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5 Steps to Paying for College!

Posted by Lisa Croat on Oct 16, 2014 3:00:00 PM
Lisa Croat

Financial aid planning is an important part of earning your health science degree. There are many options students and their families can look at when planning on how to pay for an education. A variety of methods are used to offset the costs for this immeasurable investment.


College debt is foremost on student’s minds when considering how to pay for college. Nationally, more than half of students use loans to help them pay for their education. Students should take advantage of the financial programs within Mercy College and external resources to help minimize the burden of college debt.

According to Financial Aid Director Lisa Croat, "83 percent of students at Mercy College receive some kind of financial aid. This includes loans, scholarships and work-study programs.

In 2011, Mercy College’s cohort default rate was 5.4 percent, well below the national average of 10 percent." Which means Mercy College graduates found jobs and found ways to pay for college.

The first step to receiving financial aid is filling out the Free Application for Federal Student Aid (FAFSA).  Mercy College's school code 006273. Once a student receives his or her FAFSA award notice, usually during late spring or summer, it becomes more clear how the student can pay for their education.

ScholarshipimageStudents qualifying for federal and state grants and loans will be notified by the government in their FAFSA award notice.


If the FAFSA award amount is not enough to cover tuition and other expenses, Croat suggests looking at the following options.

 

  1. Apply for Mercy College institutional scholarships. Applications for fall scholarships open March 1 and applications for spring scholarships open October 1.

  2. Apply for external scholarships. There are many scholarships for students studying health sciences in the state of Iowa. 

  3. Apply for the Workstudy Program. There are a limited number of positions available for students who qualify for Workstudy. More information about these positions can be found on the ELEOS site.

  4. Sign-up for payment plans. Mercy College offers payment plans for degree programs.

  5. Secure a part-time job. If a student does not qualify for the Workstudy program or is unable to obtain a position, he or she should consider securing a a job outside of the College.


Future or current students with questions about financial aid should contact the Financial Aid Office at 515-643-6636 or via e-mail at financialaid@mchs.edu. 

Complete your  FAFSA today!

Topics: Paying for your College Education