
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.
Direct loans can help offset the cost of tuition and course-related expenses, but they must be re-paid. Direct Loans are backed by the Department of Education.
 | Dependent Students | Independent Students |
Freshmen |
$5,500 |
$9,500 |
Sophomore | $6,500 (maximum $4,500 Subsidized) |
$10,500 (maximum $4,500 Subsidized) |
Junior | $7,500 (maximum $5,500 Subsidized) |
$12,500 (maximum $5,500 Subsidized) |
Senior | $7,500 (maximum $5,500 Subsidized) |
$12,500 (maximum $5,500 Subsidized) |
Â
There are a number of private educational loan programs available to students who need additional money to cover their college expenses. These loans are credit-based and require a separate application process independent of the FAFSA. The basic terms of most private loans are similar:
There may be differences between the repayment terms and benefits offered to borrowers depending on the loan program and lender. Students who are thinking about borrowing a private loan should consider and compare all options carefully before deciding.
Mercy College has partnered with ELM Resources, a non-profit corporation that offers students the ability to compare and select the educational loan that best fits their needs. Clicking the link below will take you to Mercy's ELM partner site. You will be able to compare a number of different options and their terms and benefits and apply online.
ELMSelect - Mercy College |
---|
Please note that Mercy College does not have a "preferred" lender list. The lenders and programs show on the partner site are listed based on historical borrowing by past Mercy students and area offerings determined by ELM. This order of the listing is random and Mercy does not prioritize any one program over another. You may choose one of the products listed, or choose any lender and product not listed, and Mercy College will process your loan once we have been notified.