What
types of aid are available?
Your financial aid package may consist of scholarships, grants,
work-study, and loans available from Mount Mercy College, federal
and state sources. Scholarships and grants do not need to be repaid.
How
do I apply for college, federal, and state financial aid?
You need to submit the Free Application for Federal Student Aid
(FAFSA) as soon as possible after January 1. This form is available
online
or from you high school guidance office or a college financial
aid office.
What
types of scholarships does Mount Mercy College award?
Mount Mercy College offers academic and departmental scholarships.
What
if I don't qualify for any need-based financial aid?
Mount Mercy College offers several scholarships, a work-study
program and low-interest loan options for students not showing
financial need.
When
will I find out my financial aid award?
Mount Mercy College begins releasing financial aid awards to all
admitted students in mid-March. Remember, you must be admitted
to Mount Mercy College and have submitted a FAFSA before notice
of a financial aid package will be sent to you.
Are
there any deadlines for applying for financial aid?
There are several deadlines that are important in the financial
aid process. February 1 is a priority application date for Mount
Mercy College scholarships and grants. March 1 is Mount Mercy
College's priority FAFSA filing date for federal programs. Iowa
Tuition Grant and Out of State Grants require that FAFSA be filed
prior to July 1. Complete
Timeline
How
can I file my FAFSA by March 1 if my or my parents' taxes aren't
completed before March 1?
You can file the FAFSA even if you haven't done your taxes. There
is a question on the FAFSA where you can indicate that taxes are
not yet filed. To complete the FAFSA, you can utilize W-2's or
the previous year's tax returns. Once current taxes are filed,
we will collect copies and make the necessary corrections.
What
if I don't plan to file a FAFSA?
While we encourage everyone to complete a FAFSA, we only require
filing for those individuals receiving a Holland Presidential
Scholarship. If you do not plan to file, you need to notify either
your Admission Representative or the Financial Aid Office.
Do
I need to re-file a FAFSA each year I am in school?
In order to be considered for federal and state aid on a yearly
basis a renewal FAFSA must be completed each year by annual deadline
dates.
What
do I need to do if I need to update my enrollment status or FAFSA
information?
It is important to contact the Financial Aid Office with any changes
in enrollment plans. We should also be notified of any changes
that need to be made to your FAFSA. Depending on the particular
situation, changes to the FAFSA may not be allowed.
Why
was I selected for verification?
Most files are randomly selected by the federal government for
verification purposes. In fact 30 percent of all FAFSA filers
are selected by the U.S. Department of Education. On occasion
we select a file for verification if we believe that the information
reported is inconsistent with other information listed on the
current or previous year's FAFSA.
Is
there paperwork needed to process my Stafford and/or Perkins loans?
Students receiving Stafford and/or Perkins loans for the first
time need to complete a Master Promissory note and Entrance Counseling.
You will receive a notice from the Financial Aid Office indicating
when your loan will be set-up on the website for completion. More
information can be found at our Loan
Counseling and Promissory Notes page.
When
will I receive my work study assignment?
Work assignments are mailed to all new students the first week
of August.
Do
I need to report outside scholarships to the Financial Aid Office?
Federal regulation does require that outside scholarships be considered
in the calculation of a financial aid package. You should report
the total of these scholarships prior to the start of each academic
year.
What
additional means are available to help fund my college education?
When
should I apply for a private or PLUS loan?
In order to have funding by the beginning of the school year,
we recommend applying for an alternative loan at the least one
month prior to the start of classes. It is also encouraged that
students apply for an alternative loan to cover the entire academic
year.
