OFFICE OF FINANCIAL AID

The 2026-2027 Free Applications for Federal Student Aid (FAFSA) are now available!
Don’t wait, apply now at www.StudentAid.gov
School Code: 041284

Financial Aid

Miami Regional University provides financial assistance to those who qualify. The Office of Financial Aid assists students in obtaining financial aid available to fund their education. Financial Aid representatives are available to assist students through a combination of onsite and offsite operations.

Financial aid is any grant, loan or scholarship to assist a student in meeting their University expenses. Federal and state agencies and/or the University itself usually provide funding. Most financial aid is based on the student’s financial need as determined by the federal government’s system of need analysis. Financial need is based on federal regulations and information provided by the student and/or student’s family on the Free Application for Federal Student Aid (FAFSA). The amounts and types of financial aid that a student can receive are determined by federal, state and institutional guidelines. Students who wish to be considered for financial assistance offered by/through the University must complete and submit the FAFSA.

General Eligibility

Be a U.S. citizen, permanent resident of the U.S., or an eligible non-citizen with a valid Social Security number
Must not be simultaneously enrolled in elementary or high school
Must have received a high school diploma or GED certificate
Admitted into a degree, certificate, or other program leading to a recognized educational credential
Maintain Satisfactory Academic Progress
Not be in default for any Title IV loan at any institution
Not have had federal benefits suspended due to a drug conviction

Financial Need

What is “Financial Need”?
Financial Need is the difference between the Cost of Attendance (COA) and your Expected Family Contribution (EFC). While COA is a standard amount, the EFC is based on the student’s (and parental information if student is dependent) information provided on the FAFSA. Financial Need determines how much need-based Financial Aid you can receive in your Financial Aid package (awards).

Cost of Attendance (COA) – Expected Family Contribution (EFC) = Financial Need

What is considered need-based aid?
Need-based aid is financial aid that you can receive if you have financial need and meet other eligibility criteria. You can’t receive more need-based aid than the amount of your financial need. For instance, if your COA is $12,000 and your EFC is 6000, your financial need is $6,000; so, you aren’t eligible for more than $6,000 in need-based aid.

The following are the need-based student aid programs:

Federal Pell Grant
Federal Supplemental Educational Opportunity Grant (FSEOG)
Direct Subsidized Loans

What if my EFC is higher than my COA?
Non-need based aid is available as well in the event that you do not show “Financial Need”. MRU determines how much non-need-based aid you can get by using this formula:

Cost of Attendance (COA) – Financial Aid Awarded So Far* = Eligibility for Non-need-based Aid

*Includes aid from all sources, such as scholarships, etc.

Non-need-based aid is financial aid that is not based on your EFC. What matters is your COA and how much other assistance you’ve been awarded so far. For instance, if your COA is $14,000 and you’ve been awarded a total of $8,000 in need-based aid and private scholarships, you can get up to $6,000 in non-need-based aid. Your total Financial Aid package includes the total you receive in need-based and non-need-based aid.

The following are the non-need-based federal student aid programs:

Direct Unsubsidized Loans
Federal Parent PLUS Loans
Federal Graduate PLUS Loans

What if my EFC does not reflect my household’s ability to pay?
In certain “special circumstances” the Office of Financial Aid has to ability to consider changes to a student’s (and family’s) financial situation. If you have had significant changes in your financial or household situation since your last tax reporting year, you can petition the Office of Financial Aid to have this situation considered. For more information on this process, contact the Office of Financial Aid for a list of documentation they will need. It is important to note that this is a petition and is subject to the approval of the Office of Financial Aid, it may or may not result in a change in eligibility.

Student Loan Code of Conduct

To ensure the highest ethical standards, the Department of Education requires that a “Student Loan Code of Conduct” be published and maintained by all financial offices. Following is the official policy at Miami Regional University. At MRU, we never have and will never:

Accept payment from any outside entity in exchange for loan referrals or preferential treatment.
Accept gifts from any outside entity in exchange for loan referrals
A gift is defined as: any gratuity, favor, discount, entertainment, hospitality, loan, or other item having monetary value of more than a de minimums amount.
A gift IS NOT:
- A brochure used for default aversion or financial literacy
- Food, training, or informational material provided as part of training to improve service Entrance or Exit Counseling assistance that does not promote a lender
- Philanthropic contributions unrelated to loans
- State education grants or scholarships
Accept consulting fees or other contractual financial benefit from a provider of student loans.
Intentionally delay certification of loans from any lender or automatically assign students to a particular lender.
Accept a pool of funds from a lender to establish a University Loan in exchange for federal loan referrals.
Accept services or staffing assistance from any outside entity in exchange for referrals or preferential treatment.
Accept compensation in exchange for appointments to advisory committees or boards of any entity involved in the processing of alternative student loans.

