STUDENT FINANCIAL SERVICES
115 OLD MAIN – 824-2288
MISSION STATEMENT
The Office of Student Financial Services (SFS) is committed to the pursuit of excellence as follows:
In service to students by providing timely and appropriate information about application processing for scholarships, grants, loans, and work-study.
In providing the maximum and most favorable financial aid resources available to attract and retain students to attend Mercyhurst.
In counseling and advising students on their costs and financial planning, as well as, their financial aid rights and responsibilities before and during enrollment and after graduation.
In providing student bills and pertinent educational tax statements (1098-T, 1042-S, etc.) required for federal and state income tax annual filing.
In initiating and implementing efficient and student friendly procedures that add value to its business processes and services.
In ensuring integrity in the administration of all student aid programs.
STUDENT RIGHTS & RESPONSIBILITIES
Students have the following rights and responsibilities:
Have access to complete information regarding fees, payment, and refund policies.
Confidentiality of all personal and family financial information.
Reconsideration of student aid eligibility if student and parent’s situation warrants it through an appeal to SFS.
To advise SFS of any additional financial aid received that is not indicated on the Mercyhurst Financial Aid Award Letter Notification
To follow application filing deadlines and to submit all required documentation for verification of financial and other information pertaining to the financial aid application process within 21 days of the request.
To give SFS permission to relay pertinent financial, academic, and other information to donors of aid upon request.
To maintain Satisfactory Academic Progress (SAP) for Financial Aid (refer to Academic Catalog for SAP Policy).
To comply with the rules governing the types of financial assistance the student receives.
Students incur a legal obligation to pay for tuition and fees when registering for classes.
Contact the Office of Academic Support and inform SFS if you expect to withdrawal from the college. Refer to the Academic Catalog for more information on dropping courses and withdrawing from the College, as well as, refund policies.
Financial Aid and Billing Processing Schedule and Deadlines
December
· Freshmen scholarship award offers begin.
January
· Free Application for Federal Student Aid (FAFSA) available for filing by going to www.FAFSA.ed.gov.
· Tax Statements for federal and state income tax filing are sent to students that were enrolled prior calendar year.
· Tuition bills are sent to students registered for spring term.
February
· SAP appeals for the spring term must be submitted to the Financial Aid Satisfactory Academic Progress Committee by February 19.
· Student Aid Reports (SAR) start arriving in the mail; Mercyhurst College must be listed as a college choice (school code 003297) on the SAR.
· Loan exit counseling is completed by student-loan borrowers expecting to graduate after winter term.
March
· Need-based packaging begins for freshman, transfer students, and first-time graduate students.
· FAFSA preferred filing deadline for forthcoming academic year is March 15; Mercyhurst College must be listed as college choice (school code 003297) in the college choice section (STEP Six) of the FAFSA.
April
· FAFSA filing deadline for PHEAA Grant applicants is May 1.
· Loan exit counseling is completed by student-loan borrowers expecting to graduate after spring term.
· Summer Financial Aid applications are available in the SFS office and online.
May
· Admission tuition deposits due May 1.
· 20068Federal Income Tax Returns and any other requested information must be submitted to the Office of SFS by May 15 to complete the federal financial aid verification process.
· Returning student records reviewed for Satisfactory Academic Progress (SAP) after spring term grades get posted.
June
· New students (and parents) attend Summer Orientation.
· Returning students Financial Aid Packaging begins for those registered for the following fall term.
· Upperclassmen SAP appeals for combined summer, fall, winter, and spring terms must be submitted to the Financial Aid Satisfactory Academic Progress Committee by June 12.
· Summer Financial Aid applications deadline is June 12.
July
· New students (and parents) attend Summer Orientation.
· Tuition bills are sent to registered students for fall term.
· Loan exit counseling is completed by student-loan borrowers expecting to graduate after summer.
August/September
· New students (and parents) attend Summer Orientation.
· New student loan borrowers complete loan entrance counseling.
· Student loan borrowers sign promissory notes.
· Student employees complete Work-study contracts and I-9 forms.
· Upperclassmen SAP appeals for fall, winter and spring terms are submitted to the Financial Aid Satisfactory Academic Progress Committee by August 21.
October
· Student loan borrowers graduating at the end of the fall term complete loan exit counseling.
· Tuition bills are sent to students registered for the winter term.
November
· Upperclassmen SAP appeals for winter and spring terms must be submitted to the Financial Aid Satisfactory Academic Progress Committee by November 20.
Access to Student Financial Records
Students have the right to review and obtain copies of their financial records by making a request in writing to the Office of SFS.
Students’ information and records are kept confidential and are protected under FERPA regulations. Information disclosure on student financial aid and billing records may only be shared with parents when the Office of Student Financial Services has documentation on file that the parent(s)’ claimed the student on their federal income tax return, or when the student provides the Office of SFS written consent to share information with parents.
Have a Question?
Please direct any questions you may have regarding billing, financial aid status, award determination, or other related concerns to the Office of SFS. For example, contact SFS if any of the following are true:
The student’s or parents’ circumstances that may affect ability to pay (e.g., unusual medical or dental costs not covered by insurance; a student, spouse, or parent with a recent loss of income or benefits, divorce; or death of a wage earner).
The student is considering dropping a class or withdrawing from the College.
The student and/or family are having difficulty paying his/her bill.
The student wants to review his/her Satisfactory Academic Progress status.
SFS Website, Locations and Office Hours
To access our website, visit LakerNet and locate ‘Student Financial Services’ under the ‘Office’ section of the website.
Erie Campus: North East Campus:
Student Financial Services Student Financial Services
Mercyhurst College Mercyhurst North East
Main Building 115 Student Union M6A
501 East 38th Street 16 West Division Street
Erie, PA 16546 North East, PA 16428
Phone: (814) 824-2288 Phone: (814) 725-6363
Fax: (814) 824-2300 Fax: (814) 725-6375
The Office of Student Financial Services is open Monday through Friday, 8:30 a.m. to 4:30 p.m.
Other Important Telephone and Website Contacts
FAFSA Tuition Management System (TMS)
1-800-4fedaid 1-800-722-4867
TDD 1-800-730-8913 Fax: (401) 736-5050
www.fafsa.ed.gov www.afford.com
PHEAA (PA State Grants) FDL (Federal Direct Loan) Servicing
http://www.pheaa.org/stategrants/index.shtml http://www.dlsonline.com
Please refer to the SFS “Policy and Procedure Guide” and Mercyhurst Academic Catalog for more detailed information about student finance policies and procedures.
