Merrimack College is committed to supporting you and your family through the very important financial aid process.
Below, we have gathered various resources from our financial aid team. Look around—we hope you find these resources and FAQs helpful.
Are you a current Merrimack student? Visit our financial aid page for current students.
Understand the basics of the financial aid process. This is a great spot to start!
Ready to dive in? Here are some tips for applying for financial aid.
Learn more about grants, work-study, loans and scholarships.
Explore your financial aid offer and what you need to do now.
We'll break down the lingo with our glossary of financial aid terms.
Can't find an answer to your financial aid question? Let's talk!
There are two types of supplemental loans that families can pursue:
Students and parents may apply for supplemental loans up to their cost of attendance, less their financial aid package.
Yes! Merit scholarships are renewable for four years of undergraduate coursework, as long as you maintain satisfactory academic progress. In the rare event that you do not maintain good academic standing, the scholarship may switch to a grant which means you will NOT lose funding. Please keep in mind that changes in housing may impact your total institutional aid, and funding may be prorated, including merit awards.
Your merit scholarship automatically renews as long as you remain a full time student, maintain good academic standing, and your cost of attendance/housing status does not change. Grants are associated with your FAFSA, so don’t forget to refile the FAFSA each year to maintain that aid. Grants are based on financial information on your FAFSA, so if that information changes it can affect your grant.
Financial aid is money that you can use to help pay for college expenses. Financial aid comes from a variety of sources, including the federal and/or state governments. It can be in the form of grants or loans. You will automatically be considered for all types of financial aid once you have completed the financial aid application process. Undergraduate students must enroll at least half-time (six credits per semester) to be eligible for most aid programs. Graduate students are eligible for up to $20,500 in direct unsubsidized loans per academic year, provided they enroll at least half-time (four credits per semester).
The Free Application for Federal Student Aid (FAFSA) is the official form that you use to apply for financial assistance to help pay for college. The FAFSA asks a series of questions about income, assets and other factors, which is then shared with the colleges you’re applying to. The information you supply on the FAFSA determines what type(s) of aid you may qualify for. It may be completed online at studentaid.gov.
At Merrimack, some special populations are required to submit a FAFSA. The majority of students do not need to submit a FAFSA unless they wish to be considered for need-based aid.
The FAFSA determines your eligibility for subsidized federal student loans (which are based on need), unsubsidized federal student loans (which most students qualify for regardless of need), federal grant programs, work-study programs, state-based financial aid, school-based financial aid, scholarships and other aid.
REMEMBER: The FAFSA is not a loan! There is no financial commitment when you file the FAFSA. You’re simply providing colleges with more information to help calculate all the different financial aid options you qualify for such as scholarships, grants, loans, work-study and more. That means your potential aid can come from many different sources so you should still file the FAFSA even if you don’t plan on taking out any loans.
Before you begin your FAFSA, you will need to create a Federal Student Aid (FSA) ID for yourself and for any FAFSA contributor (like a parent or spouse). It’s important that the FSA IDs are registered with different email addresses as this is your official electronic signature for the FAFSA and other important federal documents, such as Loan Entrance/Exit Counseling and Loan Master Promissory Notes. To create a Federal Student Aid ID, go to studentaid.gov. We encourage you to take advantage of the helpful resources on studentaid.gov website, including how to fill out the FAFSA form.
Comprehensive fees help the College to provide students with a variety of services which enhance their academic and student life experiences. Fees help cover services such as:
The Board of Trustees at Merrimack College determines the final costs in their annual meeting each Summer. Once those costs are finalized, we will publish the updated information on our website.
Initial financial aid correspondence will be mailed to the address you have on file with Merrimack. Important financial aid information is also sent to Merrimack student email accounts, so it is important that you check your email frequently. For returning students, all correspondence is sent electronically to your student email account.
Merrimack requires FAFSA submission for new Fall 2025 Tuition Exchange Scholarship recipients. Please complete this submission process by August 1.
Nope—it’s totally free! That’s why it’s called the “Free Application for Federal Student Aid” (or FAFSA for short).
Once you have received your completed financial aid package, if there have been changes to your financial circumstances, you may reach out to either the Office of Undergraduate Admission or the Office of Financial Aid for additional information.
