<p>For those students who are now at Miami who got the Coral Grant in the past, what happens with that the 2nd, 3rd, 4th years? Does it turn into some other grant? Do they renew as a Coral Grant? Just because the price tag looks good for freshman year, I want to make sure that if finances stay the same in the family, that it will be affordable in the future. Thanks for any info.</p>
<p>For future reference, the Coral Grant is renewable upon academic progress and financial need and early filing of FAFSA. Called ofsa this morning and they were helpful as always.</p>
<p>The coral grant as far as I know is not based on need per se. It is tuition specific so that if you get the Singer or Stamps then you wouldn’t " need it". That’s how it was explained to me.</p>
<p>
It is need-based according to their website: [Grants</a> | Enrollment Management | University of Miami](<a href=“http://www.miami.edu/index.php/office_of_financial_assistance/ug/ug_aid/ug_grants/#coral]Grants”>http://www.miami.edu/index.php/office_of_financial_assistance/ug/ug_aid/ug_grants/#coral)</p>
<p>Well, according to the woman I spoke to today, it is just another grant, different name! But, based on Fafsa, so it must be need based if it is based on fafsa! Either way…happy to have it! Happy it stayed the same after Gables was added…Just happy!</p>
<p>We weren’t eligible for any need based aid. So I don’t know. Maybe it’s different this year.</p>
<p>Forgive me. I’m getting the Coral grant and the gables award mixed up. Disregard my other posts.</p>
<p>Are both renewable? Their website says Gable/Miami Grant is but does not say anything about Coral? Please let me know.</p>
<p>As I mentioned in the other thread, I would guess (emphasis on guess) that the Coral is reviewed and possibly changed each year based on your family FAFSA submission. If your financials trend down, perhaps the Coral grant would go up. If you hit the lottery, perhaps it would go down. Just not sure…</p>
<p>From what I’ve experienced, the Coral Grant is just another grant they throw at you depending on financial need and it seems like there’s also a slight factor of how much of a difference it makes in you attending the university.</p>
<p>Here’s a quick synopsis of my story with the Coral Grant:</p>
<p>My original aid package that was first posted to myUM totaled $47k and included the Coral Grant for $11k. After Stamps weekend and me paying my enrollment deposit, my aid package was updated and the Coral Grant mysteriously disappeared altogether, but they added another $1k grant and increased my loan eligibility. So this was a net loss in $10k for my aid, which at this point was $37k. I emailed OFAS and asked if there was any particular reason the Coral Grant was revoked and they said “after further review they found I was no longer eligible.” I wasn’t sure what that meant, but it seemed a bit odd to me. </p>
<p>At this point I decided I’d wait to hear if I get Singer or Stamps… because if I did, then the Coral Grant wouldn’t matter. Turns out I didn’t get Singer/Stamps, so now I was stuck, having already paid my enrollment deposit and unable to afford the difference between my $37k in aid and the $53k cost of attendance. So I e-mailed and said that the random revocation (yes, random, since I hadn’t received a clear-cut reason as to why) of the Coral Grant put me in a bind. I paid my enrollment deposit on the basis of $47k in financial aid, yet after enrolling it dropped to $37k… sort-of a big problem when you’re low-income. </p>
<p>Long story short, in response to my e-mail outlining the predicament I was then in, I was told that the Coral Grant would be added back to my aid package, no questions asked. It re-appeared later that day.</p>
<p>So all in all, it’s weird that it was mysteriously revoked, and then re-added after I brought it up and described the impact it had on me – that is, the difference between attending or not. A possible explanation is that it’s money they have to throw at you if you truly need it and if it means you’ll attend. </p>
<p>Now with the Coral Grant back and the $4k Gables (for not getting Singer), I’m sitting at $51k, and satisfied that they managed to work with me and get things figured out.</p>
<p>What a happy ending. Thanks for sharing! It is clear that they really want you at UM! Glad it worked out.</p>
<p>@seekinguni: Do you mind me asking what your efc was? I am a transfer and waiting to see what I get back in financial aid. Also, was the $47,000 you received just on financial aid or did you get a merit scholarship?</p>
<p>I’m pretty nervous that my financial aid will be effected by my paying the enrollment deposit only a few days after my acceptance. I too am a transfer student and was advised by admissions to pay my deposit ASAP. I now worry that the school will see me as attending regardless of what I am given and it does seem that that is what happened to you @seekinguni, but I’m glad to hear how quickly they resolved that for you!</p>
<p>My story from last year (Reader’s Digest version) was that we too worried about some kind of integrated computer programs running behind the scenes tracking when enrollment deposits were sent and issuing block orders for the awarding of grants. In short I don’t think there is any such thing in play.</p>
<p>But, as we were paranoid last year, we waited until we heard the Singer results before sending in the deposit. The results were negative and we sent in our deposit on 3/7. Sixteen days later, out of the blue, we got notified that the financial information had changed and that D had been awarded a nice Miami Grant. So, even though UM could have assumed that my D was defintely attending, the FinAid office still offered her grant money.</p>
<p>I suppose one could make the case that up until May 1st we could have decided to go elsewhere and forfeit the $300 deposit, so maybe the offer of the grant was to convince her that UM really wanted her to attend - who knows.</p>
<p>I know my story doesn’t match some of yours (D was a Singer/Stamps candidate), but I think the activity we’ve seen reported here on CC by others in the way financial aid surprises appear leads me to believe ours was not an isolated case.</p>
<p>Bottom line: If you know you’re going to UM, pay the deposit and start buying things green & orange!</p>
<p>I agree with you Zinc - when you consider the cost of school is anywhere between 30 - 50k per year, does a $300 deposit really lock you in if you receive a great offer somewhere else? I don’t think so…it’s not like you’re paying the first year tuition at that point.</p>
<p>
My EFC is $0. If there was a such thing as negative EFC, mine would probably be in the negatives lol. The original $47,000 included my University Scholarship of $24,000 while the rest was grants.</p>
<p>
I wouldn’t be too worried this late in the process about your aid changing too much. Just make sure you have all of your required documents sent in before you send in your enrollment deposit, because without all your documents in, your aid will naturally fluctuate. Also, if you want, you could even e-mail/call the OFAS and ask what the chances of changing your aid are after you pay your deposit. Just pretend like you don’t know much about it and ask if it could potentially change after paying your deposit and see what they say. </p>
<p>A part of my story that I haven’t yet shared is that about a week ago (two weeks after they finally resolved my aid and got it back to where it was), they bumped up one of my grants even more so now my package totals $56k… I don’t know how/why it got so high and I think it’s even higher than what the university bill will be, but I did hear from someone that it may be accounting for an increase in tuition this year.</p>
<p>Seekinguni, who needs that silly Singer anyway!!! :)</p>
<p>True that malaml! I am perfectly content without the Singer now that I know they are this good with need-based aid (on top of the already-decent merit aid such as the University Scholarship). I have the merit and I have the need, so if need-based aid covers the costs for me, then that means someone who could really use the Singer is able to get it and it’s not wasted on me. Win-win for all!</p>