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Types of Aid

Mercyhurst North East is made affordable not just by the already low cost, but also with the help of federal, state and institutional financial aid resources. Depending on your personal finances, academic program of choice and timely submission of important forms and documents (ie. the FAFSA®), your out-of-pocket expenses can be greatly reduced through financial aid.

The items below are the most-used types of financial aid by category: federal, state, institutional and private. While there may be other types of aid that are used from time to time, this list outlines the most common. Contact admissions or student financial services for answers to any financial aid related questions.

Institutional Aid

North East Grant

  • Amounts ranging from $600
  • Determined by need and financial situation
  • Must file the FAFSA® (no deadline for NE Grants)
  • Renewable for second year
  • Must be full-time (at least 12 credits per term)

North East Athletic Scholarship

  • Amounts ranging from $900
  • Amount determined by coach
  • Contract must be signed and returned
  • If student leaves team, scholarship may be adjusted/rescinded
  • Generally cannot get both North East Grant and North East Athletic Scholarship
  • Renewable

North East Institutional Employment

  • One of many work study positions available throughout campus
  • Get paid bi-weekly
  • Does not go towards tuition, so plan accordingly
  • Great way to meet people, make money and get job experience

Dean's Achievement Scholarship

  • For MNE students continuing studies at Mercyhurst Erie campus
  • Amount is determined by student's GPA

 

GPA  Scholarship Award 
3.5 - 4.0    $18,000
3.0 - 3.49    $16,000
2.75 - 2.99    $15,000
2.5 - 2.74    $10,000

 

  • Traditional students who earn less than 60 credits but no degree from MNE are eligible to receive a $7,200 Dean's Achievement Scholarship to transfer to the Erie campus
  • Adult students with a degree from MNE are eligible for a $2,200 Dean's Achievement Scholarship to attend the Erie campus.

 

Chamber of Commerce Scholarships

  • Any student working for a business that is a member of the Corry or North East Chambers of Commerce is eligible to receive roughly 25 percent off tuition at any Mercyhurst campus
  • The COC Scholarship is worth $500 per 3-credit course, up to $2000 per semester
  • You can register for the Chamber of Commerce Scholarship, prior to the beginning of your 1st term, here
  • Your employer may be asked to verify your status as an "employee in good standing."

 

Endowed Scholarships

  • Generally reserved for hardship cases
  • Usually require a thank you note be submitted to the financial aid office
  • Awarded at the discretion of the Office of Student Financial Services

 

Federal Aid

The following is a quick reference list. To learn more about federal aid click here.

Federal PELL Grants

  • Directly related to the student’s EFC, the PELL grant ranges from $600 to $5775
  • Does not have to be repaid
  • Need-based

SEOG Grants

  • A limited amount of SEOG grants are available for MNE students
  • Does not have to be repaid
  • Students must receive PELL to be eligible

Federal Direct Loans

  • May be either “subsidized” (meaning the government pays the interest on them while you’re in school or “unsubsidized” (your interest will accrue while in school)
  • In the student’s name, and no co-signer is required
  • All first-time students (never attended college before) will be eligible for $5,500 for their first year
  • If student is independent (according to FAFSA®), may be eligible for an additional $4,000

Federal Direct Parent Loans

  • PLUS loans are much like alternative loans, but are in the parent’s name
  • If parent gets denied, student gets an additional $4,000 Stafford loan
  • Repayment generally begins 60 days after last disbursement in a given school year
  • Click Here for more information

Federal Perkins Loans

  • A limited amount of Perkins Loans are available to MNE students
  • Subsidized
  • Student must receive the PELL grant to be eligible

 

State Aid

The following is a brief description of the state grant. To learn more, click here.

PHEAA State Grants

  • Must be a PA resident for at least a year
  • Must file your FAFSA by May 1; Aug. 1 if never attended before
  • Must be enrolled in at least a 2-year program
  • Must fill out and return the PHEAA state grant notice
  • Range from $500 to $4,000 depending on EFC and academic program

 

Private Loans

Alternative Loans

  • Numerous lenders offer student loans with interest rates starting at prime
  • Repayment for most begins six months after the student is no longer enrolled at least part-time
  • Creditworthy co-signers are usually required (does not have to be a parent)
  • For a list of lending options please visit www.elmselect.com.