Student Loans FAQ

This is my FIRST-TIME receiving student loans. Are there any special procedures that I need to follow?

Yes! Students who are receiving Stafford loans for the first time will need to complete a mandatory Entrance Interview in addition to the Master Promissory Note. An Entrance Interview should be completed online by logging on to Click on the term. Submit and click on "Entrance Interview". Stafford loan funds cannot be disbursed to the University of Miami unless the Entrance Counseling process is properly completed. Loan funds will be sent directly to the University of Miami and will first be used to cover any outstanding costs for the semester. Loans are disbursed electronically to the University of Miami. 

Perkins Loans:

Students are eligible only if enrolled on a full-time basis, i.e., undergraduates at 12 or more credits. 

For students who are receiving Perkins loans, federal regulations require that you e-sign a Master Perkins Promissory Note in order for the Office of Student Account Services to disburse these loan funds into your student account. Please note that the Master Promissory Note is a multi-year note. The borrower is required to sign the note just one time for all Perkins loans made. However, at subsequent disbursements the University of Miami will disclose loan amounts, loan periods, and all other loan specific information regarding each disbursement to your student account in a separate email notification. This note will be in effect for 10 years from your signature date. However, if there is a period of 12 months with no disbursement activity after your initial signature, this note will be cancelled and a new note will be required.

For your convenience, the University of Miami will send you an email with the link that will allow you to complete your required promissory note on-line through our Perkins Loan Servicer 'ECSI'.

Please note that your FASFA PIN is required to complete this process. If you do not have a valid PIN, you must go to the Department of Education's PIN site at

The ECSI website is      You will receive an e-mail notification instructing you to log in when the note is available for signature. Students who do not follow this required process may be at risk of losing this low interest rate educational loan.

The Perkins loan is a "need based" federal loan at 5% interest. You will be required to start repayment nine months after graduation or when your enrollment is less than half time (less than 6 credits).

If you have questions, please call us at 305 284-6430 option 4 or contact us via e-mail at

Nursing loans and Promissory Note:

Click here for Nursing Loan and Promissory Note information.

When will my loan(s) be credited to my account?

Federal Stafford Loans, PLUS Loans, and alternative loans will be credited to a student's accounts once the loan proceeds have been received by the University. If all the required information has been properly submitted, i.e., Promissory Notes and Entrance Counseling, loan funds will be disbursed starting the first day of the semester. In order for the disbursement to take place, you must be financially registered. This means that all balances (not including loans) must be paid in full. Loans will not be disbursed to the University of Miami unless all semester costs are covered. Students eligible to receive loan aid must have completed and signed (notarization where required) all promissory notes (including Stafford and Perkins), disclosure statements, and accompanying documentation. Stafford/PLUS/Alternative loan applications must be completed and returned to the Office of Financial Assistance Services. Entrance interview may be completed online at: Perkins Loan promissory notes and Entrance Interviews may be completed online once the student has received an e-mail notification.