Process and Policies
Making your college education affordable is one of our number one priorities at Mercyhurst. If you follow the appropriate steps, our staff should be able to give you accurate estimates for your cost of attendance, financial aid, and bottom line for your first year.
The following is an outline of the financial aid process at Mercyhurst. If you have any questions, please contact admissions at (814) 725-6144.
- Student applies to Mercyhurst and is accepted
- Generally, an award will not be estimated until the student is accepted
- Student files the Free Application for Federal Student Aid (FAFSA) after January 1 (usually upon completion of your taxes)
- Fill out the FAFSA at www.fafsa.ed.gov
- PA resident? File by May 1st to help ensure you are eligible to receive a state grant
- Sign the FAFSA with your federal pin number
- Parent’s pin “signature” also required for dependent students
- Use the Mercyhurst University school code: 003297
- Mercyhurst receives your Estimated Family Contribution (EFC)
- Your EFC helps determine your PELL grant, PHEAA state grant, subsidized loan amount, and other need-based forms of aid
- If anything changes in your family’s financial situation, please notify admissions immediately for information on the appeal process
- A preliminary financial aid award is created
- You should receive both a letter and most likely a call from your admissions counselor in reference to this award
- This award is based on the academic program and resident status (living on- or off-campus) in our system; if either changes, your package may change.
- Student determines a bottom line (cost minus financial aid) and plans accordingly
- Once you know your bottom line, you will know how much money “out-of-pocket” you will need for the year. You can address this “out-of-pocket” cost with savings, alternative loans, parent loans and/or outside scholarships
- By mid-summer, if your confirmation deposit has been received, your award will be finalized
- If selected for “Verification”, that process must be completed before your award will be finalized. Roughly one out of every three students is selected.
Throughout the course of the financial aid process do not hesitate to contact admissions. We can assist you with filling out the FAFSA form, filling out master promissory notes, and advise you on helpful financial aid and alternative loan websites, including aesSuccess.org
- there's great information available at each!