Terms and Conditions

Federal law requires that the University of Miami Office of Student Financial Assistance and Employment (OSFAE) obtain a student’s voluntary consent to participate in electronic transactions for all financial information provided or made available to student loan borrowers, and for all notices and authorizations to Federal Student Aid recipients.
 
What is e-Consent
 
CaneLink, the financial aid portal, and email are all considered official forms of communication for the University of Miami OSFAE. Our office uses these platforms to notify students of outstanding requirements, award packages, loan disbursements, and financial aid status. Using digital forms of communication is the most direct and efficient way to communicate with you regarding your financial aid, as such, financial aid students must first agree to the University of Miami Financial Aid Office's e-Consent policy before they can view their financial aid award in their portal.
 
Granting e-Consent allows students to have full access to their financial aid portal including the ability to:
 

• Review and accept or reject your financial aid online
• Receive electronic notification of loan disbursements- includes the amount, date of disbursement, and right to cancel the loan within 14 days of notice
• Reminder notices, including specific communication about your financial aid file
• Notice of federal aid opportunities which include eligibility requirements and how to apply

 
How to Provide e-Consent
 
Once a student has signed into their CaneLink account with their Cane ID and password, follow the steps below to navigate to the Terms and Conditions/e-Consent form.
 

• Open Financials from the side navigation
• Click on View Financial Aid
• Select the 2021+ aid year to reach the financial aid student portal
• Read the Terms and Conditions/e-Consent on the homepage of your portal
• Select the check box to agree
• Submit the form for the upcoming academic year

 
What happens if you don't consent
 
If you decide not to submit the Terms and Conditions/e-Consent you should be aware that no access will be allowed to your financial aid portal, and no electronic correspondence or email communication will be permitted with the Financial Aid office.
 

• All communication will be sent to your current mailing or permanent address that you have on file with UM. This may delay processing due to mail time.
• No email exchanges will be permitted and all request for information must be made in writing.
• Phone communication will be allowed if staff is able to verify the identity of the individual calling.

 
Note that manual, non-electronic alternatives will result in longer and delayed processing times and not all services may be available through non-electronic means.
 
What if you change your mind
 
A student may change their mind on e-Consent at any time by requesting to have the form reset in their financial aid portal.

Federal Title IV financial aid funds, which include Direct loans, will be automatically applied to any eligible pending charges on a student’s account. Eligible charges include tuition, fees, room/board, and other qualified educational expenses.
 
After eligible charges have been paid, there may be an excess of federal funds. Excess funds may be used to pay other pending University charges (i.e. health insurance fees, parking fees, library fines, etc.) but students must authorize the University to do so.
 
To authorize the Office of Student Account Services to apply your excess federal funds to any outstanding University charges:
 
1. Visit your CaneLink account
2. Under the “Finances” section, select “View Student Permission” from the drop-down menu and press Enter
3. Select “Grant Permissions”
4. Carefully review the permissions form and make your selection
 
Students may choose not to authorize the use of Title IV funds for these additional expenses. However, this may lead to remaining charges on their account, which they will then be responsible for paying.
 
Students can choose to opt out of the authorization process at any time by contacting ’Canes Central at canescentral@miami.edu. If you have questions, please contact ’Canes Central at canescentral.miami.edu to Submit a Case or call (305) 284-IBIS (4247).

The Online Financial Aid Department within the Office of Student Financial Assistance and Employment at University of Miami communicates with students by email. Students are responsible to monitor their CaneLink account and for checking their email account regularly. If a student misses an important deadline or loses eligibility because they did not resolve an outstanding issue, they cannot hold the Office of Student Financial Assistance and Employment at fault.

The students’ award may be “ESTIMATED” due to a variety of issues that will require resolution before their financial aid can be disbursed. The student will monitor any outstanding requirements on CaneLink and submit the necessary documentation as soon as possible. The student understands that if they fail to complete the financial aid process their financial aid eligibility may be affected or that they may not be eligible for a variety of funds that they may have received in previous years. Students understand that if the information submitted on their application is conflicting, it will/may change their financial aid award based on new information.

The total of all aid (loans, scholarships, tuition waivers, etc.) must not exceed the students' total cost of attendance. The student must understand that their eligibility may change if they receive funds from another source that is not included on their initial financial aid award. They must also understand the financial aid office will communicate with the changes and that they are required to review CaneLink frequently to understand how their award may have been affected.

