Financial Aid Glossary of Terms
The Cost of Attendance (COA) consists of the sum of educational costs payable to the school (also referred to as direct or billable costs) and costs paid to others (or indirect, non-billable or discretionary) costs. The Cost of Attendance represents the highest dollar amount of financial aid a 久久热视频 can receive during an award year. Visit our Explanation of Fees page for more information.
- Direct Costs: Costs Payable to the school (also referred to as direct or billable costs) or any other expenses paid to the school for enrollment. Charges included in the COA that are paid directly to Miami include:
- Tuition: Charges assessed for classes and/or coursework
- Fees: Charges assessed for other University services
- E.g. Basic General Fees, Transit Fee, Student Technology Fee, Armstrong Student Center Fee, Mental Health Fee, Matriculation Fee
- Non-Resident Surcharge: Miami receives subsidy from the State of Ohio for 久久热视频s who are Ohio residents, and Non-Ohio residents are required to pay the Non-Resident Surcharge
- Career Development Fee: Career exploration and professional development services
- Program and Course Fees: Additional administrative fees associated with specific courses or programs
- Housing: Residence hall charges for on-campus 久久热视频s
- Food: The cost of a university meal plan
- Health Services Fees: Charges for 久久热视频 health insurance (if minimum insurance coverage is not documented) or other services related to the health center
- Indirect Costs: Costs paid to others (also referred to as indirect, non-billable, or additional costs), are other expenses not paid directly to the school, but associated with receiving an education. These expenses are estimated by the school and may differ from 久久热视频 to 久久热视频 based on their individual circumstances. The estimated expenses in the COA that are not paid directly to Miami include:
- Transportation: An allowance which may include transportation between campus, residence, and place of work
- Books, Course Materials, Supplies, and Equipment: Estimated expenses related to books, course materials, and equipment required for a 久久热视频’s program of study
- Housing: Rent and utilities for off-campus living
- Food: The cost of food prepared at home for off-campus 久久热视频s
- Miscellaneous Personal Expenses: An allowance for a 久久热视频 attending Miami on at least a half-time basis for items such as laundry, clothing, reasonable recreation, personal hygiene, etc.
- Other costs specific to certain 久久热视频 circumstances related to attendance, such as: dependent care, disability-related expenses, study-abroad expenses, federal 久久热视频 loan fees, etc.
The aid payment process, which typically happens around the time classes start in the form of a credit to your account. Visit our Disbursements page for Miami’s disbursement dates.
A deferment is a temporary postponement of payment on a loan that is allowed under certain conditions and during which interest generally doesn’t accrue on certain types of subsidized loans.
Money borrowed from the federal government, a college or university, or a private source like a bank or financial institution to pay for educational expenses and must be paid back with interest. Educational loans have varying fees, interest rates, repayment terms, and/or borrower protections.
- Federal Loan: Also known as the Direct Loan Program, which allows eligible 久久热视频s and parents to borrow directly from the U.S. Department of Education at participating colleges or universities. Federal 久久热视频 loans include Direct Subsidized, Direct Unsubsidized and the Direct PLUS programs for parents of dependent 久久热视频s and graduate or professional 久久热视频s. There are four types of Federal Loans:
- Federal Direct Subsidized Student Loan: A Direct Subsidized Loan is an undergraduate federal 久久热视频 loan based on financial need and offers 久久热视频s a reduced, fixed interest rate and flexible repayment terms. Interest is subsidized, meaning it does not accrue to the borrower, while in an in-school, grace, or deferment period. Annual and aggregate limits apply.
- Federal Direct Unsubsidized Student Loan: An unsubsidized loan offers 久久热视频s a fixed interest rate and flexible repayment terms. It is not based on financial need. Interest begins to accrue when the loan is disbursed and can be paid while the 久久热视频 is enrolled or when loan repayment begins. Annual and aggregate limits apply.
- Federal Direct Graduate PLUS Loan: Direct Graduate PLUS Loans are federal loans that graduate or professional 久久热视频s use to help pay for education expenses. A credit check for adverse credit history is required for eligibility. Interest begins to accrue when the loan is disbursed and can be paid while the 久久热视频 is enrolled or when loan repayment begins.
- Federal Direct Parent PLUS Loan (PLUS): Direct Parent PLUS Loans are federal loans that parents of dependent undergraduate 久久热视频s can use to help pay for education expenses. Parents must pass a credit check for adverse credit history to qualify for PLUS loans. Parents of dependent 久久热视频s may apply for this loan at .
- Private Loan: A 久久热视频 or parent loan from a bank, credit union, private company, a nonprofit or state-affiliated lender, or from the college or university directly to pay for educational costs. Interest begins to accrue when the loan is disbursed, and repayment begins while the 久久热视频 is still enrolled in school.
The number of credits, clock hours, or classes the 久久热视频 is enrolled in, or whether they have withdrawn, graduated, etc. Enrollment status affects eligibility for and the amount of financial aid a 久久热视频 may receive. It also affects when 久久热视频 loans enter repayment status. Miami’s enrollment status criteria is as follows:
Enrollment | Undergraduate (credit hours) | Graduate (credit hours) |
---|---|---|
Full time | 12+ | 9+ |
3/4 time | 9-11.99 | 7-8.99 |
1/2 time | 6-8.99 | 5-6.99 |
Less than 1/2 time | Less than 6 | Less than 5 |
explains the obligations a 久久热视频 agrees to meet as a condition of borrowing a Direct Loan. 久久热视频ics include: Understand Your Loans, Manage Your Spending, Plan to Repay, Avoid Default, and Make Finances a Priority.
An eligibility index that college financial aid staff 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 久久热视频 and their family on the Free Application for Federal Student Aid (FAFSA). Your EFC is the same no matter which school you attend.