Transfer students are considered for both need-based and merit-based funds. As stated above, to apply for need-based consideration, including federal and state grants, loans and work programs, applicants must file the FAFSA, available online at studentaid.gov.
Each student has their own dedicated financial aid counselor. You can find your financial aid counselor in your applicant portal under the financial aid tab. And always feel free to email [email protected] with any general questions!
You must file the Free Application for Federal Student Aid (FAFSA) electronically at www.studentaid.gov. Merrimack College’s Federal School Code is 002120. Students are encouraged to apply as early as possible, prior to the start of the upcoming semester. In order to be considered for Massachusetts state programs, the filing deadline is May 1.
Merrimack’s federal school code is 002120.
The FAFSA allows up to 20 school codes at one time, but you can also add more later once your FAFSA has been initially processed. Be sure to add Merrimack’s code (002120) to your list so that we can receive your information!
Students admitted for Spring 2025 can file the 2024-2025 FAFSA anytime until June 30th, 2025. If you are planning to enter Merrimack in Fall 2025, you should file the 2025-2026 FAFSA by our priority deadline of May 1, 2025.
After your FAFSA has been successfully processed, you will be able to log back into studentaid.gov to make your updates. Depending on the information you are trying to change, some changes to federal tax information may not be available to you. In most cases, you will need to wait until your FAFSA has been fully processed and sent to your schools before you can log in and make any changes.
The process for transfer students is the same as first-time incoming students. Merit awards are offered at the time of admission, and if students wish to be considered for need-based aid, they must submit a FAFSA online at studentaid.gov.
Once you receive your bill for Fall, you may begin to apply for supplemental loans. To avoid issues related to changes in credit, and for ease of processing, families are encouraged to apply for one loan for the entire academic year.
Students should apply for financial aid when they are applying for admission to the College. Families are encouraged to submit their FAFSA prior to their state’s deadline for state aid consideration. In Massachusetts, this deadline is May 1.
A grant is a type of financial aid that does not need to be paid back. It is awarded based on financial need and students typically have to file the FAFSA to be considered for need-based grants.
A merit scholarship is a type of financial aid that does not need to be paid back. Unlike need-based grants, these are awarded based on things like academic achievements, personal accomplishments, athletic or musical talents and more! Merit-based scholarships are based on a holistic review of a student’s admission record. Notification of scholarship awards are included with acceptance materials.
An outside scholarship is simply a scholarship that comes from outside the school or the government. A student must initiate applications for outside scholarships.
There are many resources available for additional outside scholarships. Touching base with your school counselor is a great way to see what your school and community may offer. Local rotary clubs, religious institutions, and parent employers may also have scholarship opportunities.
We do provide a list of some scholarships, as well as recommendations for scholarship databases on our website here: www.merrimack.edu/aid/types/outside-scholarships/
Need-based grants, loans and work programs are available from the federal and state government and Merrimack’s own sources. To apply, students must complete the FAFSA, available at studentaid.gov.
With a Direct Subsidized Loan, the government pays the interest while the student is enrolled in school at least half-time. With a Direct Unsubsidized Loan, the interest is the responsibility of the borrower, and interest accrues while the student is in school. Payment is not required for either type of loan until six months after the student graduates, withdraws, or drops below half-time.
Yes, filing the FAFSA is required each year you are in school so it’s possible need-based aid could change.
Yes! Merit scholarships are renewable for four years of undergraduate coursework, as long as you maintain satisfactory academic progress. In the rare event that you do not maintain good academic standing, the scholarship may switch to a grant which means you will NOT lose funding. Please keep in mind that changes in housing may impact your total institutional aid, and funding may be prorated, including merit awards.
Your merit scholarship automatically renews as long as you remain a full time student, maintain good academic standing, and your cost of attendance/housing status does not change. Grants are associated with your FAFSA, so don’t forget to refile the FAFSA each year to maintain that aid. Grants are based on financial information on your FAFSA, so if that information changes it can affect your grant.
Your total financial aid package, including merit scholarship, may be subject to change from year to year based upon enrollment status, academic standing, housing status and/or demonstrated financial need. The FAFSA must be submitted annually to continue to be eligible for institutional, federal or state need-based aid.
There are two types of supplemental loans that families can pursue: Federal Direct Parent PLUS loans (apply at studentaid.gov) and student loans from a private lender (examples at elmselect.com). Students and parents may apply for supplemental loans up to their cost of attendance, less their financial aid package.
