STUDENT
FINANCIAL
AID
15
STUDENT FINANCIAL AID Undergraduate Students Gwynedd-Mercy’s financial aid program is designed to provide financial assistance to qualified students whose resources are inadequate to meet the costs of attendance at the College. The College endeavors to assist as many students as possible using Gwynedd-Mercy funds as well as federal, state and other funds available. Students applying for financial aid are considered for all programs for which they are eligible. Financial aid is usually offered through a financial aid package, which consists of some combination of scholarship/grant, loan and employment. Most financial aid is awarded on the basis of demonstrated financial need. Funds available, academic record, and number of applicants may also affect the amounts and types of aid awarded to a student. Approximately 90% of the full-time student body receives financial aid administered by Gwynedd-Mercy College.
Determination of Financial Need Financial need is determined on the basis of information supplied on the Free Application for Federal Student Aid (FAFSA). All applications are analyzed according to a formula known as the Federal Methodology. In determining the extent of a student’s need, consideration is given both to the amount of support that may be expected from all family resources, as well as to those factors which affect a family’s financial strength, such as taxes, number of dependents, debts, other educational responsibilities and retirement needs. Financial aid is awarded for one academic year at a time; students must re-apply annually for renewal of aid. Renewal depends upon continued eligibility, satisfactory academic progress, and availability of funds.
Aid Application Procedures A.
New Entering Students Students who wish to receive consideration for financial aid, in addition to fulfilling the requirements for general admission, must: 1. Submit the Gwynedd-Mercy College Financial Aid Application to the financial aid office. 2. Submit the Free Application for Federal Student Aid (FAFSA) to Federal Student Aid Programs. Suggested submission date is February 15 to ensure timely processing. Gwynedd-Mercy College’s federal code is #003270. Above requirements should be fulfilled by priority filing date - March 15