Federal and State Financial Aid

Gwynedd Mercy University is committed to providing students and their families with the best information and processing alternatives available regarding student borrowing. For more details on GMercyU’s Student Lending Code of Conduct, visit our policies page.

Federal Pell Grant

A Federal Pell Grant, unlike a loan, does not have to be repaid. In order to be considered, you must:

• Be a U.S. Citizen or Eligible Non-Citizen
• Have not earned a bachelor’s or a professional degree
• Be enrolled for at least 3 credits in a degree-seeking undergraduate program

The amount of any other student aid for which you might qualify does not affect the amount of your Federal Pell Grant.

To apply for federal grants you must submit the Free Application for Federal Student Aid (FAFSA).

The Federal Supplemental Educational Opportunities Grant

If you are an undergraduate who demonstrates financial need and have been offered a Federal Pell Grant, you may be considered for a Federal Supplemental Educational Opportunity Grant (FSEOG).

GMercyU receives a certain amount of FSEOG funds each year; therefore, they are on a first come, first serve basis. Please get your FAFSA and GMercyU Financial Aid application in as early as possible to be considered for this additional funding. The FSEOG grant is different from the Pell Grant Program which provides funds to every eligible student.

Pennsylvania State Grant

If you are an undergraduate Pennsylvania Commonwealth resident pursuing your first bachelor's degree, the Commonwealth of Pennsylvania offers full-and-part-time grants through the Pennsylvania Higher Education Assistance Agency (PHEAA). When you complete your FAFSA, you will automatically be considered for the state grant. In order to be considered for PHEAA, you must submit your FAFSA by their filing deadline of May 1. To find out more information, visit www.pheaa.org.

*If you are an out-of-state student, check with your state grant agency regarding its policy on issuing state grants for out-of-state institutions.

PA Active Volunteer Tuition and Loan Assistance program

PA Student Teacher Support Program

PA Mental Health Education Learning Program

Grow PA Scholarship Grant Program

The William D. Ford Federal Direct Loan Program is the largest federal student loan program. Under this program, the U.S. Department of Education is your lender. All U.S. citizens or eligible non-citizens enrolled at least half-time in a degree-seeking program are typically eligible to apply for these loan programs.

Federal Direct Subsidized Loan

If you are eligible and demonstrate financial need to help cover the costs of your education, you may take out a Direct Subsidized Loan. The federal government pays the interest on the loan during:

• Your enrollment in GMercyU with at least 6 credits or more
• A deferment, which is a temporary, authorized time when your payments may be postponed

 

Federal Direct Unsubsidized Loan

For Direct Unsubsidized Loans, you do not have to demonstrate financial need in order to be eligible but you need to be enrolled at least half-time. You are responsible for paying all interest on the loan beginning the day the loan is paid to you until the loan is repaid in full. You will be able to choose to pay the accumulated interest while you are in school, or have the interest added to the principal balance of the loan.

Note: If your loan interest is capitalized, it will increase the amount you will need to repay.

To apply for a Subsidized and/or an Unsubsidized student loan you will need to:

• Complete the FAFSA at https://studentaid.gov/h/apply-for-aid/fafsa
• Submit your Gwynedd Mercy University financial aid application to the financial aid office
• Complete Entrance Counseling and the Master Promissory Note at www.studentloans.gov (once completed, this requirement is good for 10 years)

Note: You may be required to submit other documentation to the Financial Aid Office – The Financial Aid Office will notify you of any additional information that is needed.

Federal Direct PLUS Loan

The Direct PLUS loan enables your parent to borrow on your behalf if:

• You're a dependent student
• Enrolled in a degree granting undergraduate program
• Enrolled at least half-time (6 credits)
• Your FAFSA and financial aid application is submitted

Your parent will need to be determined to have a satisfactory credit history in order to be eligible.

The amount of the PLUS loan may not exceed cost of attendance minus any estimated financial aid you have or may receive during your period of enrollment.

Your parent can apply online at www.studentloans.gov.

If your parent is denied a PLUS loan, you may be eligible to borrow additional funds from the Federal Direct Unsubsidized loan program. Freshman/sophomore students may borrow up to an additional $4,000 and junior/senior students may borrow up to an additional $5,000 in Federal Direct Unsubsidized Student Loans for the year.

Annual borrowing rates are as follows:

• Freshmen: $5,500
• Sophomores: $6,500
• Juniors/Seniors: $7,500

Note: Independent students can borrow an additional $4,000 (freshmen and sophomores) or $5,000 (juniors or seniors) through the unsubsidized program.

Federal Nursing Loan

If you are a U.S. citizen or eligible non-citizen with financial need enrolled full-time in the undergraduate nursing program, you are eligible to apply for a Nursing Student Loan. Loans range in amounts from $500 to $5,500.

To apply, you will need to:

• File your FAFSA at https://studentaid.gov/h/apply-for-aid/fafsa
• Email the financial aid office at financialaid@gmercyu.edu to request consideration for the nursing loan.

