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About Financial Aid

At Mercy College, we believe your ability to finance the cost of tuition should never interfere with your college education. There are many options when it comes to funding your education— from grants and scholarships to loans and work-study programs — Mercy offers countless forms of financial aid.

You’re also not alone at Mercy, we’re here to help. Our Office of Enrollment Services staff are available to help you navigate financial aid and explore your options.

Affording College
Financial Aid Basics

How am I going to pay for college?

It’s a question all students have, and at Mercy we don’t think you should have to answer it alone. We believe nothing should stand in the way of your education and want to help you maximize the financial aid options available to you.

Below is information you can use to help guide you through the financial aid process, and if you have any question reach out to us.

School psychologist working with teen.

Types of Financial Aid

What is financial aid?
What are the different types of aid I can receive?

 

$ Federal and State Grants:    $ Federal Direct Loans:
  Help you with college expenses. Grants are "free" money and do not have to be repaid. Your family's financial circumstances determine your eligibility and amount you can receive    

Loans help you pay for tuition and other expenses, but must be repaid. Loans are backed by the Department of Education

 

$ Scholarships:   $ Federal Work-Study Program:
  Many organizations, including Mercy College, fraternal societies, unions, high schools and religious groups offer scholarships. Most of these private scholarships require that you meet organization-specific criteria to qualify     Provides students with part-time employment. Students usually work a limited number of hours per week and may work on campus in a variety of departments. Off campus, Federal Work-Study jobs are limited to nonprofit, non-sectarian and non-political organizations
FAFSA logo

Applying for Financial Aid

Step one for securing financial aid is to fill out a Free Application for Federal Student Aid (FAFSA) at fafsa.ed.gov.

The application can be completed entirely online — you and your parents will "sign" the application electronically by getting a PIN (Personal Identification Number) at fsaid.ed.gov/npas/index.htm.

How to File a FAFSA

To get started you will need:

  • Copy of you and your parents' 2019 federal tax return (if you are married, a copy of your spouse's tax returns if filing separately)
  • Mercy College Federal code: 002772

2021-2022 FAFSA opens October 1, 2020.

Am I Eligible for
Financial Aid?

In addition to providing documentation for financial need
(FAFSA and other verification forms upon request),
you must also:

Be a U.S. citizen or eligible non-citizen - Students with permanent resident status must provide alien registration information
Be regularly admitted to and enrolled at Mercy College as a matriculated student
Be enrolled full time - To be eligible for many types of scholarship and financial aid. Full time means 12 credits per semester as an undergraduate. Some types of aid, depending upon program restrictions and available funds, may be awarded to student enrolled in as few as 6 credit hours

Student Resources

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Aid calculator
Net Price Calculator

Use the Net Price Calculator to estimate federal, state and institutional aid eligibility and better determine possible out-of-pocket costs for your college education.

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Mercy College seal
Tuition & Additional Fees

Learn more about the latest costs of individual programs and see additional fees for different types of students.

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Work Study Program
Work Study Program

The Student Worker Program runs through the academic year. The majority of available positions are for students receiving Federal Work Study Funds through their financial aid package.

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Student clubs and activities
Student Accounts

The Office of Student Accounts is responsible for student billing and revenue collection. Student Accounts oversees monthly payment plans, discounts, deferred tuition payments, special programs, refunds, collection of past due student accounts and all departmental transactions.

Scholarships & Grants

How much do I actually have to pay?

Do I have payment options?

All incoming students are automatically reviewed for scholarship eligibility, all you have to do is have a completed FAFSA on file.

loans

Understanding Your Bill

We’ve created a helpful guide to help you read your Mercy College bill and explore your options for funding your education. Click here to learn more.

scholarships and grants

Federal & Private Loans

There are several options when it comes to loans, but the main ones are: Federal loans or Private loans. Click here to learn about loans.

Resources

How to Apply for Financial Aid

Mercy College makes applying for financial aid easy.  We only require students to complete the FASFA (Free Application for Federal Student Aid).  It contains the information we need to prepare your individual financial aid package.

The Office of Enrollment Services works with you to manage the financial aid process from application to enrollment.  If additional information is required, the office will contact you.  You can always come in to the Office of Enrollment Services and meet with your personal Enrollment Services counselor to ask questions and review your aid eligibility.

Mercy Connect makes applying for financial aid easy. You can access your personal data and update it. Be sure to check it monthly.  Mercy Connect is accessible from home computers, school computer labs and kiosks located around the four campuses. 

Satisfactory Academic Progress

For purposes of determining financial aid eligibility under Title IV of the Higher Education Act (HEA) of 1965, all institutions, including Mercy College, must establish reasonable standards for measuring whether a student is maintaining satisfactory academic progress (SAP). On October 29, 2010, the Secretary of Education published final rules aimed at improving the integrity of programs authorized under Title IV of the HEA. Effective July 1, 2011, institutions must comply with the published regulations that impact SAP. The Office of Enrollment Services has implemented its satisfactory academic progress policy to comply with said regulations.

