by our College Data Analytics TeamMost students won’t pay the advertised price of a school. Instead, they will be provided with a financial aid plan that includes a mix of scholarships, grants, loans, and work-study. But some kinds of aid are more desirable than others, and some students will get more than others.
Interested in understanding the financial aid resources available at Mount Mercy and your eligibility? Find the answers you seek below.
$23,054.00 is the typical Mount Mercy University’s first year financial aid package. 100% of reshman students get financial aid, most of which is in the form of grants and scholarships
Loans are included in the umbrella of ‘financial aid’, even so, the only true discount from the cost of college is a grant or scholarship that you don’t have to pay back.
A college loan is not a true college discount, but rather an outcome to consider. Find out how much student loan debt from Mount Mercy University you may end up taking on.
Financial awards given by a college or university to its students, known as institutional scholarships and grants, help to offset the cost of tuition and other education-related expenses. These awards fall into two categories: merit-based and need-based, and they do not need to be paid back. Merit-based institutional scholarships are granted to students who have shown outstanding academic accomplishments, special talents, or abilities in a particular field. Factors such as high school performance, standardized test results, or involvement in extracurricular activities often contribute to these scholarship decisions. Conversely, need-based institutional grants cater to students who demonstrate financial need. The awarded amount is typically based on the student’s family’s financial standing and is intended to cover the difference between the cost of attendance and the family’s ability to contribute. Colleges and universities might use data from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms to determine a student’s eligibility for need-based grants. Institutional scholarships and grants are a vital source of financial support for students, as they can significantly reduce the cost of attending college and help make higher education more accessible.
The numbers listed below make reference to help that is offered by Mount Mercy University.
100% of new students (217 total) were given scholarships at Mount Mercy University, averaging $18,324.00 per student. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 40% of freshmen (86 total) received a federal grant, for about $4,866.00 a person.
The following table displays scholarship and grant allocations by family income for freshman students receiving any kind of federal Title IV assistance, such as Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 16.13% | $28,939.00 |
| Income 30k-48k | 13.82% | $30,805.00 |
| Income 48k-75k | 16.13% | $26,926.00 |
| Income 75k-110k | 17.51% | $22,629.00 |
| Income 110k + | 23.04% | $21,174.00 |
The table above shows undergrads who are getting Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more here.
100% of the 217 undergraduates at Mount Mercy University receive some sort of grant aid. This is a total of about 217 students getting an average of $23,054.00 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.