On March 28, Amanda Abreu, Associate Director of Financial Aid at Merrimack, held a Financial Aid Workshop for admitted students and families.
Topics included:
- Different types of aid: Where it comes from, how it’s determined (Watch here at 2:29)
- Cost of attendance: How it’s calculated, what’s included (Watch here at 15:54)
- Filling the gap: Ways to help with net cost payments (Watch here at 22:48)
- Next steps: Resources, contact info and questions (Watch here at 26.28)
You asked – we answered!
Here are the most commonly asked questions during the workshop:
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!
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.
Yes, filing the FAFSA is required each year you are in school so it’s possible need-based aid could change.
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:
- McQuade library (including online access)
- Fully equipped fitness center and inside track
- Campuswide Wi-Fi
- Career Services, which includes career fairs and panels, job-search workshops, on-campus interviews and extensive one-on-one counseling
- Free printing up to 1,000 pages each academic year
- Discounted or free tickets for athletics and performances
- Participation in intramurals/recreation, club sports, social and educational programs, clubs/organizations and Greek life
- Hamel Health Center, which provides medical, psychological and health-education services.
Yes! Your deposit holds your spot in the class and gets applied to your first semester bill.
Yes! We offer interest-free payment plans spread out over 4, 5 or 6 months. The deadline to enroll is June 15 (for 6 months), July 15 (for 5 months) or August 15 (for 4 months). The fee to enroll in these plans is $55 per semester.
For most students, the deposit is due May 1. However, we accept applications throughout the summer; in those cases, the deposit is typically due within a few weeks of decision release.
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.
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.
What’s next?
We encourage you to keep asking questions and learning about Merrimack. You can:
- Sign up for Admitted Student Day: 4/1 or 4/16: www.merrimack.edu/ASD
- Sign up for a virtual Financial Aid Consultation: www.merrimack.edu/aid-consultations
- Submit a deposit: www.merrimack.edu/deposit
If you don’t know where to start, it’s ok! Contact us at financialaid@merrimack.edu and we’ll point you in the right direction!
