Gwynedd Mercy University AY2021-2022 Undergraduate Academic Catalog
Federal Direct PLUS Loan Direct PLUS Loans are low-interest loans available for the parents of dependent students and for graduate / professional degree students . The amount of the Direct PLUS Loan may not exceed COST of ATTENDANCE minus any estimated financial aid the student has or may receive during the period of enrollment . Interest on the Direct PLUS Loan is a fixed rate which is set in July of every year . Interest is charged during all periods beginning on the date of the first disbursement . The Direct PLUS Loan Master Promissory Note ( MPN ) can be obtained online at https :// studentaid . gov .
Nursing Student Loan ( NSL ) Gwynedd Mercy University participates in the Federal Nursing Student Loan program . Through this program , the University provides long-term , low-interest loans to students who demonstrate financial need and demonstrate academic proficiency . A maximum of $ 5,200 for each of the junior and senior years of undergraduate enrollment . Repayment begins nine months after graduation or termination of studies and borrowers are allowed 10 years to repay the loan . During the repayment period , 5 % interest is charged on the unpaid balance of the loan principle .
Alternative Loans In addition to the Federal Loan Programs , a student and / or credit-worthy co-signer may borrow funds not to exceed cost of attendance . Since Private / Alternative loans have different fee and rate structures , applicants are encouraged to request information directly from the lender or on the web at https :// www . elmselect . com / v4 /.
Employment
Employment is regarded as “ self-help ” and is made available to eligible students enabling them to finance their educational costs through job earnings .
Federal Work-Study ( FW-S ) Work Study is a federal aid program , which provides employment both on Gwynedd Mercy University ’ s campus and off-campus with approved public or private non-profit agencies . Federal Work-Study is best described as the opportunity to work and earn a predetermined amount of money . Eligible students may be employed for a maximum of 10 hours weekly during the school year and 40 hours weekly during the summer and vacation periods . FW-S students are paid on an hourly basis for work performed ; they may use these funds to cover their educational or personal expenses while enrolled at the University . Generally , students with FW-S jobs are paid twice monthly through the university business office . The University cannot guarantee a job or total earnings as awarded because the FW-S program is limited by the amount of funds received from the federal government .
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Benefits
Veterans Benefits Any student utilizing Ch . 33 Post 9 / 11 GI Bill ® or Veteran Readiness and Employment ( VR & E )— formerly known as Vocational Rehabilitation and Employment--benefits will be considered by Gwynedd Mercy University as in good financial standing even if the VA is delayed in making payments to the university , provided the student can produce the VA ’ s Certificate of Eligibility by the first day of class , and / or provide any additional information needed by the University ’ s VA Certifying Official to ensure the enrollment
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