NSLDS DISCLOSURE

Required Disclosure Information for Borrowers

In accordance with HEOA 489 Amended HEA Sec. 485B, Miami Regional University is required to disclose to all borrowers that any federal loan borrowed by a student or eligible parent will be submitted to the National Student Loan Data System (NSLDS). The information reported to NSLDS will be accessible by guarantee agencies, lenders, and institutions determined to be authorized users of the data system. Borrowers may review their loan history and information at any time by doing the following:

To access your student loans on the NSLDs, visit https://studentaid.gov
Choose Log In
Enter your FSA ID & Password
Accept the Terms and Conditions
After you’ve entered the system, hover over your name which is in the top right of the screen.
Select My Aid
Next, select Download My Aid Data, which is to the right
The next window informs you to protect the downloaded file, which contains personally identifiable data and financial information. It is advisable to download this in the privacy of your home and not at public internet locations. Select Continue.
This downloaded text file can now be sent to your financial advisor for analysis and recommendations based on your specific goals. Again, please protect this file as it contains personal financial information about your student loans.

Grants

Federal Pell Grant
The Federal Pell Grant is a federal grant awarded based on financial need and does not need to be repaid. In order to apply for the Pell Grant, students must complete a Free Application for Federal Student Aid (FAFSA). The FAFSA is available on-line at https://studentaid.gov/fsa-id/sign-in/landing .

Federal Supplemental Educational Opportunity Grant (FSEOG):
FSEOG is available for students with exceptional financial needs, which means students with the lowest Expected Family Contributions (EFC). This program gives priority to students who receive Federal Pell Grants with the lowest EFC. An FSEOG award does not have to be repaid.

Loans

Federal Direct Loan Program (FDLP)
Miami Regional University participates in The Federal Direct Loan Program (FDLP) which allows students and their parents to borrow money to help with their educational costs. These loans must be paid back with interest.

Subsidized Direct Loan
A subsidized loan is awarded on the basis of financial need (need is the budgeted Cost of Attendance less estimated financial aid). The federal government pays interest on the subsidized loan until repayment begins and during authorized periods of deferment. Repayment begins six months after student graduates, when enrollment drops below half-time status, or when a student withdraws from the University. Students’ borrowers of federal loans must also satisfy exit loan counseling requirements. To apply, students should contact the University’s Office of Financial Aid.

Unsubsidized Direct Loan
An unsubsidized loan is not awarded on the basis of need. The borrower is charged interest from the time the loan is disbursed until it is paid in full. In addition, until repayment begins and during authorized periods of deferment, the unsubsidized loan borrower has the option to pay the interest or allow the interest to accumulate. Accumulated interest will be added to the principal amount of the loan and will increase the amount the borrower must repay. Repayment begins six months after student graduates, when enrollment drops below half-time status, or when a student withdraws from the University. Students’ borrowers of federal loans must also satisfy exit loan counseling requirements. To apply, students should contact the University’s Office of Financial Aid.

Federal Direct Parent Loan (PLUS) for Loan Program
Federal Direct Parent Loan for Undergraduate Students (PLUS) loans are for parents of dependent students who want to borrow to help pay for their children’s education. A mandatory credit check is completed as eligibility for this loan depends on the borrower’s credit worthiness. This is an unsubsidized loan where the borrower is charged interest from the time the loan is disbursed until it is paid in full. In addition, until repayment begins and during authorized periods of deferment. Repayment begins 60 days after the loan is disbursed. For additional information, students should contact the University’s Office of Financial Aid.

FEDERAL DIRECT PLUS LOANS (GRAD PLUS LOAN)
The U.S. Department of Education makes Direct PLUS Loans to eligible graduate or professional students through schools participating in the Direct Loan Program. To receive a grad PLUS loan, a student must be a graduate or professional student enrolled at least half-time in a program leading to a graduate or professional degree or certificate; not have an adverse credit history (unless the student meets certain additional eligibility requirements); and satisfy the general eligibility requirements for federal student aid. For additional information, students should contact the University’s Office of Financial Aid.

Private Financing Programs

Private financing programs are available to help students meet the costs of education by providing long-term financing options. Students should exhaust all federal Title IV assistance available, including the Federal Direct Stafford Loan and the Federal Direct Graduate PLUS Loan, before considering a private student loan program. The repayment terms of federal programs may be more favorable than the terms of private loan programs. Federal student loans are required by law to provide a range of flexible repayment options, including, but not limited to, income-based repayment and income-contingent repayment plans, and loan forgiveness benefits, which other student loans are not required to provide. Federal Direct Loans are available to students regardless of income. For additional information, students should contact the University’s Office of Financial Aid.

Other Financial Options

Payment Plans with no interest are also available to all active MRU students. Students may apply to other financial providers, such as the Florida Department of Veterans for Benefit of Education and Training if qualified. We also offer online services to active and new students through our secure document upload system. Please contact our office to set-up your online file.

Contact Us

The Office of Financial Aid is happy to assist you and your family with questions about how to apply for financial aid, eligibility criteria, and loan repayment.