Scholarships and Grants
Student Loans
Federal Work Study
National and International Scholarships and Fellowships
Pell Grants - Federal need based grants are available to students seeking their first bachelor’s degree. The amount of the grant varies depending on the student’s enrollment status and demonstrated financial need per the FAFSA. The maximum annual award fis currently $5350. Completion of the FAFSA serves as application for the Pell Grant.
Georgia Tuition Equalization Grants - Undergraduate, degree-seeking students who are Georgia Residents and enrolled full-time may qualify for a Georgia Tuition Equalization Grant. The dollar value of the grant varies by term depending on the funds appropriated by the State legislature. The award is currently $300 per each semester of full-time enrollment. Application information is sent to students at the beginning of their first term of full-time enrollment.
SMART Grants - Federal grants awarded to Pell eligible U.S. citizens who have a cumulative 3.0 GPA. Students must be enrolled full-time, have earned between 48 and 95 semester hours, and be pursuing a four year degree in Information Systems. The award is currently $2000 per semester. Completion of the FAFSA serves as application for the SMART Grant.
HOPE Scholarships - Georgia Residents who have a cumulative 3.0 HOPE GPA at the end of the term in which 30, 60 or 90 semester hours are attempted and at the end of each Spring semester may qualify for a HOPE Scholarship. Full-time students receive $1750 per semester and part-time students (6 - 11 hours) receive $875 per semester. Only High School HOPE Scholars qualify before 30 hours have been attempted. Students lose eligibility once they have attempted 127 hours or have been paid 127 hours of combined HOPE Scholarship, HOPE Grant and HOPE Accel. A HOPE Scholarship Eligibility Review is performed for all students once they have been fully admitted to the University.
Promise Teacher Service Cancelable Loans - Service cancelable loans are available to qualified juniors and seniors admitted to the Teacher Education Program who aspire to be teachers in Georgia public schools and who have a cumulative 3.0 GPA. The maximum annual award is $3000. A limited number of loans are available. Additional program information and applications will be available on-line at www.gacollege411.org beginning June 1.
HOPE Teacher Service Cancelable Loans – Service cancelable loans are available to students seeking advanced education degrees (Master’s, Specialist or Doctorate) in critical shortage fields. Students are awarded $200 per semester hour enrolled. A limited number of loans are available. Additional program information and applications will be available on-line at www.gacollege411.org beginning June 1.
TEACH Grants – The TEACH Grant is a federal service cancelable loan available to students who agree to teach full-time in a high need field in a school that serves low income students. Students must be fully admitted into a TEACH eligible program, maintain a 3.25 GPA and be seeking a graduate degree or their first bachelors degree. Applications are available on the Forms page of this website.
Back to School Scholarship for Women - Female students can apply for the $500 Back to School Scholarship for Women if they are at least twenty-five years of age, in good academic standing, enrolled for a minimum of 6 hours per semester and are not Pell Grant eligible. Recipients of these $500 scholarships are selected by the Scholarship Committee based on the applicant’s personal statement concerning her pursuit of a college degree. Applications are available from the Regional Academic Center Financial Planning Office or you may apply online here.
Student Loans - Low interest rate need based and non-need based loans are available to students who enroll at least half-time (6 hours). The maximum amount that students may borrow per academic year is $5500 for freshmen, $6500 for sophomores, $7500 for juniors and seniors and $8,500 for graduate students. Independents students may be eligible to borrow an additional $4000 (freshmen and sophomores), $5000 (juniors and seniors) or $12,000 (graduate students).
Students are not required to repay the principal portion of their student loans until 6 months after they graduate, withdraw from school, or drop to less than half-time enrollment. Repayment of the interest depends on the type of student loan awarded. To apply for a student loan, students should complete a FAFSA.
When you take out a student loan, you must pay it back -- even if you do not complete your education.
Subsidized Federal Direct Loan
Subsidized Federal Direct Loans are awarded on the basis of financial need. The interest on this loan is paid by the federal government while the student is enrolled in school at least half-time (six hours for undergraduates), and during the first 6 months following withdrawal or graduation from school. The six months following departure from school is a grace period. After this period, the student must begin repayment of the loan.
Unsubsidized Federal Direct Loan
Unsubsidized Federal Direct Loans are not awarded on the basis of financial need. Interest is charged from the time the loan is disbursed until the loan is paid in full. The student can choose to pay the interest or allow it to accumulate. If the interest is allowed to accrue, it will be added to the principal amount of the loan, thereby increasing the amount of money the student is required to repay. Students must be enrolled in at least six credit hours to be eligible to receive this loan.
Federal PLUS Loan
PLUS Loans enable creditworthy parents to borrow funds to help pay the educational expenses of their dependent undergraduate child who is enrolled in at least six hours of coursework. PLUS repayment generally begins within 60 days of the loan's disbursement.
To apply, a separate form must be completed every year by the parent or legal guardian. The yearly limit a parent can borrow is equal to the cost of attendance at Mercer, minus any other financial aid which the student is receiving.
If the loan is denied due to an adverse credit history, the parent will be notified by the
Direct
Loan
Servicing
Center. The parent may pursue the PLUS Loan further by securing a creditworthy endorser (cosigner). The student is not eligible to endorse a PLUS Loan. If the parent does not wish to pursue the PLUS Loan further, the student may be eligible to receive a Federal Direct Unsubsidized Loan.
Graduate Plus Loan
An additional loan resource for graduate students is the new Direct Loan GradPlus Loan Program. These loans are made available to graduate students who are enrolled at least half-time at Mercer. A credit check must be performed for the borrower; and the yearly limit that the student can borrow equals the Total Cost of Attendance for student's program minus any other financial aid the student is awarded. To apply, a separate form must be completed every year.
Additional information regarding student loans can be found at www.ed.gov/directloan
Alternative Loans - Students who do not qualify for federal student loans or who need additional funding may be interested in applying for alternative student loans offered through banks, credit unions and commercial lending organizations. Please be aware that these alternative loans have terms which may differ significantly from federal student loans. Most lenders require the student to either demonstrate a good credit history or obtain a creditworthy co-borrower. All private alternative loans must be certified by the Mercer University Office of Student Financial Planning.
Click here for a list of Alternative Lenders. Please note that this list is not comprehensive – it is merely a list of some of our students’ most frequently used lenders. We strongly recommend that you carefully review the terms and fees associated with each alternative loan you may consider.
Work Study - A limited number of part-time employment opportunities are available to students who are interested in working on campus or in a community service job off-campus. Students must demonstrate financial need per the FAFSA in order to be eligible for the Work Study program. Interested students should contact the Financial Planning Office.
National and International Scholarships and Fellowships