Types of Aid

Students who attend Merrimack College may qualify for Federal Pell Grants, Supplemental Educational Opportunity Grants (SEOG), Perkins Loans, Work-Study, and the Federal Family Education Loan Program (FFELP): Parent (PLUS) Loans and Student Stafford Loans.  Be sure to file the Free Application for Federal Student Aid at www.fafsa.gov.  If you have questions about filing the FAFSA, please contact the Office of Financial Aid at 978-837-5186.  To view a FAFSA tutorial, check out this link.

State

State-funded grants are available from the Commonwealth of Massachusetts and from other states that have reciprocal agreements. Applicants for Massachusetts State Grants must have been permanent residents of the state for at least one year. Processing deadline for the FAFSA was April 30, 2009.

Federal Perkins Loans are funded by Merrimack College and the federal government. Interest rates are set at 5% with repayment deferred until nine months after graduation. There is no loan application but students will sign a promissory note provided by the college.

Federal Family Education Loan Program

Merrimack College participates in the Federal Family Education Loan Program (FFELP) offering parents and students a wide variety of banking options. For fast and efficient loan processing, Merrimack has partnered with American Student Assistance (ASA), one of the nation’s leading loan guarantors.

2009-2010 Parent and Student Loan

Students attending Merrimack College for the first time who were offered a student loan will be receiving an email alert on their Merrimack College address of the steps to be taken to secure the loan.  The Financial Aid web pages have been updated with loan information (updated as of 6-24-09).

Federal Parent (PLUS) Loans

Merrimack College has prepared a list of recommended lenders for PLUS loans for the 09-10 financial aid year.  You may view the comparison of PLUS loan lenders with benefits and rates.

Instructions for PLUS loan application process, how to electronically sign the master promissory note (MPN) will be sent to the Merrimack College email address for incoming freshman and transfer students soon.

For parent assistance with PLUS Loan Application, check out the Parent Loan Processing Guide.

Please note that you are not obligated to obtain a loan through one of our recommended lenders.

Link directly to PLUS Loan Application here (ASA).

Federal Stafford Loan for Students

Merrimack College has prepared a list of recommended lenders for student Stafford loans for the 09-10 financial aid year.  You may view the comparison list of Stafford loan lenders with benefits and rates.

Instructions for student Stafford how to electronically sign the master promissory note (MPN) and information for students on completing the mandatory on-line entrance counseling will be sent to the Merrimack College email address for incoming freshman and transfer students soon.

New and first-time borrowers will first need to accept the stafford loan(s) (Subsidized; Unsubsidized) before Merrimack College can initiate the loan.  The next step is to complete Entrance Counseling on the website Mapping Your Future.  Once your loan has been initiated you will be notified by American Student Assistance (ASA) how to electronically sign the MPN and choose a lender.  Detailed instructions of completing the Entrance Counseling and signing the MPN will be sent to the student's Merrimack email address.

Link directly to ASA to electronically sign your Master Promissory Note and choose a lender for your student Stafford loan.

For student assistance with electronically signing the Master Promissory Note, check out the Student Loan Processing Guide.

Annual Stafford Loan Limits

Please note that you are not obligated to obtain a loan through one of our recommended lenders.

Note: Returning student financial aid award letters will be mailed by the end of June.

Additional assistance regarding student Stafford and PLUS loan processing may be obtained by calling American Student Assistance (ASA), the loan guarantor, at 1-800-999-9080 Select Option 1.

Student/Parent Alternative Loan information can be found on this link.

SCHOOL FOR ADVANCED STUDIES FINANCIAL AID

Please read the brochure linked below for information regarding financial aid opportunities for students enrolled in the School for Advanced Studies.
 
2009-2010 Advanced Studies Financial Aid Brochure

Students looking for financial assistance may apply via the Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov.  Please be sure to add the Merrimack College Federal School Code 002120.  Once you have filed the FAFSA, contact the Office of Financial Aid at 978-837-5186 to indicate that you are a recent FAFSA filer and an accepted degree-seeking candidate through the School for Advanced Studies or enrolled in one of the Master of Education Programs.

An email will be sent to students who have contacted our office and informed us of their FAFSA filing indicating their eligibility for the student Stafford loan.  New and first-time borrowers at Merrimack College will first need to accept the Stafford loan(s) (Subsidized/Unsubsidized) before we can initiate the loan.  The next step is for the student to complete Entrance Counseling on the website Mapping Your Future.  Once your loan has been initiated you will be notified by American Student Assistance (ASA) how to electronically sign the MPN and choose a lender.

Once the student Stafford loan has been initiated by our loan officer, students may link directly to ASA to electronically sign your Master Promissory Note and choose a lender.

For student assistance with electronically signing the Master Promissory Note, check out the Student Loan Processing Guide.

GRADUATE STUDENT LOAN LIMITS

• $8,500 Subsidized Loan
• $12,000 Unsubsidized Loan
• Total $20,500 for the academic year

FOR ADDITIONAL INFORMATION

The Office of Financial Aid is located on the campus of Merrimack College in Room 15B of Austin Hall. Our business hours are Monday - Friday 8:30 am to 4:30 pm. The College closes at 12 (noon) on Fridays during the summer months.  We can be reached by telephone at (978) 837-5186, by fax at (978) 837-5067 or e-mail the Office of Financial Aid at financialaid@merrimack.edu