Frequently Asked Questions
Q: How do I apply for financial aid?
A: Complete the FAFSA -Free Application for Federal Student Aid. The FAFSA is available on the government's secure Internet site at http://www.fafsa.ed.gov. Paper FAFSAs are available at the Financial Aid Office.
Q: When should I apply for financial aid?
A: For the Fall semester, as soon after January 1st as possible.
Q: What is the FAFSA?
A: The FAFSA, Free Application for Federal Student Aid, is the universal form that students complete to be considered for financial aid at every college and university in the United States.
Q: What does the FAFSA do?
A: The FAFSA collects financial and other information about you and determine your degree of financial need, as well verifies other information.
Q: What type of financial aid is available?
A: There are scholarships, tuition discounts, graduate assistantships and student loans available for graduate and professional students. Federal student loans are processed through the Financial Aid Office. Scholarships, discounts and assistantships are awarded by individual schools and departments. Further information can be found in the Graduate Catalog.
Q: Do I have to be a full-time student to receive financial aid?
A: Federal Stafford loans are available to students enrolled at least half-time. Half-time enrollment consists of 4 or more credits per term for most graduate programs. Refer to your program of study for further information.
Q: What is Barry University's Title IV Federal School Code?
A: Barry University's Title IV Federal School Code is 001466. It is very important that you enter this number on the FAFSA.
Q: Can I transfer my financial aid from another college?
A: Most financial aid awards cannot be transferred from one institution to another. If you are planning to transfer to Barry University from another educational institution, you must make sure that the results of your FAFSA are sent by the federal processor to Barry. You can accomplish this by calling the Federal Student Aid Information Center at 800-433-3243 and requesting that they forward your FAFSA results to Barry University. (Remember, our Title IV Federal School Code is 001466). If you have a copy of your current Student Aid Report, you can fax this to the Office of Financial Aid at 305-899-3104, or mail a full copy to us.
Q: Who is eligible to receive financial aid?
A: To be eligible for financial aid students must be United States Citizens or eligible non-citizens, enrolled in a degree-seeking program at an accredited college or university.
Q: What are Federal Stafford Loans?
A: This program consists of low-interest loans. There are two Stafford loans; subsidized and unsubsidized loans. The Subsidized Federal Stafford loan is based on financial need. The government pays the interest while the student is enrolled at least half time. Repayment begins six months after graduation or when the student drops to less than half time enrollment.
The Unsubsidized Federal Stafford Loan is not based on need. However, the student is responsible for all interest which accrues during in-school, grace, and deferment periods. The interest rate is fixed at 6.8%. The annual loan limit for combined Subsidized and Unsubsidized Stafford Loans is $20,500.