Financial Aid

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  • Whether it’s winter, spring, or anything in between, Merrimack’s beautiful campus is enjoyed by all.
    Whether it’s winter, spring, or anything in between, Merrimack’s beautiful campus is enjoyed by all.
  • Students are often seen studying in the McQuade Library, a favorite spot on campus.
    Students are often seen studying in the McQuade Library, a favorite spot on campus.
  • The resident dining hall, Sparky’s Place, offers a variety of nutritious meals for students and faculty.
    The resident dining hall, Sparky’s Place, offers a variety of nutritious meals for students and faculty.
  • Mendel Center and the Moseley Wrought Iron Arch Bridge.
    Mendel Center and the Moseley Wrought Iron Arch Bridge.
  • The Collegiate Church of Christ the Teacher is the spiritual center of the Merrimack College community.
    The Collegiate Church of Christ the Teacher is the spiritual center of the Merrimack College community.
  • Aerial shot of the Academic Quad.
    Aerial shot of the Academic Quad.
  • The Gladys Sakowich Campus Center, the heart of campus activities.
    The Gladys Sakowich Campus Center, the heart of campus activities.
  • 435&#160;students participate in Merrimack’s varsity sports programs each year- from hockey to lacrosse to <a href="http://www.merrimackathletics.com/sports/clubsports/Rugby/index">rugby</a>.
    435 students participate in Merrimack’s varsity sports programs each year- from hockey to lacrosse to rugby.

Types of Aid

Students who attend Merrimack College may qualify for Federal Pell Grants, Supplemental Educational Opportunity Grants (SEOG), Perkins Loans, Work-Study, and the Federal Direct Loan Program for Parent (PLUS) Loans and Student Stafford Loans.

Be sure to file the Free Application for Federal Student Aid at www.fafsa.gov. If you have questions about filing the FAFSA, please contact the Office of Financial Aid at 978-837-5186. To view a FAFSA tutorial, check out this link.

State

State-funded grants are available from the Commonwealth of Massachusetts and from other states that have reciprocal agreements. Applicants for Massachusetts State Grants must have been permanent residents of the state for at least two years. The processing deadline for the Mass. State grant for 2012-2013 FAFSA is April 30, 2012.

Educational Loans

Perkins Loan

Federal Perkins Loans are funded by Merrimack College and the federal government. Interest rates are set at 5% with repayment deferred until nine months after graduation. There is no loan application but students will sign a promissory note provided by the college.

William D. Ford Federal Direct Loan Program

Merrimack College participates in the William D. Ford Federal Direct Loan Program.

Please refer to the News About Loans page for further information.

Federal Direct Parent (PLUS) Loans

Parents may apply for the parent PLUS loan at www.studentloans.gov web site for an educational loan to cover the student’s billing. The recommended deadline for filing a PLUS (parent) loan is at least 30 days prior to enrollment. Parents must enter their social security number, date of birth and FAFSA PIN when applying for the parent PLUS loan. Our loan officer will certify all approved loans with a valid master promissory note. Once the loan is certified, students may view their financial aid or billing statement on myMack. Parents may apply for up to their students cost of attendance minus any aid the student is receiving.

2011-2012 Fixed Interest Rates for Federal Direct Parent PLUS loan are as follows:

Direct PLUS loan = 7.9% with a 4% fee (some borrowers may qualify for a 1.5% rebate)

Federal Direct Student Loans

Students must complete entrance counseling and electronically sign the master promissory note (MPN) at www.studentloans.gov
Student loan borrowers must accept the stafford loan(s) (Direct Subsidized; Direct Unsubsidized) before Merrimack College can initiate the loan.

2011-2012 Fixed Interest Rates for Federal Direct Subsidized and Federal Direct Unsubsidized loans are as follows:

Direct Subsidized Loan = 3.4% with a 0.5% fee

Direct Unsubsidized Loan = 6.8% with a 0.5% fee

Annual Student Loan Limits

Year Base Limit Additional
Freshman $3,500 $2,000
Sophomore $4,500 $2,000
Junior $5,500 $2,000
Senior & 5th Year $5,500 $2,000

Note: Returning student financial aid award letters will be mailed by the end of June.

Student/Parent Alternative Loan information can be found on this link.

School For Advanced Studies Financial Aid

Please read the brochure linked below for information regarding financial aid opportunities for students enrolled in the School for Advanced Studies.

A new School for Advanced Studies - Financial Aid brochure for 2011-2012 will be coming soon.

Students looking for financial assistance may apply via the Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov. Please be sure to add the Merrimack College Federal School Code 002120. Once you have filed the FAFSA, contact the Office of Financial Aid at 978-837-5186 to indicate that you are a recent FAFSA filer and an accepted degree-seeking candidate through the School for Advanced Studies or enrolled in one of the Master of Education Programs.

An email will be sent to students who have contacted our office and informed us of their FAFSA filing indicating their eligibility for the student Stafford loan. New and first-time borrowers at Merrimack College will first need to accept the Stafford loan(s) (Subsidized/Unsubsidized), complete entrance counseling and electronically sign the Master Promissory Note before we can initiate the loan.

Graduate Student Loan Limits

  • $8,500 Subsidized Loan
  • $12,000 Unsubsidized Loan
  • Total $20,500 for the academic year

For Additional Information

The Office of Financial Aid is located on the campus of Merrimack College in Room 15B of Austin Hall. Our business hours are Monday - Friday 8:30 am to 4:30 pm. During the summer we are closed on Fridays.  We can be reached by telephone at (978) 837-5186, by fax at (978) 837-5067 or e-mail the Office of Financial Aid at financialaid@merrimack.edu