University of Miami Tuition and Fees

By Susan Guillory

(Last Updated – 05/2023)

Total Cost of Attendance

Founded in 1925, the University of Miami has established a reputation for being a well-respected private research institution. University of Miami tuition for 2022-23 is estimated to be $57,194. This is above the national average for four-year private universities of $39,400.

Costs for 2022-23

Financial Aid

Most students don’t pay for UMiami tuition out of pocket, but instead take out financial aid in the form of student loans, grants, or scholarships. In fact, 74% receive financial aid of some kind.

Generally, financial aid is monetary assistance awarded to students based on personal need and merit. Students that qualify for financial aid can use it to pay for college costs like tuition, books, and living expenses.

The federal government is the largest provider of student financial aid. However, aid can also be given by state governments, colleges and universities, private companies, and nonprofits. The different types include:

•  Scholarships: These can be awarded by schools and other organizations based on students’ academic excellence, athletic achievement, community involvement, job experience, field of study, and financial need.

•  Grants: Generally based on financial need, these can come from federal, state, private, and non-profit organizations.

•  Work-study: This federal program provides qualifying students with part-time employment to earn money for expenses while in school.

•  Federal student loans: This is money borrowed directly from the U.S. Department of Education. It comes with fixed interest rates that are typically lower than private loans.

Colleges, universities, and state agencies use the Free Application for Federal Student Aid (FAFSA) to determine financial aid eligibility. The FAFSA can be completed online, but note that state and federal and school deadlines may differ.

You can find other financial aid opportunities on databases such as:

•  US Department of Education – Search for grants from colleges and universities by state

•  College Scholarship Service Profile (CSS) – A global college scholarship application used by select institutions to award financial aid

Recommended: The Differences Between Grants, Scholarships, and Loans

Private Student Loans

There are two types of student loans: private and federal. At the University of Miami, 30% of students take out federal loans and 5% take out private loans. The average private student loan amount is $28,087.

Private loans are funded by private organizations such as banks, online lenders, credit unions, some schools, and state-based or state-affiliated organizations. While Federal student loans have interest rates that are regulated by Congress, private lenders follow a different set of regulations so their qualifications and interest rates can vary widely.

What’s more, private loans have variable or fixed interest rates that may be higher than federal loan interest rates, which are always fixed. Private lenders may (but don’t always) require you to make payments on your loans while you are still in school, compared to federal student loans which you don’t have to start paying back until after you graduate, leave school, or change your enrollment status to less than half-time.

Private loans don’t have a specific application window and can be applied for on an as-needed basis. However, if you think you may need to take out a private loan, it’s a good idea to submit your FAFSA first to see what federal aid you may qualify for as it generally may have better rates and terms.

If you’ve missed the FAFSA deadline or you’re struggling to pay for school throughout the year, private loans can potentially help you make your payments. Just keep in mind that you will need enough lead time for your loan to process and for your lender to send money to your school.

Recommended: Guide to Private Student Loans

Projected 4-Year-Degree Price

The University of Miami cost for four years, based on 2022-23 estimates, would be $316,080. In contrast, the average cost for tuition and room and board for four years at a private college is $230,280.

Here’s some Florida Student Loan & Scholarship Information for you.

Undergraduate Tuition and Fees

Costs for 2022-23

In 2022-23, students paid $57,194 for tuition and fees and $16,910 for room and board, for a total of $74,104. The national average is $57,570.

Graduate Tuition and Fees

Costs for 2022-23

The university offers top-notch graduate programs, too. University of Miami average tuition for grad school students was $41,580 in 2022-23, plus $1,236 in fees, totaling $42,816. The national average for grad school was much lower, at $23,130 per year. There is the option to apply for graduate loans available to help with these costs.

Cost per Credit Hour

The University of Miami tuition covered above is for a course load of 12 to 20 credits. For students wishing to attend part-time, the cost is $2,310 per credit hour.

Campus Housing Expenses

Costs for 2022-23

*Starting price for a studio based on available apartments on University of Miami’s off-campus housing website in 2023.

Freshmen are required to live on campus at the University of Miami. The school offers five residential colleges and two apartment properties on campus.

For upperclassmen who prefer to live off campus, there are a variety of affordable options. Living with roommates can bring your costs down. This resource can help you find off-campus housing opportunities.

University of Miami Acceptance Rate

Fall 2022

Admission Requirements

Here’s what’s required with your application to the University of Miami.

Required:

•  High school transcript

•  Letter of recommendation

•  School report

Recommended:

•  SAT or ACT scores

The deadline for Early Decision I is November 1, with a decision given by mid December. The deadline for Early Action is also November 1, with a decision by late January. The deadline for Early Decision II is January 1 with a decision by late February. The deadline for Regular Decision is January 1 with a decision by April 1. You can apply here .

SAT and ACT Scores

Through the Spring 2024 term, the University of Miami does not require test scores to be submitted with applications. Here are the 25th and 75th percentile test results.

Popular Majors at the University of Miami

At the University of Miami, there are more than 180 majors and programs to choose from. Here are the most popular.

1. Finance

Finance majors learn about financial management, investments, and financial markets, and have the opportunity to put their knowledge to use in real-world experiences.

Undergraduate degrees in 2021-22: 232

2. Nursing

Nursing is the most popular major at UMiami. Students take courses in biology, human anatomy, physiology, theories and concepts in nursing, statistics in healthcare, and more.

Undergraduate degrees in 2021-22: 213

3. Psychology

The University of Miami offers both a Bachelor of Science and a Bachelor of Arts in psychology. Students learn about different aspects of human behavior, including how people think, behave, feel, and relate to others. Many students go on to graduate studies in the field.

Undergraduate degrees in 2021-22: 167

4. Marketing

With one of the best marketing departments in the country, University of Miami offers marketing students courses in consumer psychology, marketing strategy, marketing analytics, behavioral pricing, corporate social responsibility, and marketing communications.

Undergraduate degrees in 2021-22: 116

5. Economics

Students learn economic theories, supported by data analysis, to understand modern economic problems. The program prepares students for careers in business, government, international agencies, and graduate studies. Economics students will select one of two tracks: Political Economy (P&S) or Quantitative Economics (STEM).

Undergraduate degrees in 2021-22: 91

6. Health Science

For those interested in a career in a health or medical field, the health sciences degree provides a good start. Coursework in biology, chemistry, genetics, statistics, and physiology prepare students for further education or jobs in healthcare.

Undergraduate degrees in 2021-22: 89

7. General Business

The business program allows students to customize their studies based on their interests in finance, marketing, accounting, business analytics, legal studies, and more.

Undergraduate degrees in 2021-22: 82

8. Biology

Students in the biology program will get a solid foundation in biology and then go on to learn more advanced content in biotechnology, ecology, genetics and society, human hereditary disease, and more.

Undergraduate degrees in 2021-22: 82

9. Political Science

Political science students are ready to go out into the world to take on a variety of careers. Students study courses like public affairs, American government, comparative politics, and international relations. There is also an opportunity to study abroad in London.

Undergraduate degrees in 2021-22: 79

10. Advertising

Students in this program can choose one of two tracks: advertising creative or advertising management. They will learn how to build advertising campaigns, and will have the opportunity to intern in the field.

Undergraduate degrees in 2021-22: 77

Find out more here about the fields of study at the University of Miami.

Graduation Rate

Here is the graduation rate of students who started their studies at the University of Miami in 2016:

•  6 years: 84%

Post-Graduation Median Earnings

Graduates of UMiami earn, on average, $71,739 per year. This is more than the national average of $55,260.