Financial Aid

To receive aid from the major federal student aid programs and 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), and Mount Mercy's FAFSA code is 001880
• 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.

To be eligible for state financial aid programs, a student must be:

• An Iowa resident (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)
• Currently enrolled or planning to enroll at least part-time (3 hours minimum) in an undergraduate degree program

All students who register to take class(es) at Mount Mercy University are required to electronically sign (e-sign) a Financial Responsibility Agreement (FRA).

The Financial Responsibility Agreement is a disclosure agreement between you and Mount Mercy University that states that you agree to pay all charges that result from your registration and services you receive from the university. You will be asked to acknowledge that you understand that you are responsible for paying all charges associated with your attendance and where applicable, residence costs at the university. The agreement also explains how your financial aid is used to pay your bill, the consequences of not paying your bill in a timely fashion, how the university will notify you about any outstanding balance you owe the university, social security number or taxpayer identification number requirement for 1098-T forms, and electronic distribution of 1098-T forms.

You (the student) will receive an email inviting you to read and sign the agreement. If you decline to sign the form, your enrollment will be subject to cancellation since you are not agreeing to pay the university. You will only need to sign the agreement once as long as you maintain continuous enrollment with the university.

Mount Mercy University accepts tuition reimbursement from employers who offer that benefit. We allow students that receive tuition reimbursement up to 45 days after the completion of the course to pay the course tuition.

Fill out the Deferred Billing Form.