Financial Aid

Basic Stafford Loan Requirements

• You must have submitted a FAFSA.

• For subsidized Stafford Loans, you must have financial need as determined by your school.

• You must be a U.S. citizen, permanent resident, or eligible non-citizen.

• You must be enrolled at least half-time.

• You must not be in default on any education loan or owe a refund on an education grant.

Below, we have highlighted the specific steps for completing the Stafford Loan process:

File a FAFSA

The FAFSA is the first and most important step towards getting a Stafford Loan; you can't get a loan without filing yours, and it's also free. You can file your FAFSA electronically at FAFSA Online. Be sure to include the school's FAFSA code (or prospective schools, if you are a high school student) to ensure that the results are sent to your school's financial aid office.
Remember, the earlier you file your FAFSA, the more likely you are to obtain the full amount of financial aid for which you are eligible!

Receive and read your Student Aid Report and award letter

Three to four weeks after filing your FAFSA, you'll receive, in the mail, a copy of your Student Aid Report, or SAR. A copy will have been sent to the school(s) of your choice. Approximately one to two weeks after you receive your copy of the SAR, look for a financial aid award letter from your school detailing how much aid you are eligible for and in what form that aid will take. You will need to indicate which financial aid you will accept (i.e., work study, loans, etc.) and return that information to your school's financial aid office.
Note: Returning the award letter for acceptances does not complete the process for applying for a Stafford Loan! You must still fill out a master promissory note!

Apply for the Federal Stafford Loan

Once you have received and returned your award letter, if you have been awarded the Stafford Loan, you can apply online. This online application will allow you to retrieve a promissory note which you will need to sign and return to your school for certification.
Our free online application will walk you through the process of how to file your loan paperwork.
If you are not eligible for government student loans or you need additional funds to cover your tuition and expenses, you'll need to seek an alternative student loan, which is also called a private student loan.

How much can I borrow with the Stafford Loan

• Undergraduate Stafford Loan Limits

• Graduate Stafford Loan Limits

Tips for completing the Stafford Loan

• Be sure to print and sign the promissory note!

• Be sure to keep a copy for your records!

• Be sure to mail the application to the address specified in the online application!

• Remember that you will need to file a FAFSA and Stafford Loan application every year!

Manage any leftover funds

Once the lender has received the promissory note, funds will be made available to the school for disbursements. Schools set disbursement dates and apply your Stafford Loan proceeds directly to cost of tuition. Any money left over will be sent to you as a refund check or applied back towards the loan at your discretion.

What do I do next?

At this point, your Stafford Loan application is more or less done. Check with your financial aid officer in August to verify that they have received a certification request and have processed your application.

Consider Alternative Student Loans - Act Education Loans

If your federal student aid report indicates that you do not meet the requirements for federal funding, or it falls short of what you need, consider applying for a private student loan. Learn more about Act Education Loans and GradLoans.com's Private Graduate Loans.

The Parent PLUS Loan – (Parent Loan for Undergraduate Students)

After you find out how much federal financial aid you are qualified for your parents may want to take out a PLUS loan on your behalf. PLUS Loans are credit-based loans that parents can borrower to help fill in any gaps between your cost of education and the federal need-based aid you have received. Parents may borrow the amount needed to fill the gap between the cost of your education and the federal student aid you have already received.
It is important to apply for the Stafford Loan first. Learn more about Parent PLUS Loans and apply online.

Undergraduate Stafford Loan Information

There are two different types of Stafford Loans, subsidized and unsubsidized.

• Subsidized Stafford Loans are awarded based on financial need. You will not be charged interest before you begin repayment or during periods of deferment. The federal government "subsidizes"; the interest during these times.

• Unsubsidized Stafford Loans are not awarded based on financial needs. Any eligible student can take out unsubsidized Stafford loans. You will be charged interest from the time the loan is disbursed, to the time the loan is repaid in full.

How much can I borrow with Stafford Loans?

The amount you can borrow is based on your grade level and your status as a student. Independent students may be eligible to borrow more because they are paying for college without assistance from family.

It is important to note that even if a student is financing their education on their own, dependency status is still determined by the school.

