Addressing Financial Hardships
Merrimack College is committed to working with students and families to provide additional financial assistance as a result of the COVID-19 pandemic.
Additional Support for our Students
The College has increased its financial aid and emergency funds by approximately $3m.
As a testament to our Augustinian value of service to others and in the wake of this ongoing health crisis, Merrimack has established the Student Emergency Fund to assist those students who are facing additional financial hurdles. The fund provides the Merrimack community with a way to help our most impacted students by providing funding or additional guidance and resources for students in need of assistance with:
- Off-Campus Food/Toiletries
- Off-Campus Shelter/Utilities
- Online Learning-Related Expenses
- Medication Expenses
- Cost of Attendance or Financial Aid concerns for the upcoming academic year or any additional financial hardship that is COVID-19 related such as a parent losing a job, a student losing a job, additional COVID-19 expenses, etc.
Students who are concerned financially about this coming academic year may seek additional assistance during this trying time by submitting a request through the Student Emergency Fund form.
Merrimack College was awarded $2.6 million in federal funds through the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The amount of funds is determined by a combination of those students eligible for Pell Grants and the remainder of the student population (the U.S. Department of Education allocated 75 percent of the funds available in the act based on the full-time equivalent enrollment of Pell Grant recipients and the remaining 25 percent based on the full-time equivalent enrollment of students who did not receive a Pell Grant). The funds are split into two equal parts. One part, $1.3 million, is dedicated to institutional use to offset additional operational the costs associated with the pandemic. The College has elected to utilize these funds to offset expenses otherwise paid by students. While helpful, the CARES Act funds are significantly less than the costs associated with the institution’s response to the pandemic.
The second $1.3 million is funding for students to help defer costs directly related to COVID-19 expenses. The College will use these funds as part of the student emergency fund to assist students with COVID-19-related expenses.