| At its simplest level, financial aid is money provided to help bridge the gap between your family's own resources and the amount needed to pay for the cost of attending Mercer University. The primary responsibility for meeting the cost of a Mercer education rests with the student and his/her family. Eligibility for financial aid is based on Mercer University's Cost of Attendance minus the amount the Federal Government expects your family to contribute towards that cost. The formula for determining this contribution, as written into federal law, takes into account your family's income and assets. Financial aid administered by Mercer may only be used for educational purposes (e.g. tuition, room, board, books, supplies, etc.).
Most financial aid programs at Mercer are awarded on the basis of need, although some assistance is awarded in recognition of academic merit and achievement. Some aid is gift aid (grant and scholarship), some is in the form of Institutional Aid and Endowments, some you must earn (work-study), and some is in the form of long-term loans (you must repay) designed to extend the financing of your education beyond the years of enrollment. Our primary objective is to assist as many students as possible and to provide access to Mercer University for all qualified individuals.
To receive federal funds administered by the Office of Student Financial Planning, you must have a high school diploma (or equivalent), be enrolled as a regular student (e.g. not a special admit, transient or audit student) in a degree-granting program at least half-time (six hours), have a valid social security number, be a U.S. citizen or eligible non-citizen and be making satisfactory academic progress toward completion of your degree. You must not owe a refund on any federal grant and must not be in default on any student loan previously received. You must be registered with the Selective Service and the Immigration and Naturalization Service if required by law to do so. You must not have been rendered ineligible for federal aid as a result of a drug conviction. Suspected cases of fraud or abuse will be reported to the US Office of Inspector General.
Federal regulations require that we verify the accuracy of information provided. As a result, many applicants must submit federal tax returns and other requested documents. If you do not provide these materials in a timely manner, you will not receive financial aid.
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Our basic premise is that the primary responsibility for meeting costs at Mercer rests with the student and his/her family. To calculate each family's ability to pay, or family share of expenses, we use an established Federal formula that takes into account information reported by the family on the Free Application for Federal Student Aid (FAFSA).
The family share of expenses represents the best estimate of your family's capacity to afford, over time, the cost of education. It is not a prediction of how much cash you have on hand, or a value judgment about how much you should be able to contribute. It is not the amount you must pay directly to the University; but rather, the family's share of the total "Cost of Education" (Tuition, Room, Board, Books/Supplies, Transportation, and Miscellaneous Expenses) over one academic year.
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For financial aid purposes, students are considered either dependent or independent. For the
2012-2013 award year, you are considered independent for federal programs if you meet one of the following criteria:
- You were born before Jan. 1, 1989.
- You are a veteran of the US Armed Forces.
- You are an orphan or ward of the court.
- You have legal dependents other than a spouse.
- You will be a graduate or professional student for the
2012-2013 academic year.
- You are a married person.
Important Note: Independent applicants in certain professional programs must furnish parental information on the FAFSA and provide copies of parents' federal tax returns to be considered for grants and low-interest loans. Independent applicants in certain professional programs must furnish parental information on the FAFSA and provide copies of parents' federal tax returns to be considered for grants and low-interest loans.
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Eligibility for federal financial aid is based on the methodology written into law by the U. S. Congress to determine eligibility for need-based University awards. We also consider this information. The Mercer formula generally disallows depreciation, business, rental and capital losses as deductions from gross income, and does not include parental postsecondary expenses. We also review the values of reported assets for reasonableness and make adjustments as necessary.
Our primary objective is to assist as many students as possible by using a combination of available funds. If we receive the processed results of your completed application by our published priority deadline of April 1, you will be considered for all funds for which you are eligible. However, if you apply late, you will be awarded certain funds only if they remain available. An application is not complete until all required documentation is received by the Office of Student Financial Planning.
The final determination of eligibility and awarding rests with the University and is based upon uniform and consistent treatment of family circumstances.
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In the event of a substantial change in your family's circumstances (loss of parents' employment, death, etc.), you may write to the Office of Student Financial Planning to request another review of your file. You should describe all changes in detail, including specific dollar amounts. Any award adjustment made by the Office of Student Financial Planning will be contingent upon documentation of your eligibility and the availability of funds. Grant funds are not typically available for award revisions.
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Mercer’s Satisfactory Academic Progress standard is used to determine if an enrolled student is making satisfactory academic progress in his or her educational program, regardless of whether or not he or she is receiving Title IV aid. The SAP policy provides a consistent application of standards to all students, ensuring both the quality of academic work and the completion of a student’s program within the maximum time frame.
Mercer’s SAP Policy provides that a student’s academic performance will be evaluated at the end of each semester. The SAP policy will measure both…
· Qualitative – Cumulative GPA a student must achieve at each evaluation (see chart below)
· Quantitative – Pace of progression to ensure graduation within the maximum time frame
Qualitative Standard
The Qualitative standard is a graduated standard based on cumulative GPA. A student must meet the following grade point average (GPA) at each evaluation:
Total Hours Minimum
Earned Cumulative Grade Point
Average
0 – 16 1.4
17 – 32 1.7
33 – 48 1.8
49 - 63 1.9
64 – 128 2.0
A student with a cumulative GPA below those listed in the above table will be put on Financial Aid WARNING for the next term and must meet the cumulative GPA standard at the end of the Financial Aid Warning payment period.
