Tuition & Financial Information
The following list of charges is effective for the 2011-2012 academic year. The Full-Time MBA Program requires a completion of 56 credit hours, students will pay a total of 48 credits (12 credits per semester). The cost per credit hour and additional university fees for the 2012-2013 academic year have not yet been determined. The University reserves the right to change tuition and fees or any other charges anytime.
| Application fee | $100 | |
| Tuition | - per credit hour | $1,600 |
| Deposit Requirement |
- one time fee | $1,000* |
| Student Activity Fee |
- per semester | $40** |
| Athletic Fee |
- per semester | $59*** |
| Student Health & Counseling Fee |
- per semester | $100** |
| Student Wellness Center | - per semester | $146*** |
Estimated expenses for the first year of graduate study - FY 2010-2011
| Tuition ($1,600.00 per credit hour) | U.S.- $38,400.00* |
| Program Administration Fee | $500.00* |
| Fees | $896.00 |
| Books and Supplies | $730.00 |
| Housing and Meals |
$10,030.00 |
| Medical Insurance |
$2,307.00**+ |
| Health and Counseling Center Fee |
$200.00 |
| Personal Expenses | $3,760.00 |
| Total |
$56,823.00 |
Additional Expenses
| Summer Living Expenses | $4,597.00 |
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* Upon admissions, a deposit is required to reserve your seat in the program. The deposit in non-refundable, of which $500 is applied to program administration fees and the remaining balance is applied to your first semester's tuition. |
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** Required of all full-time students. **+ Medical Insurance: All international students are required to purchase the medical insurance provided through the University of Miami Student Health Services. Email: student-health@miami.edu Website: www.miami.edu/student-health |
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| ***Optional for graduate students. | ||
Financial Assistance
Graduate Business School Scholarships
There are a limited number of merit-based Graduate Business School Scholarships which are awarded at the time of admission to qualified full-time students entering in the Fall semester. Awards are based on academic achievements, quality of work experience, and a competitive score on the GMAT test. Awards are limited and applicants are encouraged to apply early for consideration. Typically, a Graduate Business School Scholarships covers up to 75% of tuition for graduate business credits required for the student's degree. Graduate Business School Scholars' academic progress is reviewed on a semester basis. Graduate Business School Scholarships are not automatically renewed.
Fellowships and Donor Scholarships
In addition to Graduate Business School Schoarships, there are a limited number of Fellowships and Donor Scholarships which are awarded by Graduate Business Programs to applicants with outstanding academic credentials. Any applicant who wishes to be considered for a Graduate Business School Scholarship, Fellowship, or Donor Scholarship should indicate this in the space provided on the application. Awards are available to domestic and international students.
Several endowed scholarships are made available to incoming graduate business students on a one-time basis through the generosity of alumni and friends of the University of Miami School of Business Administration. These donor scholarships are for the purpose of recruiting students of high academic merit. The total number and amount of scholarship awards vary from year to year.
Scholarships will be awarded based on the recommendations of the Faculty Admissions Committee on a first come, first served basis. Since the number of scholarships is limited, students who meet the minimum criteria are not guaranteed a donor scholarship award.
- Emery Means Findley, Jr. Endowed Graduate Fellowships in Business is awarded to outstanding candidates in graduate business programs.
- Jack R. Borsting Graduate Scholarship Endowment is awarded to an outstanding candidate enrolled in a master's level business degree.
- NSHMBA (National Society of Hispanic MBAs) University Partnership Program Scholarship is awarded to applicants that demonstrate a commitment to the Hispanic community. Applicants for this award must be a United States Citizen or Legal Permanent Resident.
* A student is ineligible for financial awards if he/she receives tuition benefits from the University of Miami or has accepted any assistantship, scholarship, grant or fellowship from Graduate Business Programs in addition to the offer. This includes employees, their spouses and their dependents.
Need-Based Funds
Students applying for need-based assistance must submit the Free Application for Federal Student Aid (FAFSA) www.fafsa.gov. The Federal Perkins Loan, Federal Stafford Loan, and Federal Work-Study programs are based upon the financial need of the applicant and the availability of funds. Federal Stafford loans are available to students enrolled in five or more credit hours. The application priority deadline for Federal Perkins loans and Federal Work-Study is March 1.
Non-Need-Based Funds
The Unsubsidized Stafford Loan is a non-need-based federal loan program. The Free Application for Federal Student Aid (FAFSA) must be completed and submitted to the processors by students requesting this loan, even if no need is demonstrated.
For further information on the need-based and non-need-based loans and application procedures, contact the Office of Financial Assistance Services, University of Miami, P.O. Box 248187, Coral Gables, Florida 33124-5240; 305-284-5212 or apply online at www.fafsa.gov.
For additional information about loans, visit the Office of Financial Assistance Services Web site.
Monthly Payment Plan (MPP)
The University of Miami Monthly Payment Plan (MPP) allows a student to divide all or part of the annual educational expenses into convenient monthly payments that includes an additional 3% fee of the total plan amount. This plan combines the elements of a deferred payment and a prepayment plan (offered on an annual basis only). As the name implies, MPP is a pay-as-you-go budgeting plan. Instead of saving to make a single payment at the beginning of each semester, participants in the MPP can budget tuition, fees, and room-and-board payments as part of their regular monthly expenses.
Financial Aid for International Students
International students should investigate financial aid in their own countries. Government-sponsored scholarships, grants, and government educational loans may be available. The following publication may be helpful: A Selected List of Major Fellowship Opportunities and Aid to Advanced Education for Foreign Nationals. Write to the National Science Foundation, 4201 Wilson Boulevard, Room P-15, Arlington, VA 22230.
Additionally, there are a limited number of private loan programs for eligible international students to borrow money for their education. Most private programs require a credit-worthy U.S. citizen or permanent resident as a co-signer and other restrictions apply. International Education Finance Corporation offers financial assistance for international education. Their web site is www.iefc.com.
Statement of Financial Responsibility
(For Form I-20 or IAP66)
All international students require a student visa (F-1) and must submit a bank verification statement or an official letter of sponsorship in English from their government or agency. The bank verification must include the student's name and relationship to the sponsor, if other than the student, and verify that there are sufficient funds to cover the estimated expenses of two semesters of graduate studies listed on the enclosed estimated expense sheet. It is imperative that you begin this process immediately, due to the lengthy INS procedures involved.
If you wish to include your family, we will require the following: 1) in the bank verification or letter of sponsorship, list each family member's name, date of birth, country of citizenship and relationship to you, and 2) financial support of $8,113 for your spouse and $2,000 for each child per year.
The Certificate of Eligibility (I-20 Form) will be issued only once the above documentation is on file and the required deposit has been received to reserve your place in the program. The bank verification or sponsorship letter must be dated no more than 6 months prior to enrollment.
If you have any questions please feel free to contact us at 305-284-2510 or email mba@miami.edu .
