Gwynedd Mercy University
AY2023-2024 Undergraduate Academic Catalog
methodology . To receive consideration , the student must submit a completed FAFSA and be enrolled for at least three credits per semester in a degree or certificate program . The Student Financial Aid Office will include available Pell Grant Funding as part of an eligible student ’ s comprehensive financial aid package .
Federal Supplemental Educational Opportunity Grant ( FSEOG ) 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 ( PHEAA ( Pennsylvania Higher Education Assistance Agency )) 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 drop 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
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