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Tuition and Financial Aid

UNDERGRADUATE TUITION RATES
$320.00 per credit hour

TUITION PAYMENT OPTIONS:

Tuition Reimbursement: 

    - Your employer may have a tuition reimbursement program already in effect. Check with your company's human resources office for details.

Credit Card payment:

    - You may pay for tuition by credit card (MasterCard, Visa or Discover).

Check or cash: 

    - You can pay for tuition in full prior to the start of classes. Please bring payment to registration.

Deferred payment: 

    - Under deferred payment, you pay tuition in installments, with full payment due by the end of classes. Twenty percent of tuition is due at registration and there is a one percent charge on the unpaid balance each month. 

FINANCIAL AID GUIDE FOR ADULT STUDENTS

If you are interested in obtaining Financial Aid while pursuing your degree from Misericordia University, the following information will be of great importance to you.

APPLYING FOR FINANCIAL AID

CATEGORIES OF FINANCIAL AID

APPLICATION OF FINANCIAL AID TO ACCOUNT 

APPLYING FOR FINANCIAL AID

To apply for all types of financial aid, students must complete the Free Application For Federal Student Aid (FAFSA). The application is available in online at www.fafsa.ed.gov. To receive financial aid, including student loans, the following general requirements must be met. 

  • Student must be a U.S. citizen or eligible noncitizen.
  • Be formally admitted to Misericordia University. (For information on admission to the college, please reference the Adult Education Resource Guide).
  • Be registered for at least 6 credits per semester for student loans.

After completing the FAFSA, your information will be electronically transmitted to our Financial Aid Office. This will happen approximately 3 to 4 weeks after you mailed the information. At that time, you will receive an outcome document called the Student Aid Report (SAR). You will be instructed to read through the information and make any necessary corrections. If no corrections are required, you do not need to return the SAR.

The SAR will also serve to inform you of Federal Pell grant eligibility and notify you if you are selected for Federal Verification. If selected for verification, you will need to provide our financial aid office with photocopies of federal tax returns, W-2 forms and a verification worksheet. The Financial Aid Director will request this information prior to processing your student loans or crediting grants to your account. Federal regulations prohibit the crediting of financial aid to your account until this process has been completed. 

If you are transferring into Misericordia University and have already filed a FAFSA for the current year, you may call 1-800-4-FEDAID and add the college to your record. Our Title IV School Code is 003247. We can access your financial aid application in about 3 to 5 days. 

By completing the FAFSA, you have also applied to your state of residence for grant assistance. Please note the State Grant Deadlines on the FAFSA. Applications submitted after the deadlines may not be considered. Pennsylvania’s State Grant Program is administered by PHEAA (Pennsylvania Higher Education Assistance Agency). The deadline for consideration of Pennsylvania State Grant Assistance is May 1 preceding the academic year in question, i.e. May 1, 2005 for the 2005-06 academic year. After completing the FAFSA, you will receive a document from AES/PHEAA called a status notice. You will be instructed to complete certain items and return it to the address listed. 

If you are interested in Stafford Student Loans, you need to sign a Master Promissory Note
Complete Your   Online Stafford MPN Complete YourOnline Stafford MPN

In addition, you will need to complete a loan request form. Please contact Financial Aid at 570-674-6280 and request that a loan request form be mailed, faxed or emailed to you. The loan request form is used to communicate to our office the amount of funds you choose to borrow.

Once you have submitted all necessary information, your loan can be processed . You will be notified by mail when the college has certified your loan. The disclosure statement will alos contain the amount of loan money that has been approved and the disbursment dates. Student loan money can be used to cover tuition, fees, housing costs, books and supplies, in general any legitimate educational expense. If the amount of loan money received by the college is more than your tuition and fees the credit balance will be refunded to you. You may use student loan money to purchase a computer. However, Federal Regulations prohibit the use of student loan money to purchase a car or luxury items. 

Please be advised that the FAFSA is renewable annually. You will need to file after January 1 of each year. Since the information reported on the FAFSA is always based on prior year income, you should notify the Financial Aid Office in writing of any special conditions such as recent separation/divorce, income reduction, medical/dental expenses not covered by insurance. Upon review, you will be notified in writing of any adjustments to your financial aid. 

Please be aware that your financial aid may need to be adjusted after your initial award based on certain changes. Changes in your course registration (ie:dropping./adding classes) withdrawing from class, housing status and changes resulting from federal verification most commonly result in grant increases/reductions and shifts from subsidized to unsubsidized Stafford loans. It is recommended you contact the financial aid office directly before you alter your course registration. 

CATEGORIES OF FINANCIAL AID

Federal Pell Grant

Students who are financially eligible and have not completed a bachelors degree must be enrolled for a minimum of 3 credits in order to receive Federal Pell Grant Assistance. The award amount is variable depending on the student’s financial need and number of credits in a given semester. Pell grants are normally available during the fall and spring semesters. Some students may qualify for summer pell grants.

(Graduate students and 2nd Bachelor degree students are not eligible for Pell Grants.)

State Grant Assistance

Generally, students who are financially eligible and have not completed a bachelor’s degree must be enrolled for a minimum of six credits to be eligible. The state grant program limits full-time students to 8 semesters of eligibility and part-time students to 16 semesters of eligibility. 

