Financial Aid Policies

Policies Satisfactory Academic Progress Standards

Policies

Priority consideration will be given to admitted students whose completed FAFSA is 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.
Estimated financial aid packages are sent to students based on full-time enrollment. Aid will be adjusted to the number of actual registered credits.
Students are responsible for providing appropriate documentation of academic credits enrolled in at other institutions while at Mercy College.

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Courses from which one has withdrawn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.