2023-2024 Undergraduate Academic Catalogue 
    
    May 27, 2024  
2023-2024 Undergraduate Academic Catalogue

Financial Aid



Application Process

Loyola maintains a strong commitment to helping make our Jesuit, private education affordable for accepted students and their families. We encourage you to review the timeline and application process for applying for financial aid as it varies by the type of student. Follow the appropriate process below to ensure you receive the maximum consideration for scholarships and financial aid.

Learn more here:

First-Year Domestic Applicants

For U.S. Citizens or Permanent Residents attending college for the first time.

Merit-Based Scholarships

All students are eligible to receive merit-based scholarships, and every student who completes an application for admission is automatically considered for merit scholarship funding. No separate application is required, and you will be notified of your merit scholarship at the time of admission.

Read additional information about merit-based scholarships.

Need-Based Financial Aid

Application Deadlines & Notification Dates

Fall First-Year Applicants
  Early Action Regular Decision
Financial Aid Application Deadline November 15 February 1
Financial Aid Notification February 1 Late March

Students who submit their FAFSA by the stated deadlines will receive their need-based financial aid package within two business days of their admission decision.

Spring First-Year Applicants

All Spring Admission applicants must apply by November 15 in order to receive their Financial Aid decision before the Dec. 15 deposit deadline.

How to Apply

Complete the 2023-24 Free Application for Federal Student Aid (FAFSA)

Complete the FAFSA online. You and your parent must have a FSA ID to electronically sign the FAFSA. Loyola University's FAFSA Code Number is 002078.

The best way to provide accurate income information on the FAFSA is by opting to use the Internal Revenue Service (IRS) Data Retrieval Tool (DRT). This process allows eligible applicants and parents to automatically transfer 2021 tax return information from the IRS to your FAFSA. It assures accuracy, saves time, and minimizes processing delays. DRT also significantly reduces the chances of your FAFSA being selected for verification by the Department of Education (ED) or Loyola. Students will be notified by both ED and the financial aid office if/when we need additional documents. 

Transfer Applicants

For U.S. Citizens or Permanent Residents transferring to Loyola from another college or university.

Merit-Based Scholarships

All students are eligible to receive merit-based scholarships, and every student who completes an application for admission is automatically considered for merit scholarship funding. No separate application is required, and you will be notified of your merit scholarship at the time of admission.

Read additional information about merit-based scholarships.

Need-Based Financial Aid

Application Deadlines & Notification Dates

Fall & Summer Transfer Applicants

  Priority Regular 
Financial Aid Application Deadline March 15 July 15
Financial Aid Notification Rolling Rolling
Spring Transfer Applicants

All Spring Admission applicants must apply by November 15 in order to receive their Financial Aid decision before the January 3 deposit deadline.

How to Apply

Complete the 2023-24 Free Application for Federal Student Aid (FAFSA)

Complete the FAFSA online. You and your parent must have a FSA ID to electronically sign the FAFSA.  Loyola University's FAFSA Code Number is 002078.

The best way to provide accurate income information on the FAFSA is by opting to use the Internal Revenue Service (IRS) Data Retrieval Tool (DRT). This process allows eligible applicants and parents to automatically transfer 2021 tax return information from the IRS to your FAFSA. It assures accuracy, saves time, and minimizes processing delays. DRT also significantly reduces the chances of your FAFSA being selected for verification by the Department of Education (ED) or Loyola. Students will be notified by both ED and the financial aid office if/when we need additional documents. Learn more about federal verification.

International Applicants

For international students attending college for the first time or transferring from another college or university.

Merit-Based Scholarships

All students are eligible to receive merit-based scholarships, and every student who completes an application for admission is automatically considered for merit scholarship funding. No separate application is required, and you will be notified of your merit scholarship at the time of admission.

Read additional information about merit-based scholarships.

Need-Based Financial Aid

How to Apply

As part of the need-aware review process, all international students must submit the International Student Certification of Finances form and a Bank Letter or Statement.

Students seeking consideration for need-based financial assistance are also required to submit the CSS Profile at the time of application. When completing the CSS Profile, Loyola University Maryland's CSS School Code Number is 5370. Please be aware that we may ask for further financial documentation per U.S. government regulations at a later date should you be admitted and choose to enroll. International students seeking additional financial assistance are also encouraged to contact local or international agencies in their home country.

Cost of Attendance

2023-24 Academic Year

First-Year On-Campus Cost of Attendance  
Tuition $55,480
Housing and Food $11,270
Student Health Insurance* $3,626
Additional Estimated, Unbilled Costs**  
Books and Supplies $800
Miscellaneous Personal Expenses $500

*The figure for the 2024-25 academic year will be available in May 2024.

**These amounts may increase or decrease depending on a student's personal spending habits.

Undocumented & DACA Applicants

For non-citizens living in the United States attending college for the first time or transferring from another college or university.

Merit-Based Scholarships

All students are eligible to receive merit-based scholarships, and every student who completes an application for admission is automatically considered for merit scholarship funding. No separate application is required, and you will be notified of your merit scholarship at the time of admission.

Read additional information about merit-based scholarships.

