is $4,000 per year for full-time students.
Federal Supplemental Educational Opportunity Grant (SEOG) — Federal grant administered by Miami University for high-need applicants who are also eligible for Pell Grants. A limited number of these grants are given in combination with Pell Grant, loan, or work-study money.
Ohio Instructional Grant (OIG) — State grant assistance for Ohio resident undergraduates whose family's income is less than $35,000 a year.
Multicultural Grant — Special need-based grants available to multicultural students who are enrolled full-time.
BVR/Bureau of Vocational Rehabilitation-Bureau of Services for the Blind — Federal and state grant program for undergraduate students with disabilities. Eligibility for funding is determined by the Rehabilitation Service Commission in the student's state of residence. Contact the state office in your state capital in order to begin the agency's application process as early as possible.
Loan Programs
Loans may make it possible for you and/or your family to defer the cost of education by borrowing now and repaying when you leave the university.
Federal Perkins Loan — These are deferred payment loans for undergraduate students enrolled at least half-time. You may be awarded a Perkins loan if you have significant need and submit your Free Application for Federal Student Aid (FAFSA) prior to Feb. 15.
No interest is charged or repayment expected until you cease to be enrolled at least half-time. Interest of 5 percent a year begins nine months after you leave school and repayment must be completed within 10 years.
Federal Direct Subsidized and Unsubsidized Student Loans - Any student who wishes to apply for the Federal Direct Subsidized and Federal Direct Unsubsidized Loans should submit the Free Application for Federal Student Aid (FAFSA) to the Federal Student Aid Programs and have a copy sent to Miami.
The Direct Subsidized Loans are awarded based on your financial need. With a Direct Subsidized Loan, the federal government does not charge interest on the loan before repayment begins or during authorized periods of deferment (postponement of repayment).
The Direct Unsubsidized Loans are awarded based on the cost of education less other financial aid received. The federal government charges interest on the loan from the time the loan is disbursed until the loan is paid in full.
Annual borrowing limits for both the Direct Subsidized and Unsubsidized Loans are $2,625 for freshmen, $3,500 for sophomores, and $5,500 for the remaining years of undergraduate study. Independent students may also qualify for an additional unsubsidized loan of $4,000 or $5,000 depending on your undergraduate status. Graduate annual loan limits are $18,500. Aggregate loan limits exist for both undergraduate and graduate study.
Federal Direct PLUS Loans - Direct PLUS loans help parents pay their dependent child's educational expenses. Your parents may borrow up to the cost of attendence minus any other financial aid that you receive. The federal government charges interest from the date the first disbursement is made until the loan is paid in full. After the full disbursement of the Direct PLUS Loan for the school year is made, the repayment period begins. To apply for the PLUS loan, a FAFSA must be submitted and a Parent PLUS application must be provided to the Office of Student Financial Assistance.
Alternative Loans - Alternative or private loan programs are designed to help bridge the gap between the student's financial needs and the amount of funding provided through scholarships, grants, federal loans, or other resources. Most loans require a good credit rating and/or a creditworthy co-signer. To inquire about alternative loans, please contact the Office of Student Financial Assistance.
Federal Work-Study (FWS) Employment
If your family financial information reported to the Office of Student Financial Assistance indicates that you and your family cannot meet the costs of your schooling, you may be offered FWS eligibility as part of your financial aid package. If your financial need is great, this federally funded work program may lessen the amount of loan in your package and give you the opportunity to work on campus.
Summer Aid
If funds are available, financial aid may be awarded for summer sessions. Applications for summer aid are usually available by March in the Office of Student Financial Assistance. Your Free Application for Federal Student Aid (FAFSA) form also must be filed prior to determining eligibility for summer aid.
Aid for Another University or Study Abroad Program
Students planning to enroll in programs at other universities or study abroad programs may receive consideration for financial assistance. Contact the Office of Student Financial Assistance as early as possible to learn about your financial aid options for these programs.
Other Sources of Aid
Assistance for Non-Ohio Residents
Most states have student assistance programs. Contact the student assistance agency in your state for information on what aid is available and how to apply.
Assistance for Veterans
Veterans Administration GI Bill eligibility and certification of attendance forms are available at the Veterans Affairs Office in the Office of Student Financial Assistance. You must report immediately any changes of your program (adds, drops, or withdrawal) to the Veterans Affairs Office and the Registrar's office while receiving educational benefits from the VA.
Additional financial assistance through programs described in this section is available to most veterans.
Campus Employment
The Office of Student Financial Assistance, 121 Campus Avenue Building, coordinates all student employment on campus. If your family financial circumstances do not make you eligible for a FWS job paid from federal money, you can seek a campus job paid entirely from university funds. Information about campus employers, job classifications, and wage rates is included in a brochure, Working on Campus, and online here; you can also search for a campus job online. The brochure is available from the Office of Student Financial Assistance or the Admission office.
Eligibility for Financial Assistance
Programs based on financial need, funded by state and federal aid programs, are administered by Miami. To be eligible for these programs, you must:
- Be a U.S. citizen or eligible noncitizen.
- Be registered for Selective Service if you are a male at least 18 years old and born after Jan. 1, 1979.