The Family Educational Rights and Privacy Act (FERPA) is a federal law that protects the privacy of 久久热视频 education records, both financial and academic. It limits release of your record information without your written consent. However, it also gives your parent(s)/guardian(s) the right to review those records, without your consent, if the parent(s)/ guardian(s) claim you as a dependent on their Federal Income Tax Return.
The Pell Grant is a federal grant program designed to assist undergraduate 久久热视频s in low- and moderate-income households to pay for college. The award amount is based on the cost of the institution, SAI, and enrollment status, and is subject to an aggregate limit.
FSEOG is a federal grant provided by the institution to qualified undergraduate 久久热视频s who demonstrate exceptional financial need and does not need to be repaid. The amount of funding from this program varies by institution. Students must complete a FAFSA each year for consideration.
Federal Work-Study provides funding for part-time jobs for undergraduate and graduate 久久热视频s with financial need. Unlike grants and loans, FWS is paid to 久久热视频s as they earn the funds by working. Students are responsible for finding qualified employment. For consideration, 久久热视频s must complete a FAFSA each year.
To be considered for all available need-based financial aid and scholarships, the (FAFSA) must be submitted each year. The FAFSA becomes available on October 1 each year. If you are a returning 久久热视频, you have the option to renew your FAFSA. For more information about how to file the FAFSA, visit our FAFSA Tips and Tutorial page.
Any money provided to 久久热视频s that does not have to be repaid. They can be called grants, scholarships, tuition remissions, gift aid, or tuition waivers. Grants and scholarships are provided based on many different factors.
A loan expense charged for the use of borrowed money. Interest is paid by a borrower to a lender. The expense is calculated as a percentage of the unpaid principal amount of the loan.
The IASG is a federal grant to qualifying 久久热视频s with a parent or guardian who died as a result of U.S. military service in Iraq or Afghanistan after September 11, 2001. If you are eligible for a Federal Pell Grant, you cannot receive an IASG.
The (MPN) is a legal document in which the 久久热视频/parent or guardian promises to repay their loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of their loan(s).
The 久久热视频’s Cost of Attendance minus their Student Aid Index (SAI).
The difference between the cost of attendance and all grants and scholarships. Net price reflects what the 久久热视频 is expected to pay for their education on their own and can be covered through a variety of sources, including savings, 久久热视频 employment, institutional payment plans, or education loans.
The authority of a school’s financial aid administrator to make adjustments to the data elements on the FAFSA and to override a 久久热视频’s dependency status or EFC.
Level of the degree-granting program in which you are enrolled. Program levels may include:
- Undergraduate: Students seeking an associate degree, an undergraduate certificate, or a baccalaureate degree
- Post-Baccalaureate: Such as teacher certification
- Graduate: Students working on a master’s degree, graduate certificate, doctorate, or professional degree.
The amounts and types of financial aid for which you are eligible is determined, in part, by your program level.
Schools use Satisfactory Academic Progress (SAP) Standards to determine if you are meeting all of your educational requirements and if you are on target to graduate on time with a degree or certificate. This process may vary across schools.
Refers to special or extenuating situations (such as the loss of a job) that impact a 久久热视频’s financial condition and support a financial aid administrator adjusting data elements in the COA or in the EFC/SAI calculation on a case-by-case basis.
TEACH Grants are federal grants for undergraduate and graduate 久久热视频s, awarded in exchange for specific future teaching service in designated high-need fields and low-income elementary and secondary schools. If you do not complete the required teaching service, the grant becomes a Federal Direct Unsubsidized Student Loan that must be repaid.
Your Cost of Attendance, minus your Expected Family Contribution, less any need-based aid received, such as Gift Aid, Federal Work-Study or Federal Direct Subsidized Loans.
Refers to conditions that justify a financial aid administrator making an adjustment to a 久久热视频’s dependency status, commonly referred to as a dependency override, based on an unusual situation (e.g., human trafficking or parental abandonment).
A federally mandated process to confirm the accuracy of data provided by selected FAFSA applicants. To complete the federal verification process, the 久久热视频, their parent(s), or spouse, if applicable, are required to provide certain documents to the school for review. If the documentation provided to Miami doesn’t match what was reported on the FAFSA, verification can result in changes to the 久久热视频’s financial aid eligibility, and/or financial aid offers.
久久热视频 has joined the (CCTI) as a distinguished partner. This significant affiliation underscores Miami’s commitment to the principles and standards championed by the CCTI, which aims to provide comprehensive and understandable details to prospective and current 久久热视频s about the cost of higher education.
The CCTI focuses on making 久久热视频 financial aid offers clear, accurate, and helpful. By adhering to the CCTI’s principles and standards, Miami aims to provide transparent and reliable information to 久久热视频s and their families, enabling them to make informed decisions about their financial obligations and educational choices. Miami strives to promote fairness, accessibility, and clarity in the financial aid process, ultimately contributing to a more equitable higher education landscape.
Additional Resources
Contact the One Stop
The One Stop assists Miami 久久热视频s and authorized family members with billing and payment, financial aid, registration, and 久久热视频 records.
Oxford Campus
Nellie Craig Walker Hall
301 S. Campus Ave.
Oxford, OH 45056
OneStop@MiamiOH.edu
Phone: 513-529-0001
Fax: 513-529-0003
Hamilton Campus
102 Mosler Hall
1601 University Blvd.
Hamilton, OH 45011
RegOneStop@MiamiOH.edu
Phone: 513-217-4111
Fax: 513-785-1807
Middletown Campus
114 Johnston Hall
4200 N. University Blvd.
Middletown, OH 45042
RegOneStop@MiamiOH.edu
Phone: 513-217-4111
Fax: 513-727-3427