Financial Aid Policies
Merrimack College is committed to assisting students in achieving their educational goals.
It is a fundamental principle of financial aid that students’ first resource must be their own earning capacity, followed by the income and assets of their immediate family.
While Merrimack subscribes to this philosophy that the primary responsibility of meeting college costs rests with the family, we also realize that under present economic conditions there are families that do not have the means to send their children to a private college. In recognition of this fact, Merrimack College makes every attempt to bridge the gap that may exist between family resources and college expenses.
- Merrimack’s institutional funding is awarded based on academic performance and demonstrated financial need.
- Both early-action and regular admits will be considered for institutional scholarships based on their high school GPA. The FAFSA is used for institutional need-based grants as well as federal funds.
- Every student who completes the FAFSA is offered self-help assistance in the form of a federal student loan and, possibly, work-study (federal need-based or college employment.)
Merrimack attempts to meet a student’s financial need with institutional funds first, followed by federal resources. Institutional funds are limited; therefore, it is not always possible to meet 100 percent of every student’s need. Priority is given to students who have financial need and outstanding academic records.
Incoming students are awarded federal and/or state grants based on the information they provide on the FAFSA. If a FAFSA is selected for verification, the awards are conditional, subject to complete verification of the financial-aid information.
Applicants will be notified of the information they need to submit in order to complete this process. If the information originally provided is changed, the original award may be adjusted, and a revised financial-aid notification will be sent.
To continue to receive federal or state aid, students must make satisfactory academic progress toward their degree. For complete details, please refer to the online SAP policy.