So I filled out the FAFSA today with last years tax information and had an expected high EFC of over 21k. How is Miami with need based aid? Do they typically cover the full gap and what is the usual distribution of grants, loans, work-study, etc?
Miami’s COA for 2014-15 was roughly 25,500 for in-state, not sure for oos. I wouldn’t count on any significant merit/grant/gift/scholarship aid beyond what was offered in the initial merit aid letter. Don’t expect MU to cover the gap between your EFC and COA. You’ll likely get offered a unsubsidized fed loan up to $5500 and be expected to manage the rest. My best guess is work study and subsidized loans are going to offered to students with EFCs much lower.
Unlike some colleges that offer institutional aid to help fill the gap, but then reduce the aid if your child earns outside scholarships, Miami doesn’t reduce your merit aid if external scholarships are earned. So a great option is to encourage your child to pick up as many of those local service organization and community scholarships as possible.
Best bet is to call Financial Aid. Have your student’s Banner ID number from the admission email message. With the Banner ID (MU’s ID number for your child), Financial Aid can steer you to the correct Student Financial Assistance Counselor assigned to your student. I have been very pleased with the responsiveness of Miami’s financial aid office. The director is an MU alum and runs a tight ship.