Financial Aid

Sound financial planning is essential.  Applicants are encouraged to review and discuss their financing options with a Barry University Financial Aid Advisor by calling 305-899-3673 or 1-800-695-2279 or by e-mailing finaid@mail.barry.edu.  Barry University participates in a full array of federal and state financial aid programs.

Applicants are also encouraged to investigate scholarships or sponsorships through prospective anesthesiology employers, or the U.S. Military Services, U.S. Public Health Service, or Veterans Administration.  For a list of our anesthesiology partners, visit http://www.barry.edu/anesthesiology/financialaid/stipends.htm.

Application Information

The Graduate financial aid packet can be viewed and forms downloaded at www.barry.edu/finaid or www.barry.edu/applygradfa.  In addition, the Graduate financial aid packet is given out to all Anesthesiology applicants who are selected for an interview.  Finally, it may be obtained from the Financial Aid Office (e-mail: finaid@mail.barry.edu; telephone (305) 899-3673 or 1-800-695-2279, menu option “financial aid”).

To determine your eligibility for financial aid, you must complete the following three applications:

1. The Free Application for Federal Student Aid (FAFSA). This form enables the Financial Aid Office to gather information for awarding you federal aid. There is no charge for processing.  Complete the online application at www.fafsa.ed.gov.  Our Institution Code is 001466.  If your application is selected for verification by the federal government, you will be required to submit copies of your tax return or verification of other means of support.  It is important that you file your application as early as possible to insure that your financial aid is processed in time for registration.
2. The Barry University’s Graduate and Professional Loan Request Form. Complete the form and fax it or mail it to the fax number or mailing address provided at the bottom of the form.
3. The Master Promissory Note. To access this form, go to http://www.barry.edu/admissionsFinancialAid/graduate/financialAid/studentLoans.htm, then click on the ‘Open Net’ link which you will find under ‘APPLY FOR A LOAN’. Select the column that applies to you, then follows the instructions.  No signature is required.

In order for your student to be processed you must be at least provisionally admitted to a graduate degree program.

Federal Student Loan Programs for Graduate and Professional Students

Subsidized Stafford Student Loan Program (formerly G.S.L.)

Through this program, you may borrow up to $8500 per academic year from a bank, a savings and loan association, or other lenders who participate in the program.  The loan will have a fixed interest rate of 6.8%.  Repayment begins six months after you graduate or drop below half-time status.  In order to qualify for the program, you must:

• Demonstrate financial need;
• Be enrolled or accepted for enrollment on at least a halftime basis (4 or more graduate credits);
• Show satisfactory academic progress; and
• Be a citizen or permanent resident of the United States.

Unsubsidized Stafford Student Loan Program

Under the Unsubsidized Stafford Student Loan Program, you do not have to demonstrate financial need to borrow funds.  The interest for this loan is NOT subsidized by the federal government while you are in attendance.  Consequently, you will have to make interest payments or allow the bank to capitalize the interest accrued during the period of enrollment.  You may borrow up to $20,500 every two semesters minus any approved Subsidized Stafford amount.  The loan will have a fixed interest rate of 6.8%.

Barry University Federal Graduate PLUS Loan

If you are a graduate student who has borrowed the annual maximum for Federal Stafford Loans or you have exhausted your lifetime Stafford Loan eligibility, you may be interested in the new Federal Graduate PLUS program.  This program allows you to borrow up to the full cost of attendance, minus any other financial aid you receive.  You do not need to demonstrate financial need to qualify, but you must show that you are credit worthy.

Key Facts

1. Available to graduate and professional students only
2. Not based on financial need
3. You may borrow the cost of attendance minus other aid
4. Interest rate is 8.5%
5. Fees of up to 4 % may be deducted from the loan amount
6. You must pass a basic credit check.  Please note: You will not be denied a loan because you do not have a credit history.  If you do have an adverse credit history, you may still receive a Federal Graduate PLUS loan if you obtain an endorser who does not have an adverse credit history.
7. Repayment of principal and interest begins 45 to 60 days after the loan is disbursed.  You may defer repayment as long as you are enrolled at least half time.  Interest may be paid periodically or capitalized.
8. After graduation, you may consolidate Federal Graduate PLUS loans with other Federal (Subsidized/Unsubsidized) Stafford Loans.

To receive a Federal Graduate PLUS loan, you must:

• Enroll at least half-time in a degree seeking graduate or professional program
• Be a U.S. citizen or an eligible non-citizen
• File a 2008-2009 Free Application for Federal Student Aid (FAFSA), available at www.fafsa.ed.gov (see section ‘A’ above)
• Complete and sign the Federal Graduate PLUS master Promissory Note, available at www.opennet.salliemae.com

Alternative Loans 

Alternative Loans may also be available to assist you.  Creditworthy students may borrow from $2,000 to $20,000, depending on the cost of tuition.  You must demonstrate financial need, be enrolled at least half time or better, and be making satisfactory progress.  Interest rates on these loans are variable.  Interest accrued during period of enrollment may be capitalized upon request.

State of Florida Financial Assistance Programs for Graduate Students

For information on these program, visit www.floridastudentfinancialaid.org or call Barry University’s Office of Financial Aid at 305-899-3673 or 1-800-695-2279.

Tuition Payment Plans with Reimbursement by Employers

If you are expecting reimbursement for tuition from your employer, you must present a letter on company letterhead stating the company’s policy at the time of registration.  Since policies change frequently, a new letter will be required each term.  Any difference between the total payment owed by you and the payment to be received from your employer must be paid in full a the time of registration.