Need-Based Financial Aid

Undocumented and DACA students are considered for need-based financial like any other domestic student. Because federal financial aid is not available for undocumented and DACA students, Loyola provides institutional financial aid in its place.

Need-based awards are intended to supplement the amount that a student can pay in order to reach the full cost of attendance. Our need-based awards can cover up to the cost of full tuition, though these cases are extremely rare. Undocumented and DACA students will be considered for admission and institutional need-based financial assistance based upon a review of the academic qualifications, financial need, and availability of student aid resources. Loyola is unable to increase scholarship awards once they are allocated, and we are also unable to guarantee that we will meet 100% of a student's financial need.

Scholarship and need-based awards are renewable for the same amount for up to four years (eight semesters, fall and spring) provided the student maintains full-time enrollment, meets the minimum grade point average (GPA) and Satisfactory Academic Progress requirements.

Application Deadlines & Notification Dates

Fall Undocumented and DACA Applicants

  Early Action Regular Decision
Financial Aid Application Deadline November 15 February 1
Financial Aid Notification February 1 Late March

Spring Undocumented & DACA Applicants

All Spring Admission applicants must apply by November 15 in order to receive their Financial Aid decision before the January 3 deposit deadline.

How to Apply

Complete the 2023-24 CSS Profile Application

Complete the Profile online at https://cssprofile.org. Loyola University's CSS Code Number is 5370. While filling out the application, you will most likely encounter a pop-up on the site indicating Loyola does not accept this application. Please bypass all warnings and continue to complete and submit the application.

Check out the CSS Profile Student Guide for more complete information on the Profile completion process. CSS Profile Customer Support can be reached at 844-202-0524 or the College Board's contact us page.

Loyola will request your 2022 Federal Tax Return and your parents' 2022 Federal Tax Return information to verify the financial information reported on the CSS Profile application. After you file the CSS Profile Application, Loyola will email you instructions for submitting your Federal Tax Return forms.

Maryland State Financial Aid Application (MSFAA)

Maryland applicants who are ineligible to receive federal aid using the Free Application for Federal Student Aid (FAFSA), can apply for various state financial aid grants and scholarships through the Maryland State Financial Aid Application (MSFAA)

Returning Students

For all current undergraduate students returning to Loyola (sophomores, juniors, seniors, etc.)

Merit, Athletic, and Non-Need-Based Grant Aid

Students receiving the following awards and who are not interested in applying for need-based grants, loans, and work study are not required to complete the FAFSA for renewal: Presidential Scholarship, Dean's Scholarship, Loyola Scholarship, Loyola Transfer Scholarship, Athletic Grants, Baltimore Diocesan Grant, Community College Grant, Evergreen Grant, Evergreen Community Grant, Family Grant, Legacy Grant, Magis Grant, and Phi Theta Kappa Grant. These awards are automatically renewed for students meeting the retention requirements.

Need-Based Financial Aid

Students must complete the FAFSA every year to be considered for aid from any of the following programs: Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Work-Study, Federal Direct Student Loans (subsidized and unsubsidized), Federal Direct Parent PLUS Loan, Maryland Educational Assistance Grant, Maryland Guaranteed Access Grant, and Loyola Grant.

2023-24 Free Application for Federal Student Aid (FAFSA)

Beginning with the 2022-23 academic year, Loyola no longer requires students who are U.S. citizens or eligible noncitizens to complete the CSS Profile.

Complete the FAFSA online using your FSA ID. Loyola University's FAFSA Code Number is 002078.

The deadline to complete the FAFSA is April 1. (Maryland Residents must file the FAFSA by March 1 for consideration of Maryland State grant assistance). 

The best way to provide accurate income information on the FAFSA is by opting to use the IRS Data Retrieval Tool (DRT). This process allows eligible applicants and parents to automatically transfer tax return data from the IRS to your FAFSA. It assures accuracy, saves time, and minimizes processing delays. DRT also significantly reduces the chances of your FAFSA being selected for federal verification by the Department of Education (ED) or Loyola. Students who are selected for verification will be notified by both the financial aid office and ED if/when they need to provide additional documentation. Learn more about federal verification.

New Applicants (Students who have not filed a FAFSA for a previous academic year.)

Students and parents will need to create a FSA ID to complete the FAFSA. The FSA ID is a username and password combination that serves as your legal signature. It is also required to log in to U.S. Department of Education online systems. For assistance, please refer to the Creating and Using Your FSA ID fact sheet.

Need-Based Financial Aid Deadline

Students are strongly encouraged to meet the April 1 deadline for maximum consideration for all forms of need-based financial assistance. The funds available through the federal campus-based student aid programs (FSEOG and Federal Work Study) and Loyola's institutionally funded need-based grant program are limited. Late awards are not guaranteed and will be made on a funds available basis.

  • FAFSA applications submitted between June 15 and June 30 - Up to 90% calculated Loyola grant eligibility.
  • FAFSA applications submitted between July 1 and July 31 - Up to 80% calculated Loyola grant eligibility.
  • FAFSA applications submitted between August 1 and August 31 - Up to 70% calculated Loyola grant eligibility.
  • FAFSA applications submitted after August 31 - Up to 60% calculated Loyola grant eligibility.