Mercy College students who do not make satisfactory academic progress towards their degree will not be eligible for the following federal Title IV aid programs:

  • Federal Pell Grants.
  • Federal Supplemental Educational Opportunity Grants (SEOG).
  • Federal Work Study Program.
  • Federal Direct Loan Programs, both Subsidized and Unsubsidized loans.
  • Federal Direct Parent Plus Loan Program.

In addition, students who do not meet satisfactory academic progress will not be eligible to receive institutional (Mercy College-based) grants and scholarships.
NOTE: Students receiving academic scholarships must also meet the criteria outlined in the initial scholarship notification letter.

The Office of Enrollment Services will review academic records annually after each spring term to monitor that students are making progress towards degree completion. Students are required to maintain qualitative and quantitative standards, and may not exceed the maximum time frame for their program.

Qualitative Measure Standards

To maintain the qualitative standards of satisfactory academic progress, students must meet the cumulative GPA at the end of each academic year, as outlined in the charts below. The end of an academic year is defined as the end of the spring term of each academic year, regardless of the term an individual student began his/her studies with the College in a given academic year.

 

Undergraduate Students

ASSOCIATE'S DEGREE

BACHELOR'S DEGREE

Credit hours attempted

Cumulative GPA

Credit hours attempted

Cumulative GPA

0-15 credits

1.50 GPA

0-30 credits

1.50 GPA

16-30 credits

1.75 GPA

31-60 credits

1.75 GPA

31+ credits

2.00 GPA

61 credits or above

2.00 GPA

 

Graduate Students

ALL GRADUATE DEGREES

Credit hours attempted

Cumulative GPA

1+ credits

3.00 GPA

 

Quantitative Measure Standards

Cumulative Progress

To quantify academic progress, students must successfully earn credits toward their degree greater than or equal to 67 percent of the credits attempted.
For example, if a student has attempted 30 credit hours, he/she must earn 21 credits of those attempted (21 earned credits / 30 attempted credits x 100 percent = 70 percent). In this case, earning 20 credits would not be enough to equal 67% (20 earned credits / 30 attempted credits x 100 percent = 66.66 percent).

Maximum Time Frame

The number of credit hours for which a student may receive federal financial aid may not exceed 150 percent of the credit hours required to complete the academic program's published length.
Examples: If Student A is enrolled in a bachelor's program that requires 120 credit hours for completion, then 180 hours is the maximum number of attempted hours permitted for federal student aid eligibility (150% x 120 credit hours = 180). If Student A enrolled in an associate's program, he/she may receive aid for up to 90 attempted credit hours (150% x 60 credit hours = 90).
If Student B is enrolled in a master's program that requires 48 credit hours for completion then 72 hours is the maximum number of attempted hours permitted for federal student aid eligibility (150% x 48 credit hours = 72).

Evaluation and Notification of Federal Title IV Aid Ineligibility

The Office of Enrollment Services will review all students’ academic records annually at the conclusion of the respective spring term. Students who are not making satisfactory academic progress towards their degree will immediately lose eligibility for future Title IV aid. Students will be notified of their ineligible status via electronic or postal mail from the Office of Enrollment Services. Note: If a student has a grade change or correction to their academic record subsequent to the review process, he/she should notify his Student Services Counselor in writing to request a reevaluation of their Title IV academic progress.

Determination of Attempted Credits and Earned Credits

The College includes all courses attempted at Mercy College plus course work accepted
as transfer credit towards the student’s declared major in the quantitative measurement
in determining successful SAP.
Click here for a more detailed policy.

Satisfactory Academic Progress Appeals

Mercy College has established a Title IV SAP appeal process. Students who have unforeseen extenuating circumstances that prevented them from making SAP may submit an appeal in writing to the SAP Appeals Committee.

Students are able to submit their appeal through MercyConnect

Click here for additional information on the appeals process.

Contact Us

Give us a call: 877-MERCY-GO

Hours:
Monday - Thursday: 9:00 AM - 7:00 PM
Friday: 9:00 AM - 5:00 PM
Saturday*: 9:00 AM - 2:00 PM

*Office is open only the 2nd and 4th Saturdays of the month.

 

Dobbs Ferry Campus

Location: Mercy Hall

Hours: 
Monday - Thursday: 9:00 a.m. - 7:00 p.m.
Friday: 9:00 a.m. - 5:00 p.m.

2nd and 4th Saturdays of the month:
9:00 a.m. - 2:00 p.m.

Manhattan Campus

Location: Sixth Floor

Hours:
Monday - Thursday: 9:00 a.m. - 7:00 p.m.
Friday: 9:00 a.m. - 5:00 p.m.

2nd and 4th Saturdays of the month:
9:00 a.m. - 2:00 p.m.

 

Bronx Campus

Location: First Floor

Hours:
Monday - Thursday: 9:00 a.m. - 7:00 p.m.
Friday: 9:00 a.m. - 5:00 p.m.

2nd and 4th Saturdays of the month:
9:00 a.m. - 2:00 p.m.