Gwynedd Mercy University 2025-2026 University Catalog 69
The Supplemental Educational Opportunity Grant is a federal aid program, which provides grants ranging from $ 100 to $ 4,000 annually to students who demonstrate exceptional financial need. Priority for the FSEOG must be given to Pell Grant recipients. FSEOG eligibility is determined by the results of the FAFSA. This grant may not exceed the Pell Grant amount awarded per semester.
Pennsylvania State Grants( Pennsylvania Higher Education Assistance Agency( PHEAA)) The Pennsylvania Higher Education Assistance Agency provides state grants ranging from $ 100 to $ 5,000 annually to eligible students. PHEAA requires that the program of study be at least two academic years in duration and that the student carry a minimum of six( 6) credits per semester. The state grant may be awarded for four full-time academic years contingent on annual application and continued eligibility. Veterans who satisfy all other PHEAA eligibility requirements may be entitled to a full state grant. To be considered for a PA State grant, students must file their FAFSA by May 1 of each year. For further information, contact: Pennsylvania Higher Education Assistance Agency( PHEAA) 800-692-7392.
State Grants / Scholarships Many states administer grant / scholarship programs for students attending colleges and universities both in and out-of-state. All Gwynedd Mercy University campus undergraduate students seeking financial aid are required to apply for state funds wherever available. Delaware, Massachusetts, Ohio, and West Virginia offer state grants for their residents who are studying in another state. Applicants should consult guidance counselors and / or state agencies for information.
Vocational Rehabilitation Grants The Office of Vocational Rehabilitation provides financial assistance for qualified students. Eligibility requirements must be discussed with a representative from the OVR office.
Loans Loans are regarded as“ self-help” and are made directly to students to help them cover the costs of their education. Loans need to be repaid.
Several types of loans are available to qualified students for all four years of study: Federal Subsidized, Federal Unsubsidized, Parent PLUS, and private student loans.
Loan amounts offered to students are contingent on adequate federal funding.
A loan is a serious responsibility and obligation. Students should exercise discretion when borrowing money for school. The full amount borrowed plus all accrued interest must be repaid whether the student borrower completes his / her program of study. Transcripts will not be released for any student whose file reflects default on repayment of a student loan.
While the principle of a student’ s loan may be deferred if the student is enrolled at least half-time, students may be responsible for making interest payments while enrolled. Repayment begins 6 months after a student drops below half-time or graduates and can be repaid over a 10-year period. Under certain federally mandated and approved conditions, borrowers may arrange to defer loan repayment and / or qualify to have loans cancelled in whole or part. Borrowers should note both deferment and cancellation provisions when negotiating the loans.