By completing the FAFSA (Free Application for Federal Student Aid), you are taking the first step in the financial aid process. The FAFSA will:
- Determine your eligibility for the Federal Pell Grant.
- Determine your eligibility for the Ohio Instructional Grant (OIG).
- Determine your need (family contribution) that will be used to calculate your eligibility for other types of financial aid, e.g., Federal Stafford loans, institutional aid, certain scholarships, campus-based aid, etc.
Mercy College's code is 030970.
After you complete the FAFSA, you will receive a summary called the Student Aid Report (SAR). This report will tell you if you have been selected for verification. Verification is the process used to compare the information on the SAR to documentation you provide including signed tax returns, W2 forms, and a verification worksheet. The verification process needs to be completed within 30 days of the receipt of your SAR.
- complete the FAFSA application
- have a high school diploma or a GED Certificate
- be enrolled or accepted for enrollment as a regular student in an eligible program
- be a U.S. citizen or eligible non-citizen
- have a valid Social Security Number
- make satisfactory academic progress
- register with Selective Service if required
- not be in default on any loan and/or owe a repayment on any grant
- be registered with Selective Service, if required
A simple formula is used to determine your eligibility for need-based financial aid.
Cost of Attendance - Family Contribution = Unmet Need
Your cost of attendance includes your costs for tuition and fees, books and supplies, transportation, room and board, and miscellaneous personal expenses to attend Mercy College for one academic year.
Your family contribution is calculated from your FAFSA and reported on your Student Aid Report (SAR).
Once the financial aid office receives a student aid report (SAR) from an accepted student, the financial aid officer combines aid from available programs to form a financial aid package. Therefore, some students will end up with a combination of aid from different sources. Acceptance of the package, or any source of aid, constitutes a commitment on the part of the student. The student commits to maintaining satisfactory academic progress, notifying the financial aid office and/or lender of any changes in housing, finances, status at the institution, additional receipt of financial aid, etc. that may occur.
Any student receiving financial aid is required to make Satisfactory Academic Progress to continue to receive financial aid at Mercy College of Northwest Ohio. The requirements are:
- It must not take the student longer than 150% of the two years to complete the program.
FIVE SEMESTER PROGRAM
Full-time enrollment...................... 7.5 semesters
Three-quarter enrollment ................. 10 semesters
Half-time enrollment ..................... 15 semesters
- Maintain a minimum cumulative GPA of 2.0.
- Complete 60% of registered courses for the first academic year and 75% of registered courses for each remaining academic year.
Example: A full-time, second-year student taking eight courses during the academic year would be required to satisfactorily complete at least six of the courses during the academic year.
At the conclusion of each academic year, if a student is found not to meet the above requirements, he or she will be placed on Financial Aid Probation for the period of two terms. At the conclusion of the probationary time, if the student has not completed the required coursework and/or attained the required GPA, financial aid will not be available until satisfactory progress has been achieved at the student's own expense.
Any student may appeal the decision to revoke financial aid. A written appeal must be submitted to the Financial Aid Officer. The appeal will be reviewed by the Financial Aid Committee, and the student will be notified in writing of the decision within seven working days.
To transfer financial aid from another institution to Mercy College, you will need to do the following:
- List Mercy College on your Student Aid Report (SAR). If you did not list Mercy originally, a correction must be made. This can be done on your copy of the SAR. If you no longer have a copy of the SAR, you can request a duplicate copy by calling 419-337-5665, completing a duplicate request form (available in the financial aid office) or requesting an electronic duplicate request from your current college. You may also check with your current institution for a DRN number on your SAR. If you have your DRN number, Mercy can process the request for you.
- Complete a new promissory note including loan application and worksheet at Mercy College. The loan at your current institution will need to be canceled for the terms you will be attending Mercy College before a new loan can be certified.
- Submit any documentation that may be required if you are selected for verification by the Department of Education, even if you have already completed this at another institution.
It is recommended that you make an appointment to discuss the transfer process at Mercy College. This will assure that you have completed the necessary steps for your financial aid to be processed and avoid possible delays.
No, you can only receive financial aid from one institution during any given term. You CANNOT mix the types of financial aid you receive from different packages at different institutions.
You must have a valid Student Aid Report (SAR) to determine eligibility for Federal Family Education Loans (FFELP). All required documentation must be received by the financial aid office before any loans can be certified, including verification, if required. Loan application and worksheets need to be completed and returned to the Financial Aid Office. You may also complete your application by clicking on the link below.
The earliest time that loan checks are available to continuing students is after the first day of attended classes. If this is your first term and first loan at Mercy College, you must wait 30 days from the first day of the term to endorse/process your loan check(s). All first time borrowers at Mercy College are also required to attend an entrance interview before receiving the first loan disbursement. The purpose of the interview is to explain your rights and responsibilities as a student loan borrower. Also, any time you leave the College for any reason -- a leave of absence, withdrawal, or graduation, or drop below half-time status, less than 6 hours, you will be required to attend a loan exit interview.
The financial aid office will notify you when loan checks are ready to be processed. Any loan check that remains unsigned for 30 days will be returned to the lender.
Before each disbursement is made, the Financial Aid Office will verify your eligibility. In addition to the general eligibility requirements, you must:
Withdrawing from classes or reducing registered credit hours may affect financial aid eligibility. Also, you are responsible for notifying the Financial Aid Office of any additional awards, scholarships, and/or fees, residence hall, library, gift shop, or any other college department expenses.
Financial aid is available to eligible students. It is suggested that applicants meet with the Financial Aid Office as soon as possible to discuss financial aid options. Mercy College participates in the Federal Pell Grant, Federal Supplemental Opportunity Grant (FSEOG), Federal Work Study, Federal Family Educational Loan Program, the Ohio Student Supplemental Loan Program, TERI Alternative Loan Program, Key Alternative Loan Program, Ohio Instructional Grant (OIG), Ohio War Orphan Scholarship, Veterans Education Benefit Programs, and the Ohio National Guard Tuition Assistance Program.
You must officially withdraw from your courses. This process can be started with the Registrar. Please see the Registrar's Office for complete process details.
The Federal Formula requires a return of Title IV aid if the student received funds in the form of a Federal Pell Grant, FSEOG, and /or FFELP loans and withdraws on or before completing 60% of the term. A repayment may be required when funds have been disbursed to a student in excess of the amount of aid the student earned during the term. The responsibility for returning unearned aid is allocated between the College and the student.
The College returns the lesser of:
- Institutional charges X unearned percentage OR Title IV aid
- Disbursed X unearned percentage
The student returns any remaining unearned aid not covered by the College. Loan Funds are repaid in accordance with the promissory note. Grants must be repaid within 45 days, or arrangements made with the U.S. Department of Education.
See the Financial Aid Office for the complete policy and samples. To receive additional information about financial aid opportunities, please contact the Financial Aid Office.
