Gwynedd Mercy University
AY2022-2023 Undergraduate Academic Catalog
FINANCIAL AID
Gwynedd Mercy University ’ s financial aid program is designed to provide financial assistance to qualified students . The University endeavors to assist as many students as possible using Gwynedd Mercy University funds as well as federal , state , and other funds . Students applying for financial aid are considered for all aid sources for which they are eligible .
All undergraduate students are encouraged to complete the Free Application for Federal Student Aid ( FAFSA ) to determine their eligibility for need-based institutional , federal , and state aid .
Students Enrolling in Term Programs : Most students will receive a comprehensive financial aid package , which consists of some combination of scholarship / grants , loans and / or federal work study , based on the results of their Free Application for Federal Student Aid ( FAFSA ). In addition to merit scholarships , which are awarded to full-time students who enroll in traditional , semester-based programs , campus undergraduate students may be eligible for institutional , federal , and state financial assistance based on their demonstrated financial need as indicated on the FAFSA . Funds available , academic records , and number of applicants may also affect the amounts and types of aid awarded to a student .
Students who choose not the submit a FAFSA must notify the Office of Financial Aid , so the Aid office can apply any merit scholarship funding to the student ’ s account .
Students Enrolling in Non-Term Programs : Students may be eligible for state and federal need-based aid based on the results of their FAFSA .
Second-Degree Bachelor ’ s Students : In general , students pursuing a second bachelor ’ s degree are not eligible for federal or state grants aid but may be eligible for federal student loans or private loans .
Determination of Financial Need
Financial need is determined based on information supplied on the Free Application for Federal Student Aid ( FAFSA ). All applications are analyzed according to a formula known as the Federal Methodology . In determining the extent of a student ’ s need , consideration is given both to the amount of support that may be expected from all family resources , as well as to those factors which affect a family ’ s financial strength , such as taxes , number of dependents , debts , other educational responsibilities , and retirement needs . Financial aid is awarded for one academic year at a time ; students must re-apply annually for renewal of aid . Renewal depends upon continued eligibility , satisfactory academic progress , and availability of funds .
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