Eligibility to Appeal – If you have mitigating circumstances (e.g. death of a relative, injury or Illness of student, or other special circumstance) that prevented you from meeting the 2.0 GPA requirement at the end of your second academic year, you may appeal to the Office of Student Financial Planning for a review of your circumstances as they relate to your academic standing. All appeals must be submitted, in writing, to the Office of Student Financial Planning within 10 calendar days of receiving the denial letter.
Quantitative Standard
There are two components to the Quantitative Standard:
- Maximum Time Frame allowed for program.
- Cumulative Completion Percentage. Both standards will be checked at the end of each payment period.
Maximum Time Frame – Student may receive aid for a maximum of 150% of the published length of the educational program. The measurement is cumulative, including all periods with or without Title IV assistance and all accepted transfer hours.
Maximum Time Frame at Mercer is defined in semester credit hours. For example, a degree program requiring 120 credit hours to complete will have the following Maximum Time Frame:
120 X 150% = 180 hours (Maximum Time Frame)
A student may NOT receive Title IV aid after attempting 150% of the Program Length. However, if a student feels there are mitigating circumstances that prevented him or her from completing the program within the 150% time frame, that student may review the appeal process included in this SAP policy and appeal in writing to the Financial Planning Office.
Completion Percentage for payment period: Students must earn at least 67% of all hours attempted (cumulatively for program) at the end of each semester. The Completion Percentage will be checked at the end of each payment period.
· Transfer hours – Accepted into a student’s program will count as both hours attempted and hours earned
· Withdrawals – Will count as hours attempted ONLY
· Incompletes – Will count as hours attempted, only until the course is completed. A passing grade will count as hours earned; a failing grade will remain as hours attempted only
· Repeat Courses:
o Repeat courses are counted for previously failed classes
o Repeat of previously passed courses are counted ONE TIME only
o Cannot count repeat of previously passed courses at all IF the repeat of the course is due to the failing of another course in a prior period
Quantitative Evaluation Points
If a student does NOT meet SAP standards at their first Quantitative evaluation point:
· Student will be automatically placed on Financial Aid Warning for ONE payment period
o No appeal is necessary by the student at this point in order to receive one Financial Aid Warning period
o Student must make SAP once Financial Aid Warning semester is completed
o If a student does NOT meet the SAP quantitative standard at the end of the Financial Aid Warning Period, the student is no longer eligible for Title IV aid. The student may submit an appeal in writing to be considered for Financial Aid probation.
Appeal Process
If a student loses Title IV eligibility and they feel they have mitigating circumstances (i.e. death of a relative, injury or illness to student, or other special circumstance) that prevented them from meeting SAP standards, they may provide a written appeal to the Office of Student Financial Planning. This appeal must be a complete summary of the student’s circumstances and must include all supporting documentation such as death certificate, referrals from Doctor, medical bills etc. The Financial Planning Appeals Committee will review the appeal and determine if the circumstances warrant a waiver of the loss of Title IV aid and an additional probationary period. When put on probation, the student is expected to meet SAP standards by the end of the probationary term, or meeting an academic plan designed to ensure student will meet SAP standards by a specific point in time. A student’s academic plan will be included in his or her appeal response.
If the appeal is not approved, the student will no longer be eligible for federal or state aid until the student meets SAP standards.
Financial Aid Probation
· Under Financial Aid Probation, a student may only receive Title IV funds for ONE semester only.
· A student may not receive Title IV funds for any subsequent payment period unless:
o Student is making SAP; or
o Financial Planning Committee determines student met the SAP requirement specified by the Committee. A student reinstated to eligibility under academic plan and making progress under the plan is considered to be eligible.
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Student Rights
You have the right to know:
- The cost of attendance
- The refund policy for students who withdraw
- What financial assistance is available from federal, state, and institutional sources
- Procedures and deadlines for submitting applications for financial aid
- How financial aid recipients are selected for verification
- How your eligibility was determined, including all resources the Office of Student Financial Planning considered available to you
- How and when funds will be disbursed to you
- An explanation of each type of award you receive
- For any student loan you receive: the interest rate, total amount you must repay, when your repayment begins, the length of your repayment period, and the cancellation or deferment provisions of your loan
- For any Federal Work-Study job: a description of the job, the hours you must work, the rate of pay, and how and when you will be paid
- The criteria used to determine satisfactory academic progress for financial aid purposes and how to appeal a decision
- How to appeal a decision by the Office of Student Financial Planning concerning your aid award.
Student Responsibilities
It is your responsibility to:
- Read directions thoroughly, complete all application forms accurately, and to comply with any deadlines
- Provide any supplemental information or documentation required by the Office of Student Financial Planning or other agency if requested to do so.
- Read, understand, and keep copies of any forms you are required to sign
- Repay any student loans you may receive
- Complete an entrance interview and an exit interview if you receive federal loans while in attendance at Mercer
- Notify the Office of Student Financial Planning of any change in your enrollment status or financial status (including any scholarships or grants received from outside sources). Changes of address and enrollment status must also be reported to your lender if you have a loan
- Satisfactorily perform the work agreed upon in a Federal Work-Study job
- Review and comply with all requirements for continuation of financial aid, including those related to satisfactory academic progress.
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