General Award Policies
1. All federal and state awards are subject to government funding.
2. If your FAFSA is selected for verification, you will be required to complete a verification worksheet and provide the requested documentation, which may include federal tax transcripts and W2s.
3. If a student withdraws from any course or courses after the drop/add period or otherwise decreases his/her course load, withdraws from the College or changes housing status, the package may be adjusted.
4. As noted on the Financial Aid award letter, one half of the institution and government aid is credited to your account each semester. Please be advised that work study is not deducted from your tuition.
5. Financial Aid, including merit and need-based grants, can be used for study abroad costs approved by and administered through Merrimack.
6. In order to receive federal and state aid, students must maintain satisfactory academic progress as defined in the Merrimack College catalog.
7. Merrimack scholarships and grants are awarded for full-time undergraduate enrollment. Awards are renewed for four years or eight semesters providing the recipient is enrolled full-time and maintains good academic standing as defined in the Merrimack College catalog.
8. Receipt of outside scholarships may affect the aid package. Outside awards are first used to meet financial need not already met by the aid package. If a student’s financial need is met, the outside scholarship may affect his/her eligibility for a subsidized loan. Students are required to report outside scholarships to the Office of Financial Aid, even if funding is not disbursed to the College.
9. Students must enroll at least half-time to retain eligibility for federal loans. Undergraduate half-time status is classified as 8 or more credit hours. Graduate half-time status is classified as 4 or more credit hours.
10. Students who are enrolled in a Merrimack sponsored Study Abroad program are considered enrolled full-time for the purpose of Title IV federal aid, state aid, and institutional aid.
11. Merrimack College reserves the right to correct any errors in notification of awards.