The Financial Aid team exists to help students access the funding they need for their Mercy education. They evaluate student need, award federal and state aid, coordinate institutional scholarships and ensure students understand their funding packages. Experienced staff guides families through application processes, answers questions about payment options and adjusts awards when circumstances change. They maintain compliance with government regulations while keeping the student experience at the center of their work. The office serves as a resource throughout a student’s academic journey, helping resolve financial concerns that could otherwise interrupt their progress toward graduation. They serve as advocates who remove barriers to education.
We asked Jeff Streker, Executive Director of Financial Aid, about the work his team does to help Mercy students fund their education. He shares the most common questions they receive, why faculty and staff should refer students immediately when financial concerns arise and how they’ve become Mercy’s unofficial “Acronym Capital,” with over 50 abbreviations in daily use.
Q&A
What are the key responsibilities of your department?
Our department is very student focused. We spend a lot of time processing applications (such as the FAFSA) to determine eligibility for grants, loans, work-study and scholarships.
We also ensure compliance with complex federal and state regulations to maintain the institution’s funding eligibility. And we counsel students and families on financing options, financial aid and debt management.
And of course we disburse funds accurately to student accounts to cover tuition, fees and other expenses.
What does a typical day look like for your team?
No two days are exactly the same, but they almost always include:
- Counseling: Meeting with students to demystify their award letters and explore funding options.
- Processing: Navigating the technical side of aid — verifying data and ensuring every dollar is allocated correctly.
- Problem Solving: Helping families navigate unique financial circumstances or ‘special conditions’ that require a human touch beyond the standard form.
What are the most common questions your department receives?
Financial Aid primarily handles questions regarding timing, eligibility and regulatory requirements. The most frequent inquiries include:
- “When will I receive my funds?” This is our most common question. We walk students through the timeline from application to disbursement.
- “Why did my award change?” We explain how changes in enrollment, family income, or federal laws impact their aid.
- “Can I appeal my package?” We guide families through special circumstances if their current financial situation isn’t reflected on their tax forms.
- “What do these terms mean?” We demystify the language of aid, translating complex acronyms like FAFSA and SAI into plain English.
Our goal is to turn these technical questions into a clear roadmap for the student’s education.
What’s one thing you wish more people knew about your department?
I wish more people knew that we are advocates, not just “the money office.” While we spend a lot of time with spreadsheets and federal regulations, our core mission is student success.
Navigating financial aid can be incredibly stressful for families, and we see ourselves as counselors who help remove the barriers to their education. We don’t just process paperwork; we help students find a way forward when they think they’ve hit a dead end. We are here to turn “I can't afford this” into “Here is the plan to make this happen.”
Who should faculty, staff or students contact for assistance?
For Bronx & Manhattan: Monelle Hylaris; for Westchester: Paul Lorenzoni.
What’s one helpful tip from your area of expertise that you’d offer to fellow members of the Mercy community to help them thrive or simplify their day-to-day tasks?
My top tip for faculty and staff is: If a student mentions a financial struggle, refer them to us immediately. Financial issues rarely resolve themselves; they usually snowball.
You don’t need to know the solutions — you just need to know where to send them. Think of us as your partners in retention. By encouraging students to visit Financial Aid as soon as a red flag appears, we can often find a path forward before the situation impacts their academic performance or their ability to stay enrolled.
Do you have a fun fact or little-known insight about your office, department or the nature of your work that you would like to share with the Mercy community?
Our office is the unofficial “Acronym Capital” of the Mercy community. We’ve counted over 50 different abbreviations we use daily — it’s practically a second language! We’re always happy to provide a translation for anyone feeling lost in the “alphabet soup” of FAFSA and SAI.