At Merrimack, we assume students will accept all aid offered to them, unless we are otherwise notified. If you would like to decline any portion of your aid package, simply let us know in writing, and we will make these updates on your behalf. If you are intending to utilize your Federal Direct Loans, you will need to complete the required Master Promissory Note (MPN) and Federal Loan Entrance Counseling requirement online at studentaid.gov in order for your loans to be processed.
In addition to merit awards, Merrimack offers need-based funding to students with financial need as demonstrated by the FAFSA. In order to be considered for need-based aid, you would need to submit a FAFSA online at www.studentaid.gov.
There are two types of supplemental loans that families can pursue: Federal Direct Parent PLUS loans (apply at studentaid.gov) and student loans from a private lender (examples at elmselect.com). Students and parents may apply for supplemental loans up to their cost of attendance, less their financial aid package.
If a student switches from resident to commuter it may result in a reduction of institutional aid. The cost of attendance changes when residency changes, which therefore affects the formula we use to determine financial aid eligibility.
Merrimack has two types of work programs:
Yes! We offer interest-free payment plans spread out over 4, 5 or 6 months. The deadline to enroll is June 15 (for 6 month), July 15 (for 5 month) or August 15 (for 4 months). The fee to enroll in these plans is $55 per semester.
Students will receive email notification over the summer that instructs them on the steps to either enroll in or opt out of the health insurance plan. If opting out, a waiver is required along with proof of comprehensive health insurance coverage through an outside provider. If you do not actively waive coverage, you will be automatically enrolled.
The Department of Education reviews FAFSA applications and selects certain applicants to complete federal verification. In this process, the school collects additional information required by the federal government. The Office of Financial Aid will notify you of any additional request documents needed to complete the verifiation process.
Yes. Students must meet Satisfactory Academic Progress standards in order to be eligible for federal financial aid. Satisfactory academic progress requires a cumulative GPA of 1.6 or better by the end of your first academic year and a 2.0 or better by the end of your second academic year. Students must successfully earn 67 percent of their cumulative attempted credits.
Bills for Fall are generated in early Summer. Families are encouraged to finalize their plan for payment (loans, payment plan, etc.) shortly thereafter.
Changing your housing status will change your cost of attendance, which may impact your financial aid. Your financial aid counselor can help map out your various scenarios. Find your financial aid counselor in your applicant portal, under the financial aid tab.
Enrollment, residency and housing statuses are reviewed after the add/drop period of each semester. If there is a change to your enrollment or housing situation, your financial aid may be adjusted and a new award notification mailed. In order to be considered half-time, undergraduates must enroll in a minimum of six credit hours per semester. Graduate students must enroll in a minimum of four credit hours per semester.
If there is a drastic change in your financial situation, e.g., loss of employment, you may be eligible to have your financial aid reevaluated. Contact the Office of Financial Aid if you think you have a special financial circumstance.
Students receiving Federal Direct Loans for the first time must complete an online Entrance Counseling session and sign a Master Promissory Note (MPN). Log on to studentaid.gov using your FSA ID and password to complete this process. In addition, there is a Title IV Credit Authorization form, which is available online, through your MyMack account.
Yes! Your deposit holds your spot in the class and gets applied to your first semester bill.
All financial aid is disbursed directly to your student account at Merrimack to pay for tuition, fees and any other allowable charges. If the amount of financial aid and other credits on the bill exceed tuition, fees and other allowable charges, you may receive a refund to be used for off-campus living expenses or any other education-related expenses for the term. All refund requests are initiated directly with the Warrior One Stop, once the funding has posted to your account. Refund checks are mailed or picked up depending upon the arrangement made at the time of the request.
Financial aid is disbursed after the add/drop period of each semester.
Once your financial aid is no longer in “pending” status on your student account, and if/when you have a credit balance, you can request a refund. Additional details regarding the process can be found under the FAQ “What is the refund policy/process”, located here: https://www.merrimack.edu/bursar/billing-faqs/
* The Financial Aid Office is closed on Fridays during the summer.
Raquel Perez ’20, M’23 overcame a lifelong speech impediment and a catastrophic gas explosion to earn both a bachelor's and master’s degree from Merrimack College.
