Financial Aid and Scholarships
There are many programs of assistance available from private, state, federal,
and university funds. We are committed to helping students—within the limits
of available funds—gain a college education even if their resources are
limited. To receive consideration for most programs, students and parents must
complete the appropriate forms. All information provided remains confidential.
Understanding which programs are available to students is complicated by the
many state, federal, and local agencies that set regulations for the use of the
funds. Students, as consumers of these funds, have the right under law to receive
clear, accurate information concerning aid programs.
For more information, contact the Office of Student Financial Assistance or
check online at www.muohio.edu/financialaid/. A brochure, Financing
Your Miami Education, is available from the Office of Student Financial Assistance and the
Office of Admission.
The Office of Student Financial Assistance can assist students in obtaining
need-based financial aid including: grants, awards based on financial need
that do not require repayment; loans, awards that require repayment; federal
part-time employment; and scholarships, for which some consider financial
need as a secondary factor. Any awarded aid is combined to meet a student's financial
need. The total amount of aid a student receives is based on their family's
financial circumstances. To be considered for all need-based financial aid, new
first-year students must complete the Free Application for Federal Student Aid
(FAFSA) by February 15 (for returning and new transfer students, the deadline
is March 15). A new or renewal FAFSA must be completed every
A student cannot receive any combination of aid, including loans, grants, federal
work-study, and scholarships, that exceeds the cost of attendance. If the total
amount of financial aid exceeds the cost of attendance, the amount of aid will
Students from low-income families are typically eligible for grants.
Generally, a student receives grant funds in combination with loans and/or federal
work-study jobs. Students with a disability may also be eligible for grants from
the Bureau of Vocational Rehabilitation.
The following grant programs are awarded
on the basis of a family's financial
circumstances; no repayment is required.
Federal Pell Grant — A federal grant
for undergraduate students. The maximum grant in 2008-2009 was $4,731 per year
for full-time students.
Federal Supplemental Educational Opportunity Grant (SEOG) — Federal
grant administered by Miami University for high financialneed students who are
also eligible for Pell Grants. A limited number of these grants are given in combination
with Pell Grant, loan, and/or federal work-study money.
Ohio College Opportunity Grant (OCOG) (formerly the Ohio Instructional Grant) — State
grant assistance for Ohio resident students with financial need. The OCOG award
amounts for 2008-2009 ranged from $300-$2,496. For incoming first-year Oxford
campus students who filed their FAFSA by our priority deadline, Miami provides
an award that matches the OCOG amount.
Miami Grant — Beginning fall 2008, the Miami Grant will be awarded
to Ohio residents admitted as new first-year Oxford campus students. This is strictly
a need-based grant, no academic criteria are considered. Students must file the
FAFSA by February 15.
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.
Miami University realizes that managing the cost of education is
a challenge for many families. In addition to grants, scholarships, and federal
work-study funds, several loan options are available. Loans may make it possible
for you and/or your family to borrow now and defer repayment until after you leave
Federal Perkins Loan — Eligible undergraduate students filing
the Free Application for Federal Student Aid (FAFSA) will be considered for a
Federal Perkins Loan. First priority is given to students
who file their FAFSA application by Miami's priority filing deadline of February
15 for new freshmen and March 15 for returning students. A Federal Perkins
Loan is a low interest (5 percent), fixed rate, subsidized, deferred payment loan
for students with financial need. Students are required to begin making payments
on their Perkins Loan nine (9) months after they graduate, leave school, or drop
below half-time (6 hours) enrollment. The amount borrowed must be repaid within
ten (10) years after the date repayment begins.
Federal Direct Subsidized and Unsubsidized Student Loans—All students
who file the Free Application for Federal Student Aid (FAFSA) are eligible for
a William D. Ford Direct Student Loan. Students may receive a Direct Subsidized
Loan, a Direct Unsubsidized Loan, or both for the same academic year.
The Direct Subsidized Loans are awarded based on a student's financial need.
With a Direct Subsidized Loan, the federal government pays any interest that accrues
on the loan during authorized periods of deferment (postponement of repayment).
The Direct Unsubsidized Loans are awarded based on the cost of education less
any 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 (as defined by federal needs analysis formulas) for
both the Direct Subsidized and Unsubsidized Loans are $3,500 for freshmen, $4,500
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 their undergraduate status. Aggregate loan limits exist for both
undergraduate and graduate study. The interest rate on both loans is fixed at
the time the loan disburses. New loan interest rates for subsequent years are
adjusted once a year on July 1. See www.muohio.edu/loans for the current interest
Students are required to begin making payments on their Direct Loans six (6)
months after they graduate, leave school, or drop below half-time (6 hours) enrollment.
