Financial Assistance

Federal and State Programs

Federal financial aid programs are available to qualifying students enrolled in any Mercy College associate or bachelor degree and qualifying certificate programs. State funds are available for degree seeking students who qualify.

Many forms of financial aid (including, but not limited to those listed below) are tied directly to the Free Application for Federal Student Aid (FAFSA). Students and their spouses or parents must complete this application to qualify for financial aid. It is recommended that this be done at www.fafsa.ed.gov. Mercy College’s Financial Aid Office will receive the FAFSA information electronically from the Federal Government provided the student uses Mercy College’s school code (006273) when completing the FAFSA.

Iowa Grants

The Iowa Grant is awarded to high-need Iowa residents. (Subject to funding.)

Iowa Tuition Grant

The Iowa Tuition Grant is based on financial need, with priority given to applicants with the greatest need. Applicants must be residents of Iowa, as defined by the Iowa State Board of Regent’s guidelines, and submit their FAFSA by June 30. (Subject to funding.)

Pell Grant

The Pell Grant is a federal grant based on financial need.

Stafford Loans

Eligibility for a Federal Stafford Loan is determined after subtracting other aid from the total cost of a student’s education for the year.

The Stafford Loan program enables the student to borrow funds directly from a bank, savings and loan association, credit union, or other participating lender. Maximum loan amounts vary.

Subsidized Stafford Loans are interest-free during the time the student is in college. Repayment begins six months after graduation, withdrawal, or if the student drops to less than half-time enrollment.

Unsubsidized Stafford Loans can be obtained by students who do not demonstrate financial need. For unsubsidized loans, payment of both the principal and interest may be deferred, but interest begins to accrue at the time the loan funds are disbursed.

Supplemental Educational Opportunity Grants

A Supplemental Educational Opportunity Grant (SEOG) is for students with exceptional need and gives priority to students who receive Pell grants. (Subject to funding.)

Work-Study Program

The Student Work-Study Program provides financial assistance as well as the opportunity to broaden one’s educational experience. Students receive bi-weekly checks. Work-study positions are subject to availability.

Veterans Educational Benefits

Mercy College degree programs are approved by the Iowa Department of Education for education benefits administered by the U.S. Department of Veterans Affairs. Veterans or eligible dependents planning to enroll at Mercy College should contact the VA Regional Office in St. Louis, Missouri well in advance of their anticipated enrollment date to establish eligibility and to allow sufficient processing time by the VA. The application process for new claims takes a minimum of eight weeks to complete by the DVA. Please contact the Registrar’s Office if you have any questions.  Mercy College participates in both the Yellow Ribbon Program and the Military Spouse Career Advancement Accounts (MyCAA) Program.

Packaging of Federal Financial Aid

1. Priority consideration will be given to admitted students whose completed FAFSA are received by April 15.
2. 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.
3. 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.
4. 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.
5. To receive federal financial aid, a student must be accepted into a qualifying academic program.
6. Financial Aid awards are mailed to students based on full-time enrollment. Aid will be adjusted based on the number of actual registered credits.
7. If a student is taking academic credits at another institution while attending Mercy College, the student is responsible for providing appropriate documentation.

Mercy Medical Center Educational Incentives

Many health care employers provide tuition support to encourage continuing education for all employees. Mercy Medical Center—Des Moines has a significant record of innovation in promoting educational opportunities for its employees and their dependents. Those currently employed in health care, either at Mercy Medical Center or elsewhere, are encouraged to contact their human resources department to learn what options are available to support their educational goals.

Mercy Scholars Program

After six months of employment, employees, spouses and legal dependents are potentially eligible for tuition assistance for eligible educational programs while attending Mercy College (up to 100% of the tuition expense, based on length of employment). Students must make a commitment to work at Mercy Medical Center after graduation for a specified period of time. If commitments to work are not satisfactorily met, students must reimburse Mercy for outstanding educational expenses. There are application deadlines each semester to be eligible. Refer to Mercy Scholars Tuition Reimbursement Corporate Policy on MercyNet for more information.

CHI Tuition Reimbursement

Employees eligible for benefits, whether full-time or part-time and who are in good standing can receive tuition reimbursement. Full-time employees are reimbursed for up to $3,000 and part-time for up to $1,500, both per calendar year (January 1 through December 31). For complete details and forms refer to HR/Payroll Connection within the InsideCHI website.

Tuition Discount for Dependents

After six months of employment, Mercy Medical Center—Des Moines employees whose dependents are interested in starting or continuing their liberal arts and sciences education may enroll as unclassified students at Mercy College and qualify to receive a 75% discount off of the credit hour tuition rate. The discount will only apply to courses for which space is available at the time of registration.

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 at least 2.00. During this probationary semester, students remain eligible for financial aid. After the probationary semester, students will lose their financial aid eligibility until their 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 financial aid minimum credit hour total: 1) courses with a grade of “I” (Incomplete); 2) repeated courses with an original grade of “D” or higher; 3) non-credit courses; 4) courses being audited; and 5) courses from which you have withdrawn.

Scholarship Programs

Mercy College and donor designated scholarships administered by the Department of Institutional Advancement, with the assistance of Mercy Foundation of Des Moines, are available beginning on March 1 for fall funding and on a limited basis, October 1 for spring funding. Applications must be submitted to the Office of Institutional Advancement by the date noted online. Students are not eligible to receive more than one scholarship in a 12-month period for the same scholarship even if it remains available twice a year.
Applicants are able to submit a single application for a series of similar scholarships. Several different group applications will be available for various categories of scholarships. To support each application, students will need to submit a type-written essay and in most cases one letter of recommendation from someone who can attest to the applicant’s demonstration of the defined Mercy College values. Click here for the list of available scholarships as well as the forms to be used in the scholarship application process.

In many cases, documentation of financial need is required and will be validated using data authorized for release from the applicant’s FAFSA. Failure to file a timely FAFSA for scholarship application deadlines that require such documentation will result in the elimination of the application from committee review.

Scholarship committees generally include faculty representatives, alumni, Mercy Medical Center - Des Moines staff members, and friends of the College.