- Be at least a half-time student enrolled in an eligible program as an undergraduate, graduate, or professional program student.
- Be able to demonstrate financial need; see Applying for Assistance below.
- Maintain satisfactory progress in your course of study according to standard practices of the institution (explained below).
- Not owe a refund on a Federal Pell Grant, Federal Supplemental Grant, or State Student Incentive Grant.
- Not be in default on any Federal Perkins/National Defense/Direct Student Loan, or Stafford/Guaranteed Student Loan or owe a refund to an institution for previous overpayment from financial aid.
Note: Most international students do not meet citizenship requirements for aid programs administered by the Office of Student Financial Assistance. Contact the director of International Education Services for information about financial assistance.
Applying for Assistance
You must apply for assistance annually. For need-based aid and scholarships, complete a Free Application for Federal Student Aid (FAFSA) online (www.fafsa.ed.gov/) or request a FAFSA from the Office of Student Financial Assistance. Submit to the federal processor by Feb. 15 to be considered a priority applicant for financial aid programs and need- based scholarships. You will receive confirmation of your application approximately four to six weeks after filing.
Determining Your Financial Aid Package
The Office of Student Financial Assistance assesses the amount of your financial need and determines the programs for which you are eligible. To do this, we follow these steps:
First, we assign a budget that reflects factors such as your place of residence and the campus you will be attending. The budget includes tuition, fees, board, books, and living and personal expenses.
Second, after receiving your FAFSA data from the Department of Education, we use the calculated family contribution that reflects family income and assets as well as such resources as private scholarships, Social Security educational benefits, veterans benefits, etc.
Third, we subtract the family contribution from the school year budget that applies to you. The remaining amount is your financial need and is the maximum amount you can receive from state and federal need-based programs.
Finally, once financial need is determined, your application is considered initially for grant eligibility, then for loan or work-study, depending on your indicated preference. Students who submit the FAFSA to the Federal Processing Center by Feb. 15 are the first group for packaging.
Applicants are ranked in order of greatest need and awards are made on the basis of the size of financial need. If funds are still available after these students are awarded assistance, additional students are aided.
Students with significant changes in family income after filing their forms—death, disability, divorce, or other extreme circumstances—may request a special circumstance re-evaluation of their applications. Additional assistance may be awarded on the basis of available funds. Special Circumstances/Expenses Appeal Forms are available at the Office of Student Financial Assistance or online here under "downloadable forms."
Academic Requirements: Standards of Satisfactory Progress Policy
Basic Requirements
If you receive federal financial aid you are expected to maintain satisfactory progress toward your degree. Miami's Satisfactory Academic Progress Policy has the following components:
- You must meet the academic requirements necessary to remain at Miami as a student as outlined in The Miami Bulletin, General Edition in the chapters titled "Other Requirements," "Registering for Courses," and "Grades."
- You must pass at least 75 percent of the credit hours you attempt in any academic year in which you enroll and/or receive financial aid from any federal financial aid program.
- Undergraduate students are expected to complete their degree program with six full-time academic years. This maximum time frame includes all prior terms of attendance at Miami and any other college or university whether or not you received financial aid.
- Graduate students are expected to complete their degree program in five calendar years.
How We Measure Progress
We review your academic progress at the end of each academic year by comparing the number of credit hours you passed with the number you attempted at Miami University. If you passed at least 75 percent of the cumulative credit hours you attempted, your progress is satisfactory. If you passed less than 75 percent of the cumulative credit hours you attempted at Miami University, your progress is unsatisfactory.
Note: For the purpose of satisfactory academic progress, hours attempted are those hours for which you have received a grade of A, B, C, D, F, I, W, WP, WF, S, and Y.
At the end of each semester, we also check to make sure you have not exceeded the maximum term limit described above.
Denial of Aid
If your progress is unsatisfactory, you will be denied federal financial aid. You will also be denied federal financial aid if you fail to complete your degree program within the maximum time frame. You will receive written notification of the denial from the Office of Student Financial Assistance.
Satisfactory Progress Appeal
You may appeal the decision to deny financial aid if you believe extenuating circumstances prevented you from making satisfactory progress.
To appeal, write to the Office of Student Financial Assistance and explain the circumstances that prevented you from making progress. Include any pertinent materials or written documentation to support your appeal, as well as your plans to meet progress requirements if you are allowed to continue receiving aid.
You should file your appeal within three weeks of the date we notify you that your aid is denied. You must submit your appeal no later than the last day to drop a class without a grade for the term in which you appeal. We will notify you of our decision within approximately three weeks after we receive your appeal.
Regaining Eligibility
If you do not submit a written appeal or if your appeal is denied, you must complete course work at your own expense until you are once again maintaining a 75 percent completion rate.
You may complete course work at Miami or at another institution, provided the credits can be transferred to Miami and you did not receive federal financial aid at the other institution while taking those courses. Any credits earned and transferred to Miami must have been earned after the Miami term(s) in which your financial aid was denied.
When completing course work to regain eligibility, you may not repeat a course you previously passed and you may not test out of requirements in order to improve your completion percentage. However, any prior incomplete that you make up will count toward improving your completion percentage.
