| 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 the 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 2008-2009 award year, you are considered independent for federal programs if you meet one of the following criteria:
- You were born before Jan. 1, 1985.
- 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 2008-2009 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 circumstances (loss of 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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Federal regulations and Mercer University policies require that financial aid recipients make satisfactory academic progress. This means that you must proceed toward successful and timely completion of your degree requirements. The programs affected by the satisfactory academic progress requirements include all Federal and State programs. If you receive funds from any of these programs, you must demonstrate and maintain satisfactory academic progress or you will face financial aid probation, denial of aid from these sources, or both. If you receive scholarships that are based on merit, you must also comply with any distinct academic requirements associated with the scholarship (s).
Appeal for Satisfactory Academic Progress Policy
If you are denied aid under the satisfactory progress policy, you have the right to appeal the decision. Your appeal must be submitted in writing to the Office of Student Financial Planning. You will be notified of the decision regarding the appeal and minimum requirements to continue receiving aid.
Go here to review the current Mercer University catalog for specific requirements related to Satisfactory Academic Progress.
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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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