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Financial Aid is generally awarded in the form of a package which will include a combination of the following types of aid.

University Aid
About 90 percent of Gannon's students receive financial assistance. The financial aid budget is over 28 million dollars. Aid awards range from $100 to the full cost of tuition and room and board. Gannon financial aid is awarded in the form of grants to students who show a need for help in paying tuition, scholarships to students with strong academic backgrounds, leadership awards to students who excel in extracurricular activities, and athletic scholarships to student athletes.

Loans
Long-term loans are an important financial aid resource available to students who need help and who are willing to pay for part of their current education with their future earnings. Loans may be used to provide supplementary assistance to students receiving scholarship stipends, or to help students with genuine need where scholarship funds are not available. Click for additional information regarding student borrowing from the FTC and Department of Education.

Federal Stafford Loans (Guaranteed Students Loan)
Students with financial aid, and many students not receiving financial aid through Gannon, are eligible to apply for a Guaranteed Student Loan. Under this program a student may borrow from $3,500 to $5,500 subsidized and $2,000 unsubsidized per year subject to a total undergraduate borrowing limit of $31,500. The interest rate is fixed and subsidized interest is paid by the Government while a student is enrolled at Gannon. This type of loan can be obtained through a local lender. Parent Loans and independent student loans are also available.

Federal Perkins Loans (formerly NDSL)
Gannon University awards Perkins Loans on a limited basis because our available funds are dependent on collections from previous Perkins loans and yearly allocation to the fund from the Federal Government. The interest rate on this loan is five percent. Interest and principal payment begins nine months after leaving college or graduate school.

Nursing Student Loan Program
The Nursing Student Loan Program is patterned after that of Perkins Loan but applies only to those who have been accepted in the nursing program. the program is intended to assist full-time students to achieve careers in nursing by providing long-term, low-interest loans to help meet the costs of education. The maximum loan is $1,500 for an academic year or the amount of financial need, whichever is less. The total amount of a student's loan for all years may not exceed $6,000.

Repayment may be made over a ten-year period which begins nine months after study has been terminated. Six percent interest accrues during the repayment period. Payments may be deferred up to three years during military service, Peace Corps participation, or periods of full-time advanced professional training in nursing.

Student Employment
Parents and candidates often question the wisdom of a student's working. The answer, of course, depends upon the individual's ability and study habits. Experience indicates, however, that the discipline required for a job often carries over into a student's study habits. Those who hold a part-time job for a modest number of hours each week often show better academic performance than those who do not. The advantages of term-time employment, however, vary with the individual, and entering freshmen are cautioned against planning to work more than ten hours a week.

The Federal Work-Study Program
The majority of the employment opportunities on campus are reserved for students receiving Federal work-study funds as a part of their financial aid award. The program provides students with many interesting opportunities to work with faculty, staff, and administrators. Students normally work approximately 10 hours a week and are able to set up their work schedule around the times they attend classes.

Off-Campus Employment
The Counseling and Career Services Office maintains a file of off-campus jobs available to Gannon students and will assist students in finding employment.

Federal Supplemental Educational Opportunity Grants
Established by Congress to help universities enroll qualified students of exceptional financial need, this program is administered by Gannon.

Outside Scholarships
Candidates for Gannon scholarships are urged also to apply for national, state, and local scholarships for which they may be eligible and which may be used at the university of their choice. These include National Merit Scholarships and scholarships offered by local foundations, clubs or business organizations.

The high school guidance office should be consulted about these awards. If such scholarships do not cover the full need of the student, they may be supplemented by Gannon grants. All outside scholarships received and applicable at Gannon should be reported to the Financial Aid Office, even if they are received after the financial aid application form is sent in or after Gannon award is made. This is because they must be considered a resource in determining need.

Army ROTC Scholarships
Gannon's ROTC program enables students to use scholarship money awarded by the U.S. Army. Four-year winners may receive up to $12,000 annually toward tuition costs and $950 toward books and miscellaneous fees. The application deadline is December 1.

Gannon offers Room and Board Scholarships to winners of the Three-Year Advanced Designated and Four-Year ROTC Scholarships. Room and Board Scholarships include free University housing and meal plan for the length of the Army scholarship. For additional information contact the Department of Military Science at Gannon.

Tuition Exchange Program
Gannon University is a participating member of the Council of Independent Colleges Tuition Exchange Program. The CIC Tuition Exchange Program (CIC-TEP) is a network of CIC colleges and universities willing to accept, tuition-free, students from families of full-time employees of other CIC-TEP institutions.  Through this program, Gannon's Tuition Exchange Program offers three tuition awards each year to new undergraduate students.

Gannon University reserves the right to adjust all University Grants, Scholarships or other Gannon Funds, including Diocesan Grants, if the student recipient receives additional Grants, Scholarships or Tuition Assistance from any other internal or external source.