Change in Enrollment
You must inform the Office of Student Financial Assistance in writing of any change in your enrollment. If you drop from full time enrollment to less than full time your eligibility for aid may be reduced. Usually, you must be enrolled for at least six hours to be considered for any type of aid.
If you change your enrollment prior to the end of the drop/add period, your grant and loan eligibility will be recalculated based on the information you submit. You will receive a revised award notification listing any changes in your aid package.
At the end of the drop/add period, your financial aid will be frozen to reflect your enrollment as of that date. Be sure you are enrolled for all the classes you intend to take for the semester. Your financial aid will not be adjusted after the end of the drop/add period.
Withdrawal from the University
If you receive aid from federal programs but withdraw during a semester, some of your aid may be used to pay the bill for the portion of the semester you attended. As a result, you may fail to make satisfactory academic progress and jeopardize your federal financial aid. To make sure you understand the possible impact on your financial aid, you should consult with a financial aid counselor prior to withdrawing from the university.
Note: Recent changes to regulations governing federal financial aid may require you to return a portion of your financial aid to the federal government if you withdraw. Contact the Office of Student Financial Assistance for more information.
Academic Suspension or Dismissal
If you are suspended or dismissed for academic reasons, you may not receive financial aid until you are re-enrolled. When you apply for re-enrollment, contact the Office of Student Financial Assistance for information about applying for aid.
Additional Requirements for the Federal Direct Loan Program
If you have borrowed the maximum subsidized, unsubsidized, or PLUS loan amount at a given class level for two academic years in a row, you may be prohibited from borrowing additional funds until you advance to the next class level as defined below.
Freshmen - 29 or fewer attempted semester hours
Sophomores - 30 to 63 earned semester hours
Juniors - 64 to 95 earned semester hours
Seniors - 96 or more earned semester hours
Ohio Instructional Grant (OIG) Progress Requirements
You must be enrolled for at least 12 credit hours per semester to receive an OIG. You may receive this grant if you are an Ohio resident undergraduate pursuing a first degree at an eligible Ohio or Pennsylvania school. Seniors enrolled less than full-time, provided they are otherwise eligible, may receive OIG assistance during their last term before graduation.
Scholarships
Each year, Miami University receives contributions from alumni, parents, students, faculty, staff, and friends in support of the Miami University Scholarship Program, a comprehensive program of merit scholarships.
Administered by the Office of Student Financial Assistance, this program is designed to recognize outstanding undergraduates demonstrating high scholastic aptitude and attainment and personal characteristics of leadership, creativity, and motivation. Some scholarships also consider financial need.
Application Procedure
All students who apply for admission by December 1 and are admitted to Miami as freshman, are automatically considered for University scholarships.
Upperclass students who wish to be considered for scholarships must complete a scholarship application, which may be obtained in the Office of Student Financial Assistance or on our Web site around December 1. These applications are due January 31.
If you think you could qualify for a scholarship with financial need as a factor, you should complete the Free Application for Federal Student Aid (FAFSA) in addition to the scholarship application.
Criteria for Awards
Most scholarships awarded to incoming freshman are awarded to recipients who have scored 29 or better on the ACT (1280 on SAT I) and rank in the top 10% of their graduating class. Upperclass scholarship recipients normally earn at least a 3.5 cumulative grade point average and are active in and contribute to campus and community life.
To be eligible for scholarship consideration, you must plan to be a full-time student during the award period. Seniors graduating in December are eligible for scholarship awards during the semesters they attend. Transfer students are considered for scholarships after completion of at least one term at Miami.
Awards
Incoming freshmen are notified of their scholarship awards by the end of March. Upperclass scholarship recipients are notified by June 1. Awards are normally made for the academic year, starting with first semester. Scholarship amounts are determined by your success in the competition, your personal and academic record, and at times, your financial need.
Most scholarship recipients are notified by June 1. Students not receiving scholarships are notified after June 1.
Special Scholarships
Within the scholarship program, there are special award opportunities for eligible students.
Multicultural Scholarship Opportunities. A variety of scholarships, including funds for overseas study, are available to multicultural students with demonstrated academic merit. For detailed information contact the Office of Student Financial Assistance.
Scholar Leader Program. All upperclass students with 3.0 cumulative grade point averages who are interested in exploring leadership issues through academic and co-curricular activities and who will significantly contribute to a residentially based living-learning community are encouraged to apply for this program. Applicants must attend an information session. Application forms and additional information are available at the Student Leadership and Service Learning Office, 111 Warfield Hall (513-529-2961).
Miami is a sponsoring institution for the National Merit Program. Finalists who select Miami as their first choice institution and who have their Merit Scholarship sponsored by Miami will receive a Miami National Merit Scholarship ranging from $750 to $2,000, depending on financial need. In addition, all National Merit Finalists and all Achievement Scholars receive an additional Miami Scholarship in the amount of $3,750.
Awards are also available for high potential applicants in music and Naval and Air Force ROTC. Separate applications are required for these scholarships, awarded on a separate basis from the general program. Contact the Department of Music or the Naval or Air Force ROTC department for more information.