Satisfactory Academic Progress

Students must be making Satisfactory Academic Progress (SAP) to receive federal, state, and Loyola need-based aid. SAP is defined as the successful completion of coursework toward your degree. The federal government requires the Office of Financial Aid to monitor SAP to ensure financial aid recipients make progress toward graduation.

Loyola Merit & Non-Need-Based Grant Retention Policy

Students receiving Loyola merit awards and Loyola non-need-based grants must meet enrollment and cumulative GPA retention requirements for renewal.

Financial Aid Eligibility Notification

Financial aid packages will be available via Self-Service by June 15. Students will be directed to Self-Service via your Loyola email account when your award is ready. Students selected for verification and/or are required to submit additional documentation as requested by the Office of Financial Aid will not be packaged until all required information is received. Monitor your financial aid self-service checklist and your Loyola email account to ensure your file is complete.

Loyola Programs

Merit-Scholarships Offered by the Office of Undergraduate Admission

All students (first-year, transfer, and international) are eligible to receive merit-based scholarships, and every student who completes an application for admission is automatically considered for merit scholarship funding. No separate application is required, and students will be notified of their merit scholarship at the time of admission.

Merit-based Scholarships for First-Year Students

Academic scholarships are reserved for entering first-year students and are awarded for four years (8 semesters), provided the student maintains the GPA requirements provided with the award at the time of admission. These scholarships provide financial assistance to students with strong academic ability and achievement and are awarded based on a student's GPA, course selection, and test scores (if submitted). As a test-optional school, SAT/ACT scores are not required for consideration but will be reviewed if provided by the applicant during the admission process. Academic scholarship awards can only be applied toward tuition charges and are equally split between the fall and spring semesters.

Award ranges and retention criteria for the various scholarships are listed below:

Presidential Scholarship

  • Scholarship award range for the 2023-24 academic year: $33,000 - $35,000
  • Retention criteria: Full-time Enrollment (12 credits), Minimum Cumulative Grade Point Average (CGPA): 2.0

Dean's Scholarship

  • Scholarship award range for the 2023-24 academic year: $28,000 - $30,000
  • Retention criteria: Full-time Enrollment (12 credits), Minimum Cumulative Grade Point Average (CGPA): 2.0

Loyola Scholarship

  • Scholarship award range for the 2023-24 academic year: $24,000 - $25,000
  • Retention criteria: Full-time Enrollment (12 credits), Minimum Cumulative Grade Point Average (CGPA): 2.0

Merit-based Scholarships for Transfer Students

Transfer scholarships are awarded on a competitive basis to students with strong academic records. These awards are renewable for up to four academic years (8 semesters) of full-time undergraduate study. Students will automatically be considered for merit scholarships with their application for transfer admission. Academic scholarship awards can only be applied toward tuition charges and are equally split between the fall and spring semesters.

Loyola Transfer Scholarship

  • Scholarship award range for the 2023-24 academic year: $24,000 - $33,000
  • Retention criteria: Full-time Enrollment (12 credits), Minimum Cumulative Grade Point Average (CGPA): 2.0

Merit-based Scholarships Administered by the Office of Financial Aid

Mount Saint Agnes/Sisters of Mercy Scholarship

The Mount Saint Agnes Alumnae Association funds an annual scholarship for high school seniors applying to Loyola University Maryland.  High school seniors who are direct descendants or nieces or nephews of Mount Saint Agnes alumnae are eligible to apply as well as current seniors attending a Mercy-affiliated high school.  The scholarship application deadline is April 1.

Marion Burk Knott Scholarship

Named in honor of his wife, the Marion Burk Knott Scholarships are made possible by a generous gift to the Archdiocese of Baltimore from Henry J. Knott, Baltimore businessman and philanthropist. These scholarships are four-year, full-tuition awards available on a competitive basis to Catholic students residing in the Archdiocese of Baltimore. Scholarships are limited to incoming first-year students who, in the judgment of the Scholarship Committee, are most deserving of assistance because of academic merit. Additional consideration is given to students demonstrating financial need. To be considered for a Marion Burk Knott Scholarship, a student must apply for admission to Loyola by January 15.

The Maguire Scholars Program Scholarship

The Maguire Foundation will provide "last dollar" scholarship support to students graduating from an eligible Philadelphia area high schools for four years of matriculation. Maguire Scholars who are selected by their respective institutions must maintain a minimum cumulative GPA of 3.000 or higher. The student also must be an active participant in their school through extra-curricular activities and/or community service. The Loyola University Maryland Maguire College Scholars application deadline is April 1.

Loyola CPaMs Scholars Program

The CPaMS Scholars Program provides scholarships of up to $10,000 annually for academically talented students who demonstrate financial need to study computer science, physics, mathematics, statistics, or data science at Loyola University Maryland.

Loyola Grants

Non-Need Based Grants

Athletic Grant

Baltimore Diocesan Grant

Community College Grant

Evergreen Grant and Evergreen Community Grant 

Family Grant

Legacy Grant

Loyola TAM Grant

Magis Grant 

Phi Theta Kappa Grant

Need-Based Grant

Charm City Pