Understanding Your MiamiLaw 2013-2014 Financial Aid Shopping Sheet

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The Financial Aid Shopping Sheet contains estimated figures based on the information you reported on the FAFSA. This Shopping Sheet is meant to be a consumer tool; however, it is not meant to replace your financial aid award letter. As previously indicated, the Shopping Sheet was designed by the U.S. Department of Education and was not developed with graduate and professional students in mind. The Shopping Sheet is not required for graduate and professional students; however, it is required for identified active military service members, veterans or their family members who may receive federal education benefits.

Therefore, it is important to note the following items on the Shopping Sheet:

  • In the Grants and Scholarships area the "N/A" indicates that graduate and professional students are not eligible for a Federal Pell Grant.
  • In the Loan Options area the "N/A" indicates that graduate and professional students are not eligible for a Federal Subsidized Stafford Loan.
  • The Federal Unsubsidized Loan will include both the amount of the Unsubsidized Loan and the Federal Graduate PLUS Loan.
  • In the Other Options Area:
    • The Family Contribution, also known as the Expected Family Contribution (EFC) is calculated based on information provided on the FAFSA by you and/or your spouse. Parental information is not required, nor reflected.
    • The Parent PLUS Loan is not applicable to graduate and professional students, however, you may consider a Federal Direct PLUS Loan for graduate and professional students. For more information regarding financial aid please peruse our Office of Financial Aid web site.

The institutional data on the right is required data metrics for undergraduate institutions and does not meet the needs of graduate and professional institutions.

Explanation of Metrics

  • The Graduation Rate is a measurement that is used for undergraduate students. Therefore, due to the limitations of the Shopping Sheet we have indicated 0% since it does not pertain to law students.
  • The Loan Default Rate that is displaying is our 3-year institution's combined (undergraduate, graduate, law and medical borrowers) 2009 default rate. Our rate is 2.7% and is considered to be low. The national average rate for similar institutions is 7.3% and the overall national average rate is 13.4%.
  • The Median Borrowing is a measurement that is used for undergraduate students. Therefore, due to the limitations of the Shopping Sheet we have indicated "no information available" since it does not pertain to law students.
    • We do report the average indebtedness of our JD graduates on an annual basis to the American Bar Association. The average JD debt reported of all borrowers who borrowed at least one educational loan and graduated in 2011-12 was $140,032.
    • The primary source of debt for our law students is federal loans. The flexibility of federal loan repayment is a major benefit for borrowers to consider. The options available allow them to change repayment plans that best fit their individual circumstances at any point of time during repayment.
    • It is important to note, that when borrowers reach repayment they are automatically placed into the 10-Year Standard Repayment plan. However, we recommend that borrowers review their federal loan repayment options carefully, so that they can adjust that payment based on their own individual circumstances (at any given time during repayment).

For more information, regarding federal loan repayment you should refer to the following web sites:

Please visit the following links for more relevant information applicable to you:

If you have any additional questions or concerns, please feel free to contact or visit the Office of Financial Aid.