Financial Assistance – Doctor of Ministry Candidates
At Barry, we are committed to doing all we can to help you finance your education. There are several forms of financial assistance available to you.
Scholarships, Assistantships, and Tuition Discounts: The Department of Theology and Philosophy offers a professional scholarship to all full-time ministers enrolled in the Doctor of Ministry program. In addition, graduate assistantships are sometimes available within the Department. Members of religious communities (sisters, brothers, etc.) receive a 30-percent discount for all graduate programs under the University's Professional Recognition Scholarship Program.
Stafford Loan Program: Barry participates in the Federal Loan Program. If you meet the qualifications, you may be eligible to borrow up to $8,500 per year under the Subsidized Stafford Loan Program and up to $20,500 per year (minus any approved Subsidized Stafford amount) under the Unsubsidized Stafford Loan Program. The Stafford Loan interest is fixed at 6.8% and capped at 8.25%. Repayment does not begin until you graduate. This information is correct and accurate for the 2007-2008 academic year.
The Graduate PLUS Loan allows you to borrow up to the cost of attendance minus other financial aid. You must be creditworthy. (The credit review for this loan is less stringent than for private loans.) The interest rate is fixed at 8.5% with no aggregate limit. This information is correct and accurate for the 2006-2007 academic year.
Alternative Loans enable credit-worthy students to borrow from $2,000 - $20,000 depending on their cost of attendance. Check with the bank or lending institution to find out about the current interest rate.