$4,062

Avg. Federal Grant

$5,781

Avg. Federal Loan

$31,636,584

Total Aid Awarded

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Misericordia University Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

86%

Total Aid Amount Average Total Aid Awarded per year.

$31.637M

Financial Aid Official Website

www.misericordia.edu/financialaid

Misericordia University, Wilke-Barre, Pennsylvania, mission is to provide students with the information, support, and guidance needed to make the financial aid process easy and stress-free. We believe in individualized attention. As such, a financial aid counselor is assigned to each student. The financial assistance can be in the form of loans, state grants, federal grants, scholarships, or any other private loans.

Till now Misericordia University has provided aid to 86% of the eligible students and the total aid amount received by the students sums up to $31,636,584.

To be eligible for financial assistance the students need to complete the FAFSA form and the University FAFSA code is 003247.

Types of aid provided by the university are:

Grants 

Grants are types of financial aid that do not need to be repaid. They may be awarded based on need, excellence in academics or other areas, or a combination of both. The aid may be given by the federal or state government, by MSU, or by a private donor.

Federal Grants

Federal grant funds are limited to students working on their first undergraduate degree. Students who have met degree requirements are no longer eligible for the following awards, even if the student elects not to seek conferral of the degree until a later semester.

Federal Pell Grants

Pell Grant offers assistance to high need students working toward their first bachelor's degree. The Pell Grant is funded each year by Congress, which sets the minimum and maximum award amounts. If you are eligible for the Pell Grant, it will be listed on your MSU financial aid award offer. Eligibility is determined by the FAFSA. 

Federal Supplemental Educational Opportunity Grants(FSEOG)

SEOG is a federal grant available to very high need students working toward their first bachelor's degree. If you are eligible for SEOG it will be listed on your award offer. There is no separate application, and the award will disburse automatically once you are registered. You must be enrolled full-time (12 credits per semester) to receive this grant.

Teacher Education Assistance for College and Higher Education (TEACH) Grant - The TEACH Grant is a program designed for education majors enrolled in the high need fields of special education, mathematics, biology, chemistry and English as a second language. Incoming freshman applicants must have achieved a 3.25 high school grade point average.

State Grants

Students who reside in other states may look up the financial aid programs offered by their state. There are various state programs offered by Misericordia University. The students residing in Pennsylvania can avail of the state grants provided to them.

Pennsylvania Higher Education Assistance Agency Grant (PHEAA) - This program allows PA residents to obtain financial assistance for undergraduate study. Eligibility and grant amounts are determined by PHEAA. Students apply directly for this grant by completing a FAFSA

Federal Work-Study Program

Work-study is awarded to new students based on demonstrated financial need, and to continuing students based on their use of work-study during the prior year as well as continued demonstrated financial need. Students who do not work and earn at least $1,000 of their award will not be offered the award in the following year.

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Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

23%

State Grant Aid

30%

Institution Grant Aid

100%

Pell Grant

23%

Average Aid Awarded

Federal Grant Aid

$4,062

State Grant Aid

$3,354

Institution Grant Aid

$18,926

Pell Grant

$3,942

The types of aid provided by Misericordia University are federal grants, pell grants, institutional grants, and state grants. The students receiving these aids in terms of percentage and amount received by them are described below.

  • The Federal Grant Aid is received by 23% of the students which contributes to the amount of $4,062.

  • The Institutional Grant is received by all the students that are 100% and the amount received is $18,926.

  • The amount of $3,942 is provided to 23% of students in the form of pell grants.

  • 30% of students are receiving the state grant aid that holds the amount of $3,354.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$26,659

$30,001 - $48,000

$25,814

$48,001 - $75,000

$24,085

$75,001 - $110,000

$21,581

Over $110,000

$18,455

The annual family income is also pondered upon by Misericordia University. The family with less income are provided with more financial aid. Providing aid to the students helps them a lot as there are students who cannot afford to pay a huge amount for completing education. The distribution of the aid based on family income is shown below.

  • The families with an income of less than $30,000 are provided with maximum financial aid. The amount for them is $26,659.

  • The amount of $25,814 is provided to the students with family income between $30,001 to $48,000.

  • The families with income ranging from $48,001 to $75,000 received aid up to $24,085. 

  • The amount of $21,581 is received if the income bracket is from $75,001 to $110,000 and the minimum amount is provided to the family earning beyond $110,000, which is $18,455.

Student Loans for Misericordia University

Average Loan Amount Average Loan Amount received per year.

$9,334/Year

Students Taking Out Loans

81%

Loan Default Rate

4.1%

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