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Types of Aid

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Most federal programs are awarded on the basis of demonstrated financial need. Need is the difference between what it costs to attend a specific institution and what the family is able to contribute toward that cost. This family contribution can only be determined by filing the Free Application for Federal Student Aid (FAFSA).

Scholarships

Mercy College, through generous gifts from individuals, friends, and alumni, as well as academic, professional and business organizations, is pleased to offer institutional scholarships. The purpose of these scholarships is to give recognition and support to academically strong students attending Mercy College.

Learn More About Scholarships

Grants

Grants are awarded on the basis of financial need and do not require repayment. The grants that are available for qualified undergraduate students through Mercy College of Ohio are the Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), and the Ohio College Opportunity Grant (OCOG). You must complete a Free Application for Federal Student Aid (FAFSA) in order for Mercy College to determine eligibility.

Loans

Several different loan options exist. All loans must be repaid. Not all loans are based upon need. You must complete the Free Application for Federal Student Aid (FAFSA) in order to apply for Federal Loans.

The loan programs available at Mercy College of Ohio are:

  • Federal Direct Subsidized Stafford Loans (undergraduate)
  • Federal Direct Unsubsidized Stafford Loans (undergraduate and graduate)
  • Federal Direct PLUS Loans (undergraduate and graduate)
  • State of Ohio Nurse Education Assistance Loan Program (NEALP)
  • Private Alternative Loans (credit based)

After all Federal and Private Loan options are exhausted, Mercy College of Ohio has two loan programs (if funds are available):

  • Charles E. Schell-Fifth/Third Bank Trustee No-Interest Loan
  • Paul J. Kessler, III Interest-Free Loan

Certain restrictions apply and not all students are eligible. Please contact the Financial Aid Office for more information.

Learn More About Loans

Federal Work-Study Program

Mercy College of Ohio also participates in the Federal Work-Study Program. This program provides part-time jobs for undergraduate students with financial need, allowing them to earn money to help pay educational expenses. The program encourages community service work and work related to your course of study.

The current pay rate for the Federal Work-Study Program is $10.00 per hour, which is above the current federal minimum wage. Your total Federal Work-Study award depends on when you apply, your level of need and the funding level of the College. You’ll be paid hourly and receive a paycheck biweekly. You can use the money earned to pay for your education-related institutional charges such as tuition and fees.

If you are hired for a Federal Work-Study position, you will be required to meet the Mercy Health hiring requirements. This process includes a background check and medical screening.

You may work on campus for the College or off campus for a private nonprofit organization, and the work you perform must be in the public interest. The amount you earn can’t exceed your total Federal Work-Study award. To apply, please complete the job application found on the financial aid forms page.