Over the past 10 years (2015-2023), the average number of students who received grants aid/scholarships is 3,471, which is 92.67 % of all undergraduate students. 2,512 students which is 67.56% of undergraduate students received federal student loans and the average loan amount is $6,519.
For full-time, first-time beginning students (freshmen), 99.33% of students received grants or scholarships and 74% of students received student loans.
The following table shows the trends of financial aid for all undergraduate students at Merrimack College since 2014.
For that period, the average number of students who received grants aid/scholarships is 3,471, which is 92.67 % of all undergraduate students. 2,512 students which is 67.56% of undergraduate students received federal student loans and the average loan amount is $6,519.
| Year | Grant or Scholarship* | Pell Grants | Federal Student Loans | |||
|---|---|---|---|---|---|---|
| Number Received (percent**) | Average Amount | Number Received (percent**) | Average Amount | Number Received (percent**) | Average Amount | |
| 2014-15 | 2,705 (89%) | $17,715 | 694 (23%) | $4,132 | 2,123 (70%) | $6,769 |
| 2015-16 | 2,933 (93%) | $17,829 | 643 (20%) | $4,127 | 2,426 (77%) | $6,217 |
| 2016-17 | 3,142 (92%) | $18,999 | 658 (19%) | $4,172 | 2,408 (70%) | $6,641 |
| 2017-18 | 3,305 (93%) | $19,114 | 724 (20%) | $4,412 | 2,443 (69%) | $6,528 |
| 2018-19 | 3,513 (91%) | $21,338 | 700 (18%) | $4,608 | 2,573 (67%) | $6,473 |
| 2019-20 | 3,817 (93%) | $22,692 | 680 (16%) | $4,579 | 2,802 (68%) | $6,352 |
| 2020-21 | 3,934 (94%) | $23,427 | 670 (16%) | $4,762 | 2,673 (64%) | $6,602 |
| 2021-22 | 3,912 (95%) | $25,169 | 664 (16%) | $4,802 | 2,573 (62%) | $6,561 |
| 2022-23 | 3,975 (94%) | $27,006 | 642 (15%) | $5,016 | 2,583 (61%) | $6,529 |
| Average | 3,471 (92.67%) | $21,477 | 675 (18.11%) | $4,512 | 2,512 (67.56%) | $6,519 |
For the last 10 years, on average, 1,001 (99.33 % of students) received grants or scholarships and its average amount is $23,316. It can cover 43.21% of tuition & fees ($53,962).
In addition, 742 (74.00 % of students) students get helped from the students loans (average amount : $12,072).
| Year | Grants or Scholarships* | Student Loans | ||
|---|---|---|---|---|
| Number Received (percent**) | Average Amount | Number Received (percent**) | Average Amount | |
| 2014-15 | 849 (99%) | $18,267 | 663 (77%) | $10,604 |
| 2015-16 | 824 (100%) | $18,995 | 700 (85%) | $10,277 |
| 2016-17 | 1,002 (100%) | $20,113 | 797 (79%) | $12,087 |
| 2017-18 | 852 (100%) | $21,561 | 677 (79%) | $12,433 |
| 2018-19 | 1,114 (99%) | $23,529 | 853 (76%) | $12,907 |
| 2019-20 | 1,174 (100%) | $24,891 | 862 (73%) | $13,364 |
| 2020-21 | 1,075 (99%) | $25,528 | 723 (67%) | $10,784 |
| 2021-22 | 940 (97%) | $27,729 | 617 (64%) | $12,924 |
| 2022-23 | 1,179 (100%) | $29,235 | 785 (66%) | $13,264 |
| Average | 1,001 (99.33%) | $23,316 | 742 (74.00%) | $12,072 |
The following table shows the trends of grants or scholarships over time. For the last 10 years, on average, 188 (19.00 % of students) received Pell (federal) grants and its average amount is $4,511.
In addition, 143 students received State/local government grants/scholarships (14.44 % of students).
| Year | Federal (Pell) Grants | Other Federal | State/Local government | Institutional | ||||
|---|---|---|---|---|---|---|---|---|
| Number Received (percent) | Average Amount | Number Received (percent) | Average Amount | Number Received (percent) | Average Amount | Number Received (percent) | Average Amount | |
| 2014-15 | 197 (23%) | $4,069 | 7 (1%) | $2,758 | 148 (17%) | $1,116 | 849 (99%) | $17,105 |
| 2015-16 | 160 (19%) | $3,989 | 23 (3%) | $2,434 | 117 (14%) | $1,473 | 824 (100%) | $17,943 |
| 2016-17 | 197 (20%) | $4,367 | 17 (2%) | $3,068 | 149 (15%) | $1,523 | 1,002 (100%) | $18,976 |
| 2017-18 | 188 (22%) | $4,648 | 24 (3%) | $3,604 | 145 (17%) | $1,895 | 852 (100%) | $20,111 |
| 2018-19 | 197 (18%) | $4,603 | 21 (2%) | $3,529 | 143 (13%) | $1,465 | 1,111 (99%) | $22,521 |
| 2019-20 | 200 (17%) | $4,662 | 24 (2%) | $3,679 | 148 (13%) | $1,622 | 1,174 (100%) | $23,817 |
| 2020-21 | 171 (16%) | $4,667 | 24 (2%) | $3,661 | 137 (13%) | $1,982 | 1,075 (99%) | $24,451 |
| 2021-22 | 172 (18%) | $4,888 | 27 (3%) | $3,426 | 141 (15%) | $2,292 | 940 (97%) | $26,393 |
| 2022-23 | 209 (18%) | $4,708 | 90 (8%) | $2,303 | 159 (13%) | $2,596 | 1,179 (100%) | $27,875 |
| Average | 188 (19.00%) | $4,511 | 29 (2.89%) | $3,162 | 143 (14.44%) | $1,774 | 1,001 (99.33%) | $22,132 |
The following table describes number of students and average amount of loans by loan type. The following table shows the trends of grants or scholarships over time.
For the last 10 years, on average, 742 (74.00 % of students) get any students loan help and its average loan amount is $742.
| Year | Total | Federal student loans | Other student loans | |||
|---|---|---|---|---|---|---|
| Number Received (percent) | Average Amount | Number Received (percent) | Average Amount | Number Received (percent) | Average Amount | |
| 2014-15 | 663 (77%) | $10,604 | 654 (76%) | $5,527 | 183 (21%) | $18,666 |
| 2015-16 | 700 (85%) | $10,277 | 696 (84%) | $4,826 | 211 (25%) | $18,173 |
| 2016-17 | 797 (79%) | $12,087 | 786 (78%) | $5,410 | 284 (28%) | $18,948 |
| 2017-18 | 677 (79%) | $12,433 | 668 (78%) | $5,399 | 233 (27%) | $20,647 |
| 2018-19 | 853 (76%) | $12,907 | 839 (75%) | $5,479 | 310 (28%) | $20,686 |
| 2019-20 | 862 (73%) | $13,364 | 843 (72%) | $5,177 | 328 (28%) | $21,815 |
| 2020-21 | 723 (67%) | $10,784 | 700 (64%) | $5,356 | 178 (16%) | $22,739 |
| 2021-22 | 617 (64%) | $12,924 | 595 (62%) | $5,354 | 202 (21%) | $23,706 |
| 2022-23 | 785 (66%) | $13,264 | 755 (64%) | $5,365 | 250 (21%) | $25,446 |
| Average | 742 (74.00%) | $12,072 | 726 (72.56%) | $5,321 | 242 (23.89%) | $21,203 |
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