Gwynedd Mercy University AY2020-2021 / 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 . Satisfactory Credit History is Required . 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 www . studentloan . gov .
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 www . elmselect . com .
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 ; generally , they are paid twice monthly through the university business office . The University cannot guarantee a job or total earnings as awarded because the program is limited by the amount of funds received from the federal government .
Veterans Benefits
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 certification request can be submitted to the VA by the first day of class . These students will be treated as “ paid students ” and will not be prevented from enrolling in classes or denied access to any school resources or facilities available to other University students in good financial standing . These students also will not be assessed a late penalty fee or required to secure additional funding to cover the late VA payment . GI Bill ® is a registered trademark of the U . S . Department of Veterans Affairs ( VA ). More information about education benefits offered by VA is available at the official U . S . government Web site at
www . benefits . va . gov / gibill . The University serves only as a certifying and transmittal agency
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