$4,565

Avg. Federal Grant

$6,194

Avg. Federal Loan

$5,185,651

Total Aid Awarded

Mercy College of Ohio Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

66%

Total Aid Amount Average Total Aid Awarded per year.

$5.186M

Financial Aid Official Website

www.mercycollege.edu/tuition-aid/financial-aid

It is interesting to note that, every year, around 93% of students at MCO receive some kind of financial aid, while the total amount of assistance/loans provided is $6,960,448. Notably, a total of 30% of the applicants to Mercy College of Ohio receive the Federal Grant every year. In comparison, 77% of the students are awarded the Student Grant, 58% get the Institution Grant, and 30% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,627, while the same comes to $2,979 for State Grant receivers and $2,778 for Institution Grant awardees. On the other hand, the average aid received by the Pell Grant awardees is $3,405. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Candidates are also required to repay these loans within a given period. At MCO, an estimated number of 77% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

36%

State Grant Aid

17%

Institution Grant Aid

31%

Pell Grant

34%

Average Aid Awarded

Federal Grant Aid

$4,565

State Grant Aid

$4,095

Institution Grant Aid

$4,384

Pell Grant

$4,689

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$6,028

$30,001 - $48,000

$5,407

$48,001 - $75,000

$1,616

$75,001 - $110,000

$42

Over $110,000

N/A

Student Loans for Mercy College of Ohio

Average Loan Amount Average Loan Amount received per year.

$7,729/Year

Students Taking Out Loans

83%

Loan Default Rate

5.6%

Minumum Credit ScoreApply in as little asVariable APRFixed APR
Discover Student LoansNot Available15 minutes or less2.954.74 View disclosures
Credible6202 minutes5.38%-16.99%14.43%-16.99%1 View disclosures
Sallie MaeNot Available15 minutes1.13% - 11.23%¹ (with autopay)3.50% - 12.60%¹ (with autopay) View disclosures

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