Direct Plus Loans (for parents) —Direct PLUS loans help parents
pay their dependent child's educational expenses. Parents may borrow up to the
cost of attendance minus any other financial aid that the student receives. The
federal government charges interest from the date of the first disbursement until
the loan is paid in full. The interest rate on the loan is fixed at the time the
loan disburses. New loan interest rates are adjusted once a year on July 1. See
www.muohio.edu/loans for the current
interest rate. The parent is responsible for repayment of this loan. Repayment
begins sixty (60) days after disbursement of all loan proceeds for the academic
year are applied to the student's Bursar account. To apply for the PLUS, a FAFSA
must be submitted and a PLUS application must be provided to the Office of Student
Private Loans — 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. Private loans require
a good credit rating and/or a creditworthy co-signer; they do not require the
submission of a FAFSA. To inquire about private loan lenders, please contact the
Office of Student Financial Assistance or visit www.muohio.edu/loans for
Federal Work-Study (FWS) Employment
Federal Work-Study is a federal financial aid program that provides part-time
jobs for students with financial need, allowing them to earn money to pay for
education expenses. It is awarded based on financial need computed from information
provided on the Free Application for Federal Student Aid (FAFSA). As a financial
aid recipient, a student may be offered FWS as part of the financial aid package.
FWS earnings are not calculated in the expected family contribution on the upcoming
year's FAFSA. Employers often prefer hiring FWS students since a portion of the
employee's wage is drawn from federal funds.
Summer aid awards are based on any remaining financial aid eligibility from
the current academic year. Aid eligibility will be determined once a student registers
for summer courses, has a FAFSA on file, and has completed all requirements. Students
are only eligible for additional loan funds if they have the number of hours required
to advance in grade level by the end of the spring term. Generally, students cannot
use their Miami scholarships for summer semester. If all federal student loan
eligibility has been exhausted, the student may want to consider a private loan.
for Another University or Study Abroad Program
Students planning to enroll in programs
at other universities or study abroad programs that transfer academic credit back
to Miami 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
State 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.
Veterans Administration GI Bill information and certification
of attendance forms are available at www.muohio.edu/financialaid/veterans. Veterans
must immediately report any changes of their program (adds, drops, or withdrawal)
to the Office of Student Financial Assistance while receiving education benefits
from the VA. For further information about the GI Bill, visit www.gibill.va.gov.
To determine GI Bill eligibility, contact the Department of Veteran Affairs at
Additional financial assistance through programs described in this
section is available to most veterans.
The Office of Student Financial Assistance, coordinates all
student employment and student payroll registration. The two types of student
employment at Miami are Federal Work-Study (FWS) and regular wage employment.
Job classifications and wage rates are the same for each, but they are financed
differently. University employers do their own hiring and students are responsible
for finding a job. Information about campus employers, job postings, job classifications,
and wage rates, is available online at www.muohio.edu/studentemployment.
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 non-citizen as defined on the FAFSA.*
registered for Selective Service, if required.
- Be working toward a degree
or certificate in an eligible program.
- Be able to demonstrate financial need
(except for certain loans); see Applying for Assistance below.
- Maintain satisfactory
- Certify that you are not in default on any federal student
loan or owe a refund on a federal grant.
- Have a valid Social Security number
(unless you are from the Republic of Marshall Islands, the Federated States of
Micronesia, or the Republic of Palau).
- Certify that you have not been convicted
of an offense involving either the possession or sale of illegal drugs that occurred
while receiving Title IV aid.
- Certify that you will use federal student financial
aid only for educational purposes.
*Note: Most international students do not meet citizenship requirements for aid
programs administered by the Office of Student Financial Assistance. Contact
the Office of Admission for information about financial assistance.
Applying for Assistance
Students must apply for financial assistance annually. For need-based aid,
grants, and scholarships, complete a Free Application for Federal Student Aid
(FAFSA) online (www.fafsa.ed.gov). To be considered a priority applicant for all
need-based financial aid, new first-year students must complete the Free Application
for Federal Student Aid (FAFSA) by February 15 (for returning students and new
transfer students, the deadline is March 15). A FAFSA must be completed every
Determining Your Financial Aid Package
A student's financial aid package is processed in this order:
First, we estimate the student's Cost of Attendance (COA) based on his or her
residency status, the campus that will be attended, and the student's enrollment
status. The COA includes instructional and general fees, room and board, books
and supplies, transportation, and miscellaneous expenses.
