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Miami University is committed to educating students on financial responsibility and ensuring that they are equipped to manage their finances effectively. As such, Miami University requires all students to sign a Financial Responsibility Agreement each year. This agreement outlines the expected financial behaviors and obligations of students, as well as the consequences of failing to meet those expectations.

The Financial Responsibility Agreement is an important part of the financial aid process at Miami University. It helps to ensure that students understand the true cost of attending college and the responsibilities that come with accepting financial aid. This agreement also helps to promote responsible borrowing and helps to prevent students from taking on debt that they may not be able to repay.

The Financial Responsibility Agreement covers a range of financial topics, including tuition and fees, billing and payment, financial aid refunds, and loan repayment. By signing this agreement, students are agreeing to be financially responsible for their education and to make timely payments on any outstanding balances.

One of the key elements of the Financial Responsibility Agreement is the requirement to maintain satisfactory academic progress. This means that students must earn a certain number of credits each semester and maintain a minimum grade point average in order to remain eligible for financial aid. Failure to meet these requirements can result in the loss of financial aid, making it even more difficult for students to afford their education.

Another important aspect of the Financial Responsibility Agreement is the requirement to notify the financial aid office of any changes in enrollment status, including dropping below full-time status, withdrawing from courses, or taking a leave of absence. This helps to ensure that financial aid is only awarded for the period of time that the student is actually enrolled in classes.

In addition, the Financial Responsibility Agreement emphasizes the importance of responsible borrowing and encourages students to explore other options for financing their education, such as scholarships, grants, and work-study programs. It also provides resources for students who are struggling financially, including financial counseling and assistance with budgeting and debt management.

Overall, the Financial Responsibility Agreement at Miami University is an important tool for promoting financial literacy and responsible borrowing. By requiring students to understand their financial obligations and providing resources for financial assistance, Miami University is helping to ensure that students can focus on their academic goals without being overwhelmed by financial stress.