What kinds of financial aid are offered at Mercersburg? 

We offer three types of financial aid: need-based, merit-based, and remission. Need-based grants are awarded based on a family’s financial information. Merit scholarships recognize a student’s academic achievements, and standardized test scores are required for consideration. Remission is available exclusively to dependents of our faculty and staff. The majority of our financial aid recipients receive need-based support.

A significant portion of our financial aid program is made possible by our generous endowment, which includes more than 190 named scholarships and six access scholarships specifically designated for financial aid.

What is the total amount of financial aid awarded?

Last year, we awarded $11.2 million in financial aid: need-based, merit-based, and remission combined.

How many students receive financial aid?

Excluding remission, 38 percent (178 students) of our student body receive financial aid. With remission, 49 percent (220 students) receive financial aid. 

What is remission?

Remission is an employee benefit, covering the cost of day student tuition for full-time staff and faculty. 

A significant
portion of our financial aid program is made possible by our generous endowment, which includes more than 190 named scholarships and
six access scholarships specifically designated for financial aid.”

Michael Galindo, Director of Financial Aid and Associate Director of Admission

What is the average financial aid award per student?

The average award for boarding and day combined is $51,809. For boarding, the average is $54,335, and the day average is $37,778.
 

How does a family apply for financial aid?

It’s a really simple process. Families apply through Clarity, a third-party platform, and the application process takes only 15-20 minutes to complete. Once submitted, Clarity automatically connects with the IRS to pull the family’s tax transcripts, including their 1040 and W-2 forms.

Occasionally, we may request additional documents, such as business tax returns (Forms 1065, 1120S, and K-1) or international income verification—this could include bank statements, salary verification, or non-U.S. tax filings.

There are multiple ways to support and invest in financial aid. The school’s top giving priority each year is the Mercersburg Annual Fund, which covers approximately 10 percent of the operating budget. Annual Fund gifts can be designated to support financial aid.”

John Richardson, Chief Advancement Officer
 

How are financial aid awards determined?

Clarity requires families to provide detailed information about their income, taxes, core and out-of-pocket expenses, assets, liabilities, and more. Sometimes, automated or manual adjustments are made to account for the cost of living (COLA) in a family’s city or region and the number of tuition-charging schools a family supports. Once everything is submitted and verified by the IRS, our office calculates what a family can reasonably contribute toward tuition. Typically, we ask families to contribute at least 35 percent of their discretionary income.

If there’s ever a question about a family’s financial aid application, we pick up the phone and call them directly. Every family’s situation is unique, and we truly believe that a personal approach to financial aid is the best way forward. No two applications are ever the same.
 

Many of the terms you mentioned are ones colleges use.

We use the exact same terminology—terms like Estimated Family Contribution (EFC), discretionary income, and tax transcripts. Every financial aid office, no matter where you go, relies on these same terms and documents to determine how they’re going to allocate financial aid awards. While each school may have its own specific approach or set of priorities, the underlying method is essentially the same across the board. They all work with the same data and follow the same process to figure out what aid to offer.
 

How have our financial aid award packages stayed in line with tuition increases? Have you noticed any trends?

We do our best to keep both the percentage and the overall cost that families are paying relatively consistent from year to year, as long as their financial situation remains the same. As tuition continues to rise, it’s highly likely that their financial aid award will increase as well, to help offset the growing cost.

Since tuition has risen to nearly $80,000, we’ve noticed that families who might have once been able to afford a Mercersburg education are now seeking financial aid. It’s definitely a reflection of the increasing financial pressures and uncertainty many are facing, and we are committed to ensuring that all families have access to the support they need to continue their education here. 
 

How can donors invest in financial aid?

There are multiple ways to support and invest in financial aid. The school’s top giving priority each year is the Mercersburg Annual Fund, which covers approximately 10 percent of the operating budget. Annual Fund gifts can be designated to support financial aid.

Endowing our financial aid resources is also one of the four priorities in our latest strategic design. Currently, 40 percent of our financial budget comes from endowed funds that are restricted for financial aid. Our goal is to increase that to approximately 60 percent by raising $60 million for our financial aid endowment over the next 10 years. Supporting an endowed fund that provides scholarships is another way to invest in financial aid.

To learn more about establishing an endowed fund in support of scholarships or to make a gift in support of financial aid, please contact John Richardson, our chief advancement officer, at 717-328-6109 or richardsonj@mercersburg.edu.
 

What else should people know about our financial aid program?

We offer a wide range of financial aid packages to help make a Mercersburg education more accessible. Last year, our financial aid ranged from 7 percent to 100 percent of the cost of tuition, depending on each family’s unique circumstances. We’ve had many conversations with families who are concerned about the high cost of tuition, and we always encourage them to apply for financial aid through Clarity. The application is quick, straightforward, and simple—and you never know what kind of aid you could be awarded. It’s always worth applying to see what support might be available.