Paid vacation

The University of Miami in Coral Gables is offering graduate students who already registered for fall classes the opportunity to accept a $5k buyout to postpone their classes until the spring due to the overbooking of graduate classes. I would expect Miami to have quite a few students willing to partake in an extra semester of vacation, especially if paid for by their school. The real question here is whether we are talking lump sum, or monthly payments, or credit toward your school account? Either way, it seems awfully generous of the university. I would just as easily assumed they would mail out letters with refunds for those who were over-booked, explaining why they would have to postpone their schooling. Now they just have 5,000 extra reasons to enjoy a fall vacation.