UM cost of attendance climbs $5,000, students to pay $93,000 next year

Photo credit: Jenny Jacoby

Attending the University of Miami for the 2024-2025 school year will cost students over $93,000. For students living on campus, this is a $5,226, or nearly 6%, increase from the previous academic year.

The estimated cost of attendance increases includes several categories including tuition, transportation, housing and books.

Tuition, now at $60,718, has risen $2,614, making it the largest category increase. This is $4,000 more than Harvard University which ranked third in the nation based on the annual U.S. News report. The University of Miami is currently ranked at 64.

The tuition price falls within the range of several other private universities and is lower than UM sister schools University of Southern California with a yearly tuition of $69,904 and Tulane University with a tuition of $68,678.

“In order to structure financial aid packages and offer them in time for students to make informed decisions about where to pursue their education, the University publishes an estimated cost of attendance each year. The demand for a University of Miami education remains at record highs, with more than 48,000 applications received this year,” the University of Miami said in a statement to The Miami Hurricane.

The next highest increase was in the food and housing category, with an approximate $2,000 raise for both on and off-campus options. The University has not made it clear whether this is a result of the new housing development Centennial Village, scheduled to open its first residential college this summer, or if it reflects inflated food costs throughout the country.

This rise follows recent COA increments that have surpassed the expected 3% – 4% annual increase universities typically warn students of ahead of time.

For perspective, rising seniors were given a $75,240 COA estimate when they committed to UM in 2021. This has increased by 24.4% just in their four years as students.

“I’ve been paying for full tuition and every time they raise it they never tell us. Then, they’re [UM] not flexible with payment dates,” junior Diego Zubillaga Chavez said.

“I genuinely don’t think I can afford to come back next year.”

The 6% raise also far exceeds the U.S. 3.2% rate of inflation rate recorded for the past twelve months.

Justin Ammaturo is a third-year student in the School of Architecture, a five-year program that allows students to graduate with professional registration education requirment, meaning he is responsible for an additional year of tuition. Ammaturo does not understand the true reasons behind the rise in tuition or why the University has not communicated this information with students.

“I think the University should tell us and that we should not have to find out on our own,” he said.

“It’s also not fair that they don’t tell the guarantor or parents that they’re upping tuition. Then we have to tell them ourselves.”

This, he explained, creates an awkward situation for students who in many cases have to ask their parents for additional funds to afford tuition.

The COA increase comes at the same time as students are grappling with an adjustment to the University’s financial aid policies that will limit federal and state aid for students taking courses outside their main degree of study.

This change is expected to cost students trying to complete their double majors or minors thousands of dollars in lost aid or push them to graduate early.

This story was corrected to state that the five year Architecture program allows students to graduation with professional registration requirements, not a master’s in architecture and to include a better colored graph.

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Jenny Jacoby
Jenny Jacoby is a junior from Cape Coral, FL majoring in political science and ecosystem science and policy with a minor in Arabic studies. She joined The Miami Hurricane her freshman year writing for the news section and went on to serve as managing editor the following year. She is looking forward to sharing what she has learned about writing and managing a news team with her fellow staff and hopes to continue the TMH legacy of strong reporting on campus and in lively Miami. Outside of the paper, Jenny conducts undergraduate research, is a P100 tour guide and spends her free time running, scuba diving and reading.