If you are approved to borrow from the nursing loan program you will be instructed on where to complete the necessary paperwork to secure the loan.

Interest begins to accrue upon disbursement of the loan; repayment begins after a 9 month grace period. Your grace period begins upon graduation, when you are enrolled less than half time, or if you change your major to something other than Nursing.

For more information on how to manage your Nursing loan, visit GMercyU’s Student Billing Office page.

Federal Work Study (FWS) is a federally supported employment program where students are offered jobs to help cover college expenses. Work-study is also an opportunity to gain relevant work experience to strengthen your resume and build your real-world skill set. If you are offered a federal work-study opportunity, it will be included in your Gwynedd Mercy University financial aid package.

If you are interested in participating in the work study program, please indicate so on your FAFSA. If you did not indicate your interest in Federal Work-Study on your FAFSA but are interested, please email financialaid@gmercyu.edu and someone will assist you.

Your Gwynedd Mercy University financial aid packet will have more details on the work-study positions available. You can also search open work-study positions here on the portal. Your packet will include the date that the application and interview process will begin.

Job placement is made on the basis of your qualifications, and we make every effort to connect you to a position related to your major. Jobs are provided on a first-come, first-serve basis, so it’s important to submit your application early. Hours and compensation for your work-study position are managed online through ADP Workforce Now system. 

If you have any questions about GMercyU’s Federal Work-Study Program, we’re happy to help. Please contact financialaid@gmercyu.edu.

Federal Direct Unsubsidized Loan

For Direct Unsubsidized Loans, you do not have to demonstrate financial need in order to be eligible. You are responsible for paying all interest on the loan beginning the day the loan is paid to you until the loan is repaid in full. You will be able to choose to pay the accumulated interest while you are in school, or have the interest added to the principal balance of the loan.

Note: If your loan interest is capitalized, it will increase the amount you will need to repay.

To apply for a Subsidized and/or an Unsubsidized student loan you must:

• Complete the FAFSA at https://studentaid.gov/h/apply-for-aid/fafsa
• Submit your financial aid application to the Financial Aid Office
• Complete Entrance Counseling and the Master Promissory Note at www.studentloans.gov (once completed this requirement is good for 10 years)

Note: You may be required to submit other documentation to the Financial Aid Office – The Financial Aid Office will notify you of any additional information that is needed.

Federal Direct Graduate PLUS Loan

If you need to borrow funds beyond the federal unsubsidized loan limit, you may apply for the Direct Graduate PLUS. This loan is offered to you if you meet all financial aid eligibility requirements, with our without financial need. Graduate students are eligible for up to $20,500 in unsubsidized loans only.

The interest rate on Direct PLUS Loan is a fixed 6.84%. Interest begins to accrue and repayment may begin upon disbursement of the loan. The U.S. Department of Education makes the Direct PLUS Loan.

You can apply online at https://studentaid.gov/.

The One Big Beautiful Bill Act (OBBBA) introduced new federal student loan limits and eliminated certain loan programs for new borrowers starting July 1, 2026.

• Graduate PLUS Loans will no longer be available to new borrowers after July 1, 2026.
• Parent PLUS Loans will remain available but with new limits for students entering or changing programs in Fall 2026 and beyond:
  • $20,000 per year per dependent student
  • $65,000 lifetime per dependent student

A new borrower is a student who has not received a Federal Direct Unsubsidized Loan before July 1, 2026.

Annual and lifetime limits:

• Undergraduate students: Find all details here
• Graduate students: $20,500 annual / $100,000 lifetime
• Professional students: $50,000 annual / $200,000 lifetime

The maximum lifetime federal loan limit is $257,500 (excluding Parent PLUS Loans).

Graduate PLUS Loans will not be available to new borrowers.

Students who received a Direct Unsubsidized Loan or Graduate PLUS Loan before July 1, 2026, and remain enrolled in the same program at GMercyU, may continue borrowing under current rules:

• $20,500 in Unsubsidized Loans annually
• Graduate PLUS Loans up to the cost of attendance

This applies through June 30, 2029 or until program completion, whichever comes first.

Yes. Beginning July 1, 2026, new borrowers enrolled less than full-time will have federal loan eligibility prorated based on enrollment status. Additional guidance is expected.

The Department of Education (ED) announced proposed definitions of "professional degree" during rulemaking and included a short list of programs they have designated as professional. These definitions may continue to evolve. Many graduate programs not included on the list are professional in nature (require professional licensure to begin practice), but did not meet ED’s requirements for an increased level of borrowing.

Yes. Federal Direct Unsubsidized Loans will remain available within new limits. Private student loans are expected to play a larger role for graduate students.

Gwynedd Mercy University has been a long-time partner with Elmselect, a website where you can compare private loan options. This site provides students with clear information about loan rates and terms so you can compare products and find the one that meets your needs. This is a free service and no registration is required.
https://www.elmselect.com/v4/school/11/program-select 

For all questions regarding federal financial aid, contact the Office of Financial Aid.
By phone: (215)646-7300 Extension 21216
By email: FinancialAid@gmercyu.edu