Graduate Student Loans

The OTD program offers a 25% tuition discount for the Barry occupational therapy program alumni

Barry University participates in the U.S. Department of Education’s William D. Ford Federal Direct Loan Program. The Direct Loan Program provides students with a low interest way to borrow money to pay for their higher education. Your first step in applying for Federal Student Aid is to fill out the Free Application for Federal Student Aid (FAFSA) at

The U.S. Department of Education is the lender for Direct Loans rather than a bank or other financial institution. Direct Loans are:

  • Simple: You borrow directly from the federal government and have a single contact - the Direct Loan Servicing Center- for everything related to the repayment of your loans, even if you receive Direct Loans at different universities.
  • Convenient: You will have online access to your Direct Loan account information 24 hours a day, 7 days a week.
  • Flexible: You can choose from several repayment plans that are designed to meet the needs of almost any borrower, and you can switch repayment plans if your needs change.

How to Apply for a Federal Direct Stafford Loan

Step 1: Complete the Free Application for Federal Student Aid (FAFSA) at After Barry University receives your FAFSA and if you are eligible for a Federal Direct Stafford Loan (subsidized or unsubsidized), it will be included in your financial aid package.

Step 2: Complete a Federal Direct Stafford Loan Master Promissory Note (MPN) on the U.S. Department of Education's Direct Loan MPN website:
Once on this site, please select the link, “Complete Master Promissory Note”, then select the subsidized/unsubsidized loan MPN option. Follow the steps to complete the MPN. If you are experiencing technical difficulty signing the MPN, please contact the Department of Education's customer service center at 800-557-7394.

Step 3: Complete Loan Entrance Counseling online a Select the link, “Complete Counseling”, and select the “Entrance Counseling” option. Entrance counseling takes about 30 minutes to complete and will familiarize you with your right and responsibilities as a borrower.

Remember, we cannot process your Direct Loan unless you have completed all three steps above.

Types of Direct Loans

Unsubsidized: not based on financial need; interest is charged during all periods, even during the time a student is in school and during grace and deferment periods. The interest rate on unsubsidized loans is 6.21%. There is an origination fee of 1.072%; beginning October 1, 2014, the fee will increase to 1.073%.

Graduate PLUS: PLUS loans help pay for education expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods. The interest rate on PLUS loans is 7.21%. There is an origination fee of 4.288%; beginning October 1, 2014, the fee will increase to 4.292%.

What Amounts can You Borrow?


Annual loan limit

Graduate or Professional$20,500.00
Podiatric Medicine$40,500 (1st Year); $47,167 (2nd, 3rd, and 4th Years)

Lifetime Limits

Graduate or professional$138,500.00
(up to $65,500.00 may be subsidized) or $224,000.00 (for health professions). Limits may vary by school. See your financial aid officer for more information.

Other Ways to Finance Your Education

Alternative Loans: If you have utilized all other forms of financial aid and still require additional funding to pay your education, banks and other lending corporations make available education loans which require you and sometimes a co-signer to pass a credit check. These loans vary according to each lender. You should look into them closely before committing to a particular lender in order to determine your responsibilities according to their terms and conditions.

National Student Loan Data System (NSLDS)

Students and parents of students are advised that if they enter into a Title IV, HEA loan, the loan data will be submitted to the National Student Loan Data System (NSLDS), and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system.

Direct Loans Resources

Please contact the Financial Aid Office at 1-800-695-2279 or e-mail us at should you require any assistance.

Additional Gift Aid Available

You can use the Barry University Scholarship System to find other scholarship opportunities that you may be eligible to receive. These scholarships are funded through donations from private donors, alumni, faculty, staff, campus organizations, and corporations. For more information, visit