After applying for admission, you should submit the completed packet of financial aid forms available through Barry's Financial Aid Office.
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School of Business How to apply for Financial Aid
This packet includes:
You may file your Free Application for Federal Student Aid (FAFSA) online. Be sure to designate Barry as the recipient of the application data. Please include Barry University's Institutional Code is 001466. If you are completing a paper FAFSA, it should be forwarded to one of the federally approved Multiple Data Entry Processors.
The remainder of the supporting applications and documentation should be sent directly to the Office of Financial Aid at Barry.
Please note: If your Free Application for Federal Student Aid is selected for verification, you may have to submit additional documentation. We will notify you if tax returns or verification forms are required to complete the verification process.
Barry University allows students to divide all or part of a single term's educational expenses into three convenient monthly payments (offered for courses of 12 weeks or more). There are no interest charges. However, there is a per-plan processing fee of $50.00. The first payment is due upon registration, and the next two payments will be due on the first of the next two following months. If you select a Deferred Payment Plan, you must sign a contract which outlines the payment amounts and due dates. There is a $500.00 penalty assessed for late payments after ten (10) days. Reminder notices are sent ten (10) days before the due date.
Barry also offers a two-payment plan for courses of 10 weeks. The first payment is due upon registration; the second is due in five weeks. There is a $50 Deferred Payment Plan Fee.
Note: There are no payment plans for courses less than 10 weeks.
Loan Programs for Graduate and Professional Students
Barry University participates in the William D. Ford Federal Direct Loan Program. The Direct Loan Program offers students low-interest loans to pay their educational costs. There are two types of federal loans for graduate and professional students: the Unsubsidized Federal Stafford Loan and the Graduate PLUS Loan. Your first step in applying for Federal Student Aid is to fill out the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov.
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.
The Federal Direct Unsubsidized Loan provides funds for educational expenses. This is a non-need based loan. Graduate and professional students can borrow up to $20,500 per year, with an aggregate loan limit (lifetime limit) of $138,500 minus any funds borrowed for undergraduate study. For loans first disbursed after July 1, 2017, the interest rate is a fixed rate of 6 percent. Beginning October 1, 2017, there is an origination fee of 1.066 percent. Both the interest rate and origination fee are subject to change annually. Re-payment begins six months after the student ceases to be enrolled at least half-time.
The Federal Direct PLUS Loan for Graduate and Professional Students is an additional loan that graduate or professional students can apply for after they apply for Federal Stafford loans. Students may borrow up to the cost of attendance less other financial aid. Students interested in this program must be credit worthy, but the credit review is less stringent than with private loans. For loans first disbursed after July 1, 2017, the interest rate is a fixed rate of 7 percent with no aggregate limit. Beginning October 1, 2017, there is an origination fee of 4.264 percent. Both the interest rate and origination fee are subject to change annually. Repayment begins six months after the student ceases to be enrolled half-time.
Alternative or Private Loans are for students who find federal loans insufficient to meet their educational expenses. These loans are offered by private lending institutions and vary in interest rates and terms. While they are not need based, students must be credit worthy to borrow. Many of these loans are specifically tailored to graduate and professional students. Students who are interested in alternatives loans should contact the lender of their choice.
Further information is available from the Office of Financial Aid. You can reach the office at firstname.lastname@example.org or by calling (305) 899-3673 or 1-800-695-2279.
State of Florida Financial Assistance Programs for Graduate Students
The following State of Florida programs are available to qualified graduate students:
The Jose Marti Scholarship Challenge Grant Fund is a need-based merit scholarship that offers financial assistance to students of Hispanic origin. The student will be a Florida resident and U.S. Citizen or eligible non-citizen, enrolled full-time, and not owe a repayment or be in default on any state or federal grant, loan, or scholar-ship program. Preference is given to undergraduate students.
Florida Bright Futures Scholarship Program recipients who graduate with a baccalaureate degree after the 2010 2011 academic year may be able to apply the unused portion of the Florida Academic Scholarship (FAS) or Florida Medallion Scholars (FMS) award toward one semester of graduate study.
Financial assistance programs offered through the state of Florida are subject to change. Additional programs for graduate students may also be available. The most current information regarding state of Florida financial programs is available online at www.floridastudentfinancialaid.org