Third Party Sponsors

Third Party Sponsors

A “third party sponsor” refers to any organization which formalizes a contract with the University and provides a guarantee letter assuming financial responsibility for a student’s, or group of student’s, tuition and fees, in full or portion thereof.  Employers are not considered third party sponsors since sponsorship cannot be dependent upon the student’s continued employment with the organization.

It is the student’s responsibility to provide the Office of Student Account Services an updated financial guarantee letter at least two weeks prior to the semester’s payment due date. The financial guarantee letter should be submitted each semester to ensure the sponsor is billed accurately and in a timely manner. The sooner we are notified the better since early notification prevents a past due hold from being added or cancellation of classes from taking place. It also gives the students better information about what they personally will be expected to pay.The financial guarantee letter may be sent via e-mail to thirdparty.osas@miami.edu.

Upon receipt of the financial guarantee letter the student will receive a credit on their student account that reads “Third Party Transfer”.  This line item description does not mean the University has received payment from the Third Party Sponsor; rather, it serves as a deferment of the balance owed to the University until the payment is submitted by the sponsoring organization.  That being said, the student is ultimately responsible for any balance on their student account in the event the sponsor defaults on their payment agreement.