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Federal Loans

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Mercy College of Ohio's School Code is 030970-00.

Federal Direct Stafford Loan

Federal Direct Subsidized and Unsubsidized Loans are used to assist in paying for college expenses. These loans are in the student’s name and the student is responsible for repaying them after they leave school or drop below half-time enrollment (6 credits).

For more information regarding interest rates, please visit https://studentaid.ed.gov/sa/types/loans/interest-rates


Please complete the following steps in order to receive a Federal Direct Stafford Loan.

  • Complete a FAFSA, if you have not already done so (school code – 030970)
  • Review your Mercy College award letter and accept/decline/reduce you loan on-line
  • Complete your on-line Entrance Counseling (1st time borrowers only)
  • Complete an electronic Master Promissory Note (MPN)

Federal Direct PLUS Loan

Federal Direct PLUS Loans are loans that a parent can apply for in order to assist in paying for college expenses for their dependent student. These loans are in the parent’s name and the parent is responsible for repaying them. : For more information regarding interest rates, please visit https://studentaid.ed.gov/sa/types/loans/interest-rates

Graduate students are eligible to borrow under the PLUS Loan program up to their cost of attendance minus other estimated financial assistance. : For more information regarding interest rates, please visit https://studentaid.ed.gov/sa/types/loans/interest-rates

Please complete the following steps in order to receive a Federal PLUS Loan.

Default Rate

The Department of Education publishes federal Cohort Default Rates for every institution. Visit Mercy College of Ohio’s Default Rates to access more information.

Dig Deeper : StudentAid.gov

For full details regarding federal aid loan programs, please visit StudentAid.org