Based on your award letter, you may not always qualify for the maximum Stafford Loan amount. For additional loan funding, consider private student loans which allow you to borrow up to the total cost of education less other financial aid received.

Graduate Student Stafford Loans

There are two different types of graduate Stafford Loans, subsidized and unsubsidized.

• Subsidized Stafford Loans are awarded based on financial need. You will not be charged interest before you begin repayment or during periods of deferment. The federal government "subsidizes" the interest during these periods of times.

• Unsubsidized Stafford Loans are not awarded based on financial needs. Any eligible student can take out unsubsidized Stafford Loans. You will be charged interest from the time the loan is disbursed, to the time the loan is repaid in full.

Other Graduate Student Loan Options: Consider Private Alternative Loans for Graduate Students or the Federal Graduate PLUS Loan

How much can I borrow?

The amount you can borrow is based on your year in school and your status as a student. Independent students may borrow more because they are paying for college by themselves. Students may not always qualify for the maximum amount - check with your financial aid office.

How to Apply

UNIBE is on an intensive 16-weeks semester schedule please note that for loan purposes, two semesters equate one academic year.

The following is the process for U.S. Citizens and Legal Residents when applying for financial aid:

1) Apply for admission

2) Complete the application for Federal

Aid to Students (FAFSA)
Web: http://www.fafsa.ed.gov, using the
following information:
School code: G23518

UNIBE
Ave. Francia 129
Santo Domingo, Dominican Republic

3) The school will receive the Student AidReport (SAR) electronically. The SAR will report your "Pell Grant" eligibility and what you may expect as a family contribution. This will help in determining your eligibility for a Federal Stafford Loan.

4) UNIBE will send you the "Financial Aid Package".
Review and send your questions to the Financial Aid office of the school. Include a copy of your Social Security Card, copy of your Birth Certificate or Passport.

5) If you are eligible for a loan, complete the "Master Promissory Note".

6) After you have completed the application, submit it to UNIBE, attention Financial Aid Office.

UNIBE P.O. BOX 770937
MIAMI, FL 33177

7) The Financial Aid Office will certify your application and will send it to the
financial entity or the guaranteeing agency.

8) Your financial entity will send the loan funds to the school (30-45 days after the classes have started).

OPTIONAL

Obtain an Application and Promissory Note form for Federal Stafford Loans at any Citibank (phone: (800) 976-2402), Chase Manhattan Bank (phone: (800) 553-6609), USEFC (phone: (786) 777-0300), or any lender of your choice.

In order to process a loan for a selected semester please note that the documents must be received at the Financial Aid Office no later than the date shown in the following deadline table. There will be no exceptions for documents arriving after the deadline.

Deadline for Financial Aid Documents to be Received
 

If you need further assistance in completing your loan application please call Monday - Friday between 9:00 a.m. and 5:00 p.m. at (809) 689-4111 Ext. 1121 or 809-689-0878, and one of our Financial Aid advisors will gladly assist you.

Canadian students

Canadian students are eligible to participate in the Canadian Student Loans (CSL) program.

Eligibility

Students that plan to enter UNIBE are eligible for a Canada Student Loan (CSL) and must fulfill all of the following requirements:

- Be a Canadian citizen or permanent resident of Canada.

- Be a resident of a province or territory that participates in the Canada Student Loans Program. (Generally, your province or territory of residence is where you have most recently lived for at least 12 consecutive months excluding full-time attendance at a post-secondary institution).

- Demonstrate to the provincial or territorial student assistance office, by completing an application form, that the financial resources available to you are not enough to cover your educational costs.

- Enroll or be qualified to enroll in at least 60 percent of a full-time course load (students with permanent disabilities may enroll in 40 percent of a full-time course load).

The province of Quebec and the North-west Territories operate their own student assistance plans. The Government of Canada provides funding to assist them.

Maximum Amount to Borrow

Depending on your needs, you can borrow up to a maximum of $165.00 for each week of your study period.

Provincial assistance is also available, as well as Canada and provincial grant programs (where the latter exist), other scholarships or bursaries.

How to apply

In the following page is a list of the Provincial and Territorial Student Assistance Offices. Call or visit the office nearest you to get the information materials and application forms. Depending on the province or territory in which you live, you may be asked to submit your application directly to UNIBE or to the student assistance office. Remember that the province of Quebec and the Northwest Territories operate their own student assistance plans. The Government of Canada provides funding to assist them in providing their plans.

