by our College Data Analytics TeamMany students will not be asked to pay the full, advertised sticker price of a school. Instead, they will be given a financial aid offer that will include a combination of scholarships, grants, loans, and work-study. The total cost of going to Mercy University can seem overpowering, but remember that the majority of students are given some form of financial assistance.
What financial aid options can Mercy offer, and what will you qualify for? Keep reading for more information. Keep scrolling to see how much school funding could be available to you.
The amount of financial aid and scholarships you are eligible for will vary depending on your family’s income. Read on to get a sense of the financial assistance available at Mercy University.
Colleges use loans, grants, scholarships and work-study to minimize what students actually pay out of pocket. Keep in mind that certain forms of assistance are more beneficial than others, and aid amounts differ from student to student.
At Mercy University, 99% of entering full-time freshmen got some type of financial assistance roughly 1138 incoming students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 99% | $17,664 |
| Institutional grants & scholarships | 98% | $10,236 |
| Federal Pell grants | 75% | $6,216 |
| State/local grants | 68% | $3,866 |
| Federal student loans | 40% | $4,938 |
Unlike loans, grants and scholarships are gift aid that does not need to be paid back, making them the most desirable form of assistance. At Mercy, some 71% of undergraduates were awarded grant or scholarship aid averaging $13,584 (across approximately 4586 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 71% | $13,584 |
| Federal Pell grants | 50% | $5,738 |
| Federal student loans | 46% | $7,434 |
On-campus students receiving title-IV aid were awarded grants averaging $18,524.
The figures below show the average net price — cost after all grant and scholarship aid — broken out by family income.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $13,517 |
| $30,001 – $75,000 | $15,570 |
| Over $75,000 | $21,917 |
The numbers above are post-aid net prices, so they already account for grants and scholarships.
Net price is the average annual cost after grants and scholarships are subtracted from the published cost of attendance — the figure closest to what a typical aid-receiving student actually pays.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $14,072 |
| Off-campus title-IV students | $15,770 |
For an estimate tailored to your family circumstances, see Mercy’s online cost calculator: www.mercy.edu/admissions/financial-aid/net-price-calculator/.
Graduating students at Mercy carry a median federal student debt of $15,000 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $15,000 |
| Median federal debt (graduates only) | $19,637 |
| Typical 10-year monthly payment (graduates) | $208.18/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
A single median figure conceals how much debt outcomes differ student to student. These percentiles trace how cumulative federal debt is spread among borrowers at Mercy.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,500 |
| 25th percentile | $7,171 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $36,762 |
The figures below break down median federal debt by income tier, first-generation status, and dependency.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $14,901 |
| Middle income | $15,000 |
| High income | $16,250 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $15,200 |
| Continuing-generation students | $14,250 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $14,225 |
| Independent students | $17,750 |
The figure below distills the debt data into a single burden category for Mercy.
Most undergraduate borrowing runs through the federal Stafford loan program. The aggregate figures below show how active the program is at Mercy:
| Metric | Value |
|---|---|
| Stafford loan recipients | 43423 |
| Total Stafford loan amount | $1,269,706,576 |
If you are a veteran or active-duty service member, the GI Bill and DoD Tuition Assistance are the primary federal programs you can use at this school.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 112 |
| Total GI Bill amount | $1,790,199 |
| Average GI Bill amount per recipient | $15,984 |
Active-duty Tuition Assistance recipients
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 1 |
| Total DoD amount | $4,500 |
| Average DoD amount per recipient | $4,500 |
References
More about our data sources and methodologies.