Financial Aid Policies
Satisfactory Academic Progress Standards
Policies
- Priority consideration will be given to admitted students whose completed FAFSA are received by April 15.
- Pell Grants, Iowa Tuition Grants, Iowa Grants, and external scholarships and grants will be applied first. Mercy grants and loans are applied next according to need.
- In the event that a student receives additional funds from outside sources, it is the student’s responsibility to notify the Financial Aid Office. Reductions or adjustments in previously packaged assistance may result.
- Withdrawal from the College or dropping of a course may result in the adjustment of a student’s financial assistance package. The student should discuss the potential impact of such a decision with the Financial Aid Office prior to making schedule changes.
- To receive federal financial aid, a student must be accepted into a qualifying academic program.
- Financial Aid awards are mailed to students based on full-time enrollment. Aid will be adjusted based on the number of actual registered credits.
- If a student is taking academic credits at another institution while attending Mercy College, the student is responsible for providing appropriate documentation.
Satisfactory Academic Progress Standards
Students receiving federal and/or state funded aid are required to make satisfactory academic progress.
Students are required to maintain a 2.00 cumulative GPA. Students who do not have a cumulative 2.00 GPA at the end of any semester of enrollment are granted one probationary semester in which to raise their GPA to 2.00. After the probationary semester, students will lose their financial aid eligibility until the cumulative GPA reaches 2.00.
Students must complete at least 24 credit hours per academic year at full-time status. Part-time students must complete one-half of the credit hours attempted. If a student fails to meet these requirements, the student will lose financial aid eligibility until the required hours are completed.
The following courses and/or situations do not apply when calculating the minimum credit hour total:
- Courses with a grade of "I" (Incomplete)
- Repeated courses with an original grade of "D" or higher
- Non-credit courses
- Courses being audited
- Courses from which one has withdrawn
Students who elect to repeat a course for a better grade will only receive financial aid for the repeated course if the original grade earned was an "F."
If a student does not meet the minimum requirements due to extenuating circumstances, an appeal may be made in writing to the Financial Aid Office. An appeal committee will review the student's request and notify the student of its decision in writing.
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