Students from Other Countries

Students from countries different from the U.S. and Canada should contact either the Student Assistance Office or the Education Department of their corresponding countries to verify if any loan program is available.

Cost of Education/Budgets

Eligibility for financial aid is determined by the student's financial situation and the costs associated with attending the institution, called the "budget" or "cost of education".

The components of a student's budget include direct costs (tuition, fees, books, and supplies) and indirect costs (room and board, personal expenses, and transportation) as prescribed by the U.S. Department of Education.

Budget forms are available from the Financial Aid Office.

Students anticipating the need for financial assistance to cover part or all of their educational expenses should undertake early planning in order to make the necessary arrangements.

REFUND POLICY

The following refund policy will be applied to students not receiving Financial Aid who that decide to withdraw from the University after the beginning of a semester:

The percentage refund is based on the total tuition payment due, not on the amount paid.

Delivery of Diplomas, Certificates and Transcripts:

Diploma (graduation) and copies of the permanent record will not be transmitted to the student until they have fulfilled all the academic requirements, obtained an average accumulated GPA of 2.0 pts (70), fulfilled attendance requirements and paid their outstanding debts to the Institution.

Policy of Cancellation and Reimbursement.

Rejected:

All students rejected by the school will receive total reimbursement of the paid money.

Process of Cancellation

If the student (parents or tutor in case of minors) wish to cancel the agreement of matriculation, notification should be provided in writing (or by e-mail) to the registration officer. Cancellation will be granted the day of notification.

Cancellation within the first three days

The student who has not attended classes (parents or tutor in case of minors) can request the cancellation of the agreement of matriculation within three working days after signing the request and all the paid money will be refunded except a cancellation fee of US$500.00.

After three days:
If the student requests voluntarily the cancellation of the agreement of matriculation after three days from the registration period, the institution will deduct up to 60% of the total matriculation cost (prorated reimbursement based on the time passed since the beginning of classes until the last day of attendance).

The institution will make reimbursement within 30 days, since the date of the notification. The costs of equipment and books are the responsibility of the student. These therefore are not included in the reimbursement.

In the case of a student is expelled, the attended time will be calculated at the time the decision to expel is made.

If the Institution closes and does not continue giving classes after the student is registered or in the case of the cancellation of a program, the student has the right to receive prorated reimbursement of all paid money.

Other dispositions:

a) Copies of the record of the student can be sent to people or interested agencies, by mail, with the written authorization of the student. Copies of the record of the student given to the student personally will be marked as “Student Copy” and will not be usable for official purposes. The cost of the copies will be of US$25.00 each.

b) The Director of the School can terminate (suspend) a student before completing the training program for discipline reasons, abuse of controlled substances, crimes, breach of duties and/or obligations, insubordination, immorality, unsatisfactory progress, poor attendance, absences or any other act that may harm or put in danger the security or good reputation of the school and/or classmates.

c) Special cases: In case of medical problems, accident, family tragedy or any other circumstance that prevents the student from finishing their training, the university will make a reasonable adjustment acceptable to both parts.

d) The Institution reserves the right to cancel, to make changes in the schedules and contents of the classes, blocks of instruction, text books, and/or programs, as well as to postpone the dates of beginning of classes, and to review the matriculation cost between semesters (with previous warning thirty days before). In case of changes the students will not be penalized financially.
Student with Stafford Loans

The following refund policy will be applied to those students with Stafford Loans, who decide to withdraw from the University after the beginning of the Semester.

U.S. Federal law requires that when you withdraw during a payment period or period of enrollment (the University has these periods defined and will indicate which one applies to each individual), the amount of SFA Program assistance that you have "earned" up to that point is determined by a specific formula.

The amount of assistance that you have earned is determined on a pro-rata basis. That is, if you completed 30 percent of the payment period or period of enrollment, you earn 30 percent of the assistance you were originally scheduled to receive. Once you have completed more than 60 percent of the payment period or period of enrollment, you earned all your assistance. If you receive excess funds that must be returned, your school can explain what portion of those funds must be returned.