Second, after receiving
the FAFSA data from the Department of Education, we use the reported Expected
Family Contribution (EFC) that reflects the family's ability to contribute to
educational costs to calculate the student's eligibility for need-based aid. We
then subtract the Expected Family Contribution (EFC) from the Cost of Attendance
(COA) to determine the student's financial need.
Finally, once financial need is
determined, the student is considered initially for grant eligibility, then for
loan and federal work-study, depending on the student's indicated preference on
the FAFSA. Students who submit the FAFSA to the Federal Processing Center by February
15 for new first-year students and March 15 for returning students are the first
groups for packaging.
Applicants are ranked in order of greatest need and awards
are made on the basis of the amount of financial need.
Students who are awarded
scholarships will be sent a separate Scholarship Award Notification.
significant changes in family income (death, disability, divorce, or other extreme
circumstances) after filing their FAFSA may request a re-evaluation of their application.
Additional assistance may be awarded on the basis of available funds. Special
Circumstance(s) Appeal Forms are available at the Office of Student Financial
Assistance or online at www.muohio.edu/financialaid under "forms."
Standards of Satisfactory Academic
A student receiving federal financial aid is expected to maintain satisfactory
progress toward their degree. Miami's Satisfactory Academic Progress Policy
has the following components:
- A student must meet the academic requirements necessary to remain at Miami
as a student as outlined in The Miami Bulletin, General
Edition in the sections
titled "Other Requirements," "Registering for Courses," and "Grades."
student must pass at least 67 percent of the cumulative credit hours attempted.
- Undergraduate students are expected to complete their Bachelor's degree program
in twelve (12) semesters. This maximum time frame includes all prior terms of
attendance at Miami and any other college or university whether or not they received
- Graduate students are expected to complete their Master's
degree program in ten (10) semesters.
How We Measure Progress
We review a student's academic progress at the end of each academic year by
dividing the total number of credit hours passed by the total number attempted.
Our review is based on a student's entire enrollment history at Miami. If a student
passed at least 67 percent of the cumulative credit hours attempted, their progress
is satisfactory. If a student passed less than 67 percent of the cumulative credit
hours attempted at Miami University, their progress is unsatisfactory.
Note: For the purpose of satisfactory academic progress, hours attempted
are those hours for which a student received a grade of A, B, C, D, F, I, U, W,
S, X, and Y. If the student received the academic fresh start, all hours attempted
prior to the fresh start are considered in the SAP calculation. If the student
repeated courses, those hours will be included as additional attempted hours.
If the student's grade changed, their eligibility for aid could be re-calculated
based on an increase in earned hours. This would include having an "I" changed
to a passing grade.
At the end of each academic year, we also check to make sure
the student has not exceeded the maximum term limit described above.
If a student's progress is unsatisfactory, their federal financial aid will
be denied. Students will also be denied federal financial aid if they fail to
complete their degree program within the maximum time frame. Students will receive
written notification of the denial from the Office of Student Financial Assistance.
Academic Progress Appeal
Students may appeal their suspended or terminated financial
aid if they believe extenuating circumstances prevented them from making satisfactory
To appeal, complete a Satisfactory Academic Progress Appeal Form and
return it with all the required documentation to the Office of Student Financial
Students should file their appeal within three weeks of the date they
are notified that their aid is suspended or terminated. Students must submit appeals
by the published date for the term in which they are appealing. We will notify
a student of our decision within approximately three weeks after we receive the
appeal and all documentation.
Students who do not submit a written appeal or if their
appeal is denied, must complete course work at their own expense until they are
once again maintaining a 67 percent completion rate.
Students may complete course work at Miami or at another institution, provided
the credits can be transferred to Miami and they 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 financial
aid was denied.
When completing course work to regain eligibility, students may
not repeat a course previously passed and may not test out of requirements in
order to improve their completion percentage. However, any prior Incomplete (I)
grade that is made up will count toward improving the student's completion percentage.
A student's initial award is based on full-time, full-year enrollment.
Students must inform the Office of Financial Assistance in writing if their intended
enrollment is less than full time or less than a full year. Adjustments to aid
must be made before funds will disburse to a student's Bursar account. Usually,
a student must be enrolled for at least six hours to be eligible for any type
In the case of students who change their enrollment prior to the end of the
drop/add period, their grants and/or loans will be recalculated based on the enrollment
information submitted. Students will receive a revised award notification listing
any changes in their aid package.
At the end of the last day to drop a course without
a grade, the student's financial aid will be frozen to reflect their enrollment
as of that date. Students should make sure they are enrolled for all the classes
they intend to take for the semester.
