The process of applying for financial aid begins with the filling out the FAFSA (Free Application for Federal Student Aid).
In order to be eligible for institutional aid from Mount Mercy, the Student Financial Services Office must receive all necessary documents for processing aid by October 1st for the Fall Semester and March 1st for the Spring Semester. This policy applies to incoming students as well as continuing students.
Students are encouraged to talk to counselors in the Student Financial Services Center about all of the aid options available. From scholarships and grants, to federal and private loans there are resources available to unite you with the opportunity to pursue your degree.
Mount Mercy’s financial aid award letter will serve as official notification of the student’s financial aid eligibility. The award letter, while not a commitment of funds, is an initial indication of state, federal, institutional, and outside agency funds available. The award letter will include the amounts of federal, state and institutional aid for which the student is awarded, and the award period.
To receive aid from the major federal student aid programs and in order to determine eligibility for institutional aid, a student must:
- Be enrolled as a regular student in an eligible program. A regular student is someone who is enrolled for the purpose of obtaining a degree.
- Have a high school diploma or its recognized equivalent or pass a U.S. Department of Education-approved test. Home-school students are also eligible under certain circumstances.
- Be making satisfactory academic progress.
- Be a U.S. citizen or eligible non-citizen.
- Certify that he/she is not in default on any Federal Student Aid (FSA) loan or owe an overpayment on any FSA grant or loan.
- Provide a correct Social Security number.
- Register with Selective Service, if required.
- File the FAFSA (Free Application for Federal Student Aid). The result yielded from this form is an Expected Family Contribution (EFC).
- Provide federal tax returns, verification worksheets, and any other information if requested.
- Attend class on a regular basis.
All federally funded programs are subject to change as a result of legislative action.
State Financial Aid
To be eligible for state financial aid programs, a student must be: a resident of Iowa (as defined by the State Board of Regents) and a United States citizen; or residing in the United States on a permanent visa; or a refugee (as defined by the U.S. Citizenship and Immigration Services); and currently enrolled or planning to enroll at least part-time (3 hours minimum) in an undergraduate degree program.