You must be a US citizen or resident alien and have not defaulted on a prior student loan.
If you are applying to the joint master's program with Florida International University, you will complete your financial aid through them.
Over 88% of our students already have college degrees from universities. The problem is their degree didn't lead them to their dream job. Miami Ad School's goal is to provide you with skills, opportunities, experiences and a network of industry contacts you can use to launch your career. So the question isn't "is it worth it?" but do you think you're worth it?
Scholarships are available to Miami Ad School students during different times of the year. These scholarships do not have an open enrollment period. All students will be notified when a specific scholarship becomes available. For further questions contact Saul, the Director of Financial Aid: Saul@miamiadschool.com.
The Department of Education considers a student to be "dependent" based on the student's age. The questions that determine whether you are a dependent or independent on your FAFSA are questions 48 through 60, if you can answer yes to any of these questions, and provide the necessary documentation, then you are considered to be an independent student and you will not be asked for you parents' information.
Under the Department of Education's FAFSA guidelines, if you have already obtained a bachelor's degree or higher and you re-enroll in an undergraduate level program, the school cannot award Federal Pell Grants regardless of a student's financial need.
We have an automated system to process a FAFSA application; you must complete a student financial aid interview on the school's website. Without the financial aid interview we will not be able to process your FAFSA.
Once your FAFSA has been processed you will receive, by email, a financial aid award letter. Once you receive the award letter, the funds will be posted into your student account as a pending disbursement and will be applied toward your tuition balance. You are responsible for any remaining balances.
There are two types of federal student loans: subsidized and unsubsidized. Subsidized federal loans are loans where the government pays the interest that accrues on your loan. You must have a financial need to receive a subsidized loan. Financial need is calculated by the Department of Education based on the answers you provide on your Free Application for Federal Student Aid (FAFSA). For unsubsidized federal loans, it is not necessary to prove any financial need but you are responsible for the interest which accrues on your loan. These programs require the filing of a FAFSA. Deadlines for the FAFSA are 30 days before the start date but we encourage you to start the process much sooner.
Student loans and grants are the way many US citizens and legal residents cover their school and living expenses. If you already have an undergraduate degree, which most Miami Ad School students do, it is most likely your federal loans will generally cover most, but not all, of your entire tuition cost. Alternative funding or private loans are how most students cover the difference in financial aid coverage.
Alternative Funding Sources: These types of loans allow you to borrow for living and school related expenses up to the set cost of attendance. To qualify for these loans you must be a US citizen or permanent resident and have good credit. You must also be attending a Miami Ad School location within the United States.
Miami Ad School does not endorse any one lender. Each lender has a different loan approval criteria, fees and re-payment structure. We recommend you contact the lenders listed below and make an informed decision on which lender is best for you.
PNC Bank Resource Loan: 800-851-2892
Sallie Mae Smart Option Student Loan: 888-272-5543
You will not be charged a late fee. Once you receive the award letter we post the funds on your student account; you are only responsible for any remaining balances.
Most private student loans are disbursed directly to the school. We will set up the disbursement dates for 10 Days before the scheduled start of a quarter. Once we receive payment from your bank it will be processed and a check will be issued in your name and sent to your Base School where you can pick up the check.
Yes, qualifying students can receive financial aid for their entire time at Miami Ad School. Traditional financial aid covers two semesters at a time which is equivalent to a scholastic year of nine months. Miami Ad School operates on a quarter system, so three quarters is the equivalent of the financial aid award year. This means that after your third quarter, you will renew your financial aid for the following three quarters and finally, for the last two quarters at Miami Ad School.
The US government does not extend student loans to international students. But, if you're Swedish you're in luck! The Swedish government provides financial support to its citizens studying abroad.
Yes, students can use Florida Prepaid College Plan funds to attend Miami Ad School.
To be eligible for the SELF program, a student must be a Minnesota resident who is enrolled at the school in Miami with a signed operating agreement from the Office of Higher Education, have a credit worthy co-signer and not be delinquent or in default on a SELF or other outstanding student loan(s).
How Does the Program Work?
Prior to applying, students are required to seek other sources of federal, state, institutional, or private aid for which they might be eligible. The campus financial aid administrator then determines the total amount a student may borrow and recommends a loan amount. The maximum cannot exceed the price of attendance minus all other financial aid that the student is eligible to receive.
What is the Maximum Loan Amount?
Borrowers are required to pay interest quarterly while in school.
After graduating or leaving school, borrowers are required to pay the monthly interest for up to three years; then they will begin repaying the loan principal as well as interest monthly. Repayment is usually seven to nine years. Borrowers with SELF IV loans and balances of $18,750 and greater may have longer repayment periods.
The interest rate charged to the borrower changes throughout the life of the loan, and can change every three months.
For exact details go to: www.ohe.state.mn.us/self/self.cfm