by our College Data Analytics TeamThe majority of college students don’t pay the full price for their education, as financial aid packages, including scholarships, grants, loans, and work-study opportunities, help to offset the costs.
The amount of financial assistance and scholarships or grants you can get varies based on your circumstances. Keep reading to learn more to help you to know just how much aid and scholarships to expect from Mercy College.
Mercy College of Ohio average financial aid offer for freshmen students is $8,743.00. Approximately 97% of incoming freshmen obtain financial assistance, with the majority being offered as grants and scholarships.
A financial aid package includes loans, grants, and scholarships. However, student loans have to be paid back, so they aren’t a true discount.
A loan is not a legitimate college discount, but rather an outcome to consider. See how much student loan debt from Mercy College of Ohio you may end up taking on.
Institutional scholarships and grants are financial aid awards given by colleges and universities to help students manage tuition costs and other education-related expenses. These awards, which do not need to be repaid, can be classified as merit-based or need-based. Students who excel academically, possess unique talents, or have specific skills can be eligible for merit-based institutional scholarships. Factors such as high school performance, standardized test scores, or participation in extracurricular activities often contribute to eligibility for these scholarships. Need-based institutional grants, on the other hand, are awarded to students who demonstrate financial need. The amount given is generally based on the student’s family’s financial situation, aiming to cover the gap between the cost of attendance and the family’s capacity to pay. To assess a student’s eligibility for need-based grants, colleges and universities may rely on information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants are essential for students, as they can substantially lower college expenses and make higher education more affordable.
The next numbers refer to grants and scholarships mainly supplied by the college itself.
68% of incoming freshmen (21 total) were given scholarships at Mercy College of Ohio, averaging $6,799.00 per student. This puts it in the top 50th percentile among colleges and universities nationwide.
As well as scholarships, 39% of first-year students (12 total) got a federal grant, for about $5,740.00 per person.
The table below shows grant and scholarship distributions by income for first-year students getting any sort of federally-funded Title IV aid, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 32.26% | $6,089.00 |
| Income 30k-48k | 3.23% | $3,845.00 |
| Income 48k-75k | 3.23% | $4,145.00 |
| Income 75k-110k | 0.00% | $0.00 |
| Income 110k + | 0.00% | $0.00 |
The table above displays undergrads who are getting Title IV aid, federal aid from the government including loans, grants or work-study. Learn more here.
97% of the 31 undergraduates at Mercy College of Ohio receive some sort of grant aid. This is a total of about 26 students getting an average of $8,743.00 per person.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.