Understanding Barry University Tuition, Fees, and Financial Aid

Financing a college education is a significant investment. Understanding the costs associated with attending a university and the available financial aid options is crucial for prospective students and their families. This article provides a comprehensive overview of Barry University's tuition, fees, and various financial aid programs, including scholarships, grants, loans, and work-study opportunities.

The Cost of Attendance: Breaking Down the Numbers

The "Cost of Attendance" represents the total amount of money the average student pays, without any financial aid, to attend a particular school. It's essentially the sticker price. At Barry University, the total cost is $59,642, encompassing tuition and fees, plus the cost of food and housing, books and supplies, transportation, and personal expenses.

Tuition and Fees

Barry University's tuition is $35,600. Compared with the national average cost of tuition of $47,097, Barry University is cheaper. The annual tuition at Barry University stands at approximately $34,600, placing it in the average range compared to other institutions. When combined with fees, which amount to about $1,000, the total tuition and fees reach around $35,600, also reflecting an average cost bracket.

Fees differ by institution and may fund library services, student gym facilities, student centers, technology resources, and campus health centers.

Other Expenses

Beyond tuition and fees, students should budget for additional expenses:

Read also: Barry University Admission

Books and Supplies: \$1,500 per year
Personal Expenses: \$4,108 per year
Transportation: \$1,400 per year

Room and Board

Room and board charges add a significant portion to the overall cost. The average cost for room is about $7,600 per year, categorized as average and within the bottom 40% percentile, suggesting it is relatively affordable compared to other universities. For prospective students considering on-campus housing, Barry University offers dormitory accommodations with a capacity of 1,273, an average size compared to similar universities.

Total Cost Compared

Overall, the combined annual cost of tuition, fees, and room and board at Barry University amounts to roughly $49,336. This total exceeds the average annual expenses at four-year public colleges for in-state students, which is $25,707, and even surpasses the costs for out-of-state students at those institutions, averaging $44,014.

Understanding Net Price

The Net Price is the total cost minus the total aid given. In other words, this is the price you have to pay to the school out of pocket. The average net price is $23,930 per year. Your net price is a college’s cost of attendance minus the grants and scholarships you receive. The net price you pay for a particular college is specific to you because it’s based on your personal circumstances and the college’s financial aid policies. It is advisable to use the college’s Net Price calculator for the most accurate estimate of your net price.

Financial Aid Options at Barry University

Financial aid can include grants, loans, scholarships and work-study jobs. Financial aid packages vary depending on your financial need. Most colleges determine financial need based on your FAFSA. Barry University met 63% of its students’ financial aid need.

Financial Aid Statistics

Students Receiving Financial Aid: 74.67%
Freshmen With Need and Received Financial Aid: 82.63%
Average Aid Package Awarded: \$30,000

Types of Financial Aid

Financial aid packages at Barry University may include:

Need-Based Scholarships and Grants: Scholarships and grants don’t need to be paid back.
Loans: Loans must be paid back.
Non-Need-Based Aid: Merit-based aid, also called non-need-based aid, is awarded for a specific talent or academic achievement.
Work-Study: Schools offer work-study programs to those who qualify and campus jobs to students looking to earn money in their free time.

Scholarships and Grants

Scholarships are a type of funding that you don’t need to pay back. Need-based scholarships take a student’s financial status into account. Merit-based scholarships are awarded to students for academic or athletic achievement. You might also qualify for a scholarship based on your community service involvement, unique hobbies or traits, your personal background, or a parent’s employer or military affiliation. Some students receive enough in scholarship money to cover their tuition and living expenses.

Average Need-Based Scholarship or Grant Award (First-year Students)

The average need-based scholarship or grant awarded to first-year students at Barry University was $9,753. Additionally, 76% of first-year students received need-based financial aid in fall 2023.

The average non-need-based scholarship or grant awarded to first-year students at Barry University - excluding any athletic scholarships, if applicable - was $17,550.

Loans and Student Debt

The typical amount of loans a student must pay back is $36,972. How much student loan debt you accumulate can affect your financial life long after college ends. Ideally, your total student loan debt should fall below your anticipated starting salary once you graduate.

At Barry University, the median federal loan debt among borrowers who completed their undergraduate degree is $26,997. The median monthly federal loan payment (if it were repaid over 10 years at 5.05% interest) for student federal loan borrowers who graduated is $286.

Additionally, 10% of graduating students at Barry University took out private loans. Students with private loans had an average of $23,625 in private loan debt at graduation. Average Total Indebtedness of 2024 Graduating Class is $36,972. 74% Graduating students who have borrowed (any loan type, 2024).

Need-based self-help aid includes federal loans and work-study. The average need-based self-help aid awarded to first-year students was $3,532.

Work-Study Programs

Barry University offers work-study opportunities designed to help students finance their education while gaining valuable work experience. In addition to on-campus jobs, the university supports internships that align with students' academic and career goals, enhancing practical skills and professional development. International students at Barry University are also eligible to participate in work-study programs, though limitations may apply based on visa regulations.

Begin your job search by checking whether your college has in-person or online job boards. Some institutions match students with work-study positions, while others require them apply to the positions, like they would for any other job.

Financial Aid Dates and Deadlines

Application Due: Not available. The last day to apply for financial aid or turn in related paperwork.
Priority Application Due: Not available. Applications received prior to this date will be given the strongest consideration. Still apply for financial aid if you don’t make this due date.
Notification Date: Nov 15. When students receive a letter with the amount and types of aid the college is offering.
Response Due: Not available. The deadline for students to respond to the college’s aid offer.

Calculating Your Expected Family Contribution (EFC)

The US government has come up with a standardized way to calculate how much a typical family can afford to pay without help. As an example, a family that brings home $80,000 in income before taxes, with no assets and no other children in college, has an EFC of around $7,000. Colleges use this number as a guideline to decide how much aid to give you, but it's just a guideline.

Maximizing Financial Aid Opportunities

Knowing what a school costs is Step #1 in managing college costs. By learning more about expenses and aid, you’re already on the right path to managing college costs. It’s very common for college grads in the US to graduate with some debt, but high percentages of students taking on loans at a particular school is a big red flag. High numbers of students with loans is a red flag, and Barry University is above average. The percentage of students getting federal loans is greater than those getting private loans, which is a good sign.

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