by our College Data Analytics TeamA lot of 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 sum total of attendance at Mount Mercy University can sound tremendous, but do not forget that almost all students get some type of financial help.
Just what financial assistance solutions will Mount Mercy provide, and just what are you going to be eligible for? Read on for answers. Read on to find out how much school funding will be available to you.
Eligibility for aid and scholarships is driven mostly by your household’s income and need. The figures below will help you estimate the aid you might receive from Mount Mercy University.
Financial assistance, available as scholarships, loans, and work-study, is a way schools lower the price of attendance so many students can enroll. Some kinds of aid are clearly preferable to others, and outcomes differ across students.
At Mount Mercy University, 100% of entering full-time freshmen got some type of financial assistance (about 202 incoming students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 100% | $30,735 |
| Institutional grants & scholarships | 100% | $26,526 |
| Federal Pell grants | 32% | $5,164 |
| State/local grants | 35% | $6,916 |
| Federal student loans | 58% | $5,287 |
The best aid is gift aid: grants and scholarships that carry no repayment obligation. At Mount Mercy, roughly 86% of undergraduate students received gift aid averaging $27,661 (across roughly 1024 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 86% | $27,661 |
| Federal Pell grants | 27% | $5,021 |
| Federal student loans | 53% | $8,480 |
For on-campus title-IV students, average grant aid came to $34,886.
Since aid is largely need-based, the real cost of attendance falls steeply for lower-income families.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $19,274 |
| $30,001 – $75,000 | $22,541 |
| Over $75,000 | $25,661 |
Each amount is the average cost remaining once grant aid is subtracted, by income band.
Net price is the cost remaining after grant and scholarship aid is subtracted from the sticker price, and it is the most useful single number for estimating real cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $20,168 |
| Off-campus title-IV students | $23,435 |
For a personalized estimate based on your family’s financial situation, use Mount Mercy’s NPC: www.mtmercy.edu/admissions-aid/financial-aid/net-price-calculator.
The median federal debt load at Mount Mercy comes to $18,500 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $18,500 |
| Median federal debt (graduates only) | $23,699 |
| Typical 10-year monthly payment (graduates) | $251.25/mo |
Under a standard ten-year plan, the median graduate’s monthly payment lands near the figure above.
The median alone does not show how widely outcomes vary across the student body. These percentiles trace how cumulative federal debt is spread among borrowers at Mount Mercy.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,000 |
| 25th percentile | $8,830 |
| 75th percentile | $26,000 |
| 90th percentile (highest-debt students) | $33,000 |
How much a student borrows depends heavily on family income, first-gen status, and dependency.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $18,750 |
| Middle income | $17,500 |
| High income | $18,750 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $18,680 |
| Continuing-generation students | $17,175 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $17,454 |
| Independent students | $20,000 |
The figure below distills the debt data into a single burden category for Mount Mercy.
The Stafford program is the federal direct-loan vehicle most undergraduates use. These figures summarize annual Stafford program activity at Mount Mercy:
| Metric | Value |
|---|---|
| Stafford loan recipients | 6877 |
| Total Stafford loan amount | $136,259,967 |
Military-affiliated students can tap the Post-9/11 GI Bill and DoD Tuition Assistance.
Post-9/11 GI Bill activity
| Metric | Value |
|---|---|
| GI Bill recipients | 9 |
| Total GI Bill amount | $104,388 |
| Average GI Bill amount per recipient | $11,599 |
References
More about our data sources and methodologies.