For students enrolled in Misericordia University’s Expressway program, continuous enrollment in each of the three 5 week sessions( 9 credits total or each of the two 7 week sessions (6 credits total) per semester is required. The school is required to report lower tuition costs to the State Grant division. Therefore, students in the Expressway program may have their original state grant award adjusted downward after these costs have been reported. State grant award amounts are determined by AES/PHEAA and are subject to adjustments based on changes in course registration. 

Stafford Student Loans

Students must enroll for a minimum of 6 credits to qualify for Stafford loan assistance. Students must be matriculated at Misericordia University. Stafford loans are available to both undergraduate and graduate students. Students who have completed one bachelor’s degree and are enrolled for a second bachelor’s degree may also apply for Stafford loan assistance. 

Subsidized Stafford loan amounts are based on grade level, dependency status and financial need. Qualifying students will not have to pay interest on subsidized loans while enrolled. 

Unsubsidized Stafford loan amounts are available to otherwise eligible students who do not qualify for interest subsidy. Students have the option to pay the interest while enrolled or to have it capitalized. 

The student will enter re-payment 6 months after separating from school (ie: graduating or withdrawing) or enrolling for less than 6 credits. Upon entering repayment the student pays both interest and principal. 

Students who are currently repaying prior student loans may apply to their lender for an in-school deferment. Please contact your lender for necessary paperwork. In-school deferment forms should be submitted to the college Registrar for verification of enrollment. 

The U.S. Department of Education under the Higher Education Act has determined the maximum allowable loan amounts for borrowers as follows:

Dependent Undergraduate Students:

  • $2,625.00 First year students ( 0-29 credits)
  • $3,500.00 Second year students (30 to 59 credits)
  • $5,500.00 Third , Fourth and Fifth year students (60 + credits)

Independent Undergraduate Students / Dependent Undergraduate Students whose Parents have been denied PLUS Loans:

  • $2,625.00 (Subsidized) + $4,000.00 (Unsubsidized) = $6,625.00 First year students (0-29 credits)
  • $3,500.00 (Subsidized) + $4,000.00 (Unsubsidized) = $7,500.00 Second year students (30 to 59 credits)
  • $5,500.00 (Subsidized) + $ 5,000.00 (Unsubsidized) = $10,500.00 Third, Fourth and Fifth year students (60+ credits) 

The aggregate loan limit for undergraduate students is $46,000.00 with no more than $23,000.00 eligible for interest subsidy. 

Graduate Students:

  • $8,500.00 (subsidized) + $10,000.00 (Unsubsidized) = $18,500.00 Students who have completed the requirements for a Bachelor’s degree and who are currently registered for at least 51% of coursework at the 500-600 level.

All new student loan borrowers are required to complete Entrance Counseling before loans can be applied to your account. Entrance counseling can be completed on-line at www.pheaa.org. The information will be directly transmitted to the college via e-mail. If you prefer a paper copy, the Entrance Counseling material can be mailed to you by contacting the Financial Aid Office at (570) 674-6280.

Misericoridia University Alumni Discount:

Misericordia University Alumni receive the following discounts (To assure proper and timely crediting of your account, please inform the Adult Education Office of your alumni status at the time of course registration):

  • Undergraduate/2nd Bachelor’s degree: 1/3 off the per credit undergraduate tuition rate up to 11 credits per semester.
  • Graduate degree: 1/3 off the per credit graduate tuition rate up to 6 credits per semester.

Outside Scholarships

You may be interested in researching outside scholarship opportunities through the Internet. A good source may be accessed through www.finaid.org. This site contains general information on higher education and various scholarship searches. 

Choosing A Lender

If you already have student loans and they have not been repaid, you must use the same lender, even if you have been out of school for awhile.

Preferred lenders are banks and lending institutions that have a history of providing excellent service to our students. The preferred lenders listed here are participants in the Keystone Best loan program. They offer a 1% origination fee (other lenders offer at least 2%) and interest rate reduction benefits during repayment. 

EdAmerica
Lender code: 831453
M&T Bank
Lender code: 809478
College Loan Corporation
Lender code: 833733
PNC Bank
Lender code: 809921
 

All Master Promissory Notes for the above lenders should be mailed directly to:

PO Box 8177
Harrisburg, PA 17105
 
Application of Financial Aid to your Account

The Student Accounts Office maintains your tuition account and generates all credit balance refunds.

That office will issue you a monthly statement detailing all account activity. Most student loans are electronically transferred to the College. The lenders generally deduct 1 to 3% from the loan amount requested. Loan money is applied directly to the student’s account. The end of month statement will show the application of the loan money when it arrives. 

Certain regulations govern the disbursement of student loans. Different disbursement schedules must be utilized in non-standard length courses and summer session courses. Misericordia University Expressway student loans are not disbursed and applied to the account until approximately the 14th week of the semester. Students enrolled in Term A/Term B accelerated formats, will also experience delayed loan disbursements. Those loans are not disbursed until at least the mid-point of the Term B course. 

Federal Pell grants and State Grants will be applied directly to your account. Again, they will be visible on the end of month statement issued by the Student Accounts Office. As with student loans, those enrolled in Expressway and other non-traditional class formats will not see the grant(s) credited to the tuition account until much later in the semester. 

Please note that delays in account reconciliation due to Financial Aid regulations are not subject to the college’s one (1) percent finance charge on unpaid balances. Any interest charged to the account will be removed when the financial aid is credited. 

If you have any questions about financial aid, please contact us at (570) 674-6280 or e-mail finaid@misericordia.edu. We will be happy to assist you.