Withdrawal from the University
If a student received federal assistance from
any Federal Aid Program (the Federal Perkins Loan, Direct Loan, Federal Pell Grant,
Academic Competitiveness Grant, National SMART Grant, SEOG, or TEACH Grant programs)
and withdraws from the university during the semester that they began attendance,
Miami is required to determine the amount of federal aid that they have earned
as of their withdrawal date.
The withdraw date will be the date that official notification was provided
to Miami, in writing or orally, of the student's intent to withdraw. If the student
ceases attendance without providing official notification of withdrawal, the
withdrawal date will be the mid-point of the semester.
The percent of federal aid that was earned by the student is equal to the percent
of the semester that was completed, as of the withdrawal date, if this date occurs
on or before completion of 60 percent of the semester. If the withdrawal date
is after completion of 60 percent of the semester, the student will have earned
100 percent of their federal aid.
The percentage of the semester completed is determined
by dividing the total number of calendar days in the semester into the number
of calendar days that the student completed as of the withdrawal date. Scheduled
breaks of at least five consecutive days are excluded from the total number of
calendar days in the semester.
If the total amount of federal aid earned by the student is less
than the amount of federal aid that was disbursed to the student, the difference
between these amounts will be returned to the government.
Miami will return the
total amount of unearned aid to the government for the student. These unearned
funds will be credited to the outstanding balances on federal loans made to the
student or on behalf of the student for the semester in which the return was required.
The order for return of funds is as follows: Federal Direct Unsubsidized Loan,
Federal Direct Subsidized Loan, Federal Perkins Loan, Federal Direct PLUS (received
on behalf of the student), Federal Pell Grant, Academic Competitiveness Grant,
National SMART Grant, SEOG, TEACH Grant.
Withdrawing will also affect the student's
Satisfactory Academic Progress and may jeopardize federal financial aid eligibility.
To make sure that the possible impact on financial aid is understood, the student
should consult with a financial assistance counselor prior to withdrawing from
Academic Suspension or Dismissal
Students suspended or dismissed for academic
reasons, may not receive financial aid until they are re-enrolled. When students
apply for re-enrollment, they should contact the Office of Student Financial Assistance
for information about applying for aid.
Administered by the Office of Student Financial Assistance, the scholarship
program is designed to recognize outstanding undergraduates demonstrating high
scholastic aptitude and attainment and personal characteristics of leadership,
creativity, and motivation. While all scholarships are based on academic merit,
some scholarships also have financial need as a requirement.
Students cannot receive a combination of aid, including loans, grants, federal
work-study, and scholarships, which exceeds their cost of attendance. If the total
amount of financial aid exceeds the cost of attendance, the amount of aid will
All students who apply for admission by January 31 and are admitted
to Miami as freshman, are automatically considered for university scholarships.
Those students filing the FAFSA by the February 15 deadline will also be
considered for the Miami Grant and other need-based scholarships.
Returning students who wish to be considered for scholarships must complete
a Returning Student Scholarship Application. The Returning Student Scholarship
Application is available in November and the deadline to submit an application
is March 15. Applications can be obtained from www.muohio.edu/financialaid or
from the Office of Student Financial Assistance.
A renewable scholarship is also available for transfer students who have demonstrated
academic merit and significant need. A student must have submitted a FAFSA and
also have a 3.50 g.p.a. based on 12 credit hours from an accredited school. Students
enrolled less than full time, attending the regional campuses, or have a previous
Bachelor's degree are not eligible. Transfer students who are members of Phi Theta
Kappa, International Honor Society of the Two Year College, will be offered a
$2500 renewable scholarship. Members must provide membership documentation.
be considered for need-based scholarships, returning and new transfer students
must submit the Free Application for Federal Student Aid (FAFSA) by March
Criteria for Awards
Most scholarships awarded to incoming freshman are awarded to recipients who
have scored 30 or better on the ACT (1320 on SAT I) and rank in the top 10 percent
of their graduating class. Returning Student Scholarship recipients normally earn
at least a 3.80 cumulative grade point average and are active in and contribute
to campus and community life. To be eligible for scholarship consideration, students
must plan to be a full-time student during the award period.
Incoming freshmen are notified of their scholarship awards at or near the end
of March; returning students will be notified by mail prior to July 1. Awards
are normally made for the academic year, starting with the fall semester.
Within the scholarship program, there are special award opportunities for eligible
students. For information about these scholarships, go to www.muohio.edu/financialaid and click on "Scholarships."
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