The student must understand that if they receive an outside scholarship or institutional awards/scholarships that their award may be affected. The student will need to submit all information from the scholarship agency to the Online Financial Aid Department as soon as they are notified that they will be receiving additional funds. Loans may be adjusted at any point an over-award. A student's total aid cannot exceed the cost of attendance. Any scholarship funding received is included in the students' total aid amount. 

The student must understand that there are a variety of work study (federal and institutional) positions available on and off campus. It is the student's responsibility to find a suitable employment opportunity that fits their needs, areas of interest and academic schedule. Once they find an employer(s), they understand that they must complete a work study authorization form, I-9 form, W-4 form and a direct deposit authorization before they can begin work. They understand that if Federal Work Study is awarded as part of their financial aid package, the amount indicated is the maximum amount they may earn during the academic year. They also understand that the amount awarded is not a guarantee of employment and that if they apply too late in the hiring season, they may not find a suitable position to take advantage of the work study program.

The student understands that in order to be eligible for federal financial aid programs they must initially and continually meet satisfactory academic progress (SAP). University of Miami standards of SAP measure a student‘s academic performance both qualitatively and quantitatively by reviewing the following three areas of performance: completion rate for coursework enrolled, cumulative grade point average earned, and the maximum time frame to complete a degree. They understand that the Office of Student Financial Assistance and Employment is responsible for ensuring that they are meeting these minimum standards. The standards of SAP apply for all federal financial assistance programs.
 
They understand that if they fail to meet the minimum requirements to be eligible for financial aid, they will lose their eligibility at the end of the period of review. They will have the opportunity to appeal the loss of their financial aid; and if the appeal is approved, they will have one semester to improve their GPA and completion rate. They also understand that if their appeal is denied, there is no further recourse to reinstatement of their financial aid at this time. For further information on Satisfactory Academic Progress, please click here.

The student understands that financial aid funds are awarded with the expectation that they will complete the entire period of enrollment. They earn a percentage of funds that are disbursed based on the last day of attendance. If they decide to leave school before the end of the semester or designated period of enrollment, they understand that federal regulations require University of Miami to calculate the percentage and amount of “unearned” financial aid funds that must be returned. If they complete more than 60% of the enrollment period, they will have earned all of their eligibility for that period. They understand that this calculation may require them to repay funds to UM that have already been disbursed or credited to their student account.

The student understands that if they are awarded Federal Loans that they must complete an Entrance Counseling session and Master Promissory Note at http://studentaid.gov. They also understand that they must be enrolled at least half time, be making satisfactory academic progress, and meet all regulations that are required of them to receive their loan proceeds.

Financial aid funds are awarded with the expectation that the student will complete the entire period of enrollment.  A percentage of funds that are disbursed are earned with each day of class attendance. If a financial aid recipient must leave school before the end of the semester or designated period of enrollment, whether an official or unofficial withdrawal, federal regulations require the University of Miami to perform a Return to Title IV calculation to determine the percentage and amount of “unearned” financial aid funds that must be returned to the federal programs. For official withdrawals, the return to Title IV calculation will be completed within 30 days and the designated funds must be returned within 45 days from the date the university determined that the student withdrew. 
 
Unofficial withdrawal means that the student stopped attending classes or did not complete the withdrawal process outlined by the student’s academic department. Students with all failing grades at the end of the semester are considered to be unofficially withdrawn. The last date of attendance for unofficial withdrawals will be the midpoint of the semester. The University must determine the last date of attendance within 30 days of the end of payment period and return Title IV aid within 45 days from the determined date of withdrawal. There is no return of Non-Title IV aid for unofficial withdrawals. 
 
The University will be responsible for returning funds to the program(s) and may require the student to repay or owe funds that have already been disbursed or credited to their student account. The amount of aid to be returned is based on formulas established by the U.S. Department of Education. The student will be notified of the outcome of the calculation via e-mail. Title IV funds for online graduate students include Federal Direct Unsubsidized Loans and Federal Direct Graduate PLUS Loans.
 
If the student owes financial aid funds back to the University due to the return of the funds, the student must first speak with their UOnline Advisor or MHBS Online MBA Advisor, and then make any necessary payments and/or payment arrangements with ‘Canes Central.  A student who completes more than 60% of the enrollment period will have earned all of their federal aid eligibility for that period.
 
Failure to repay funds due to a federal program may affect future eligibility for financial aid at the University of Miami or any other institution a student may attend after withdrawing. 
 
Institutional fund eligibility is calculated in proportion to the tuition refund schedule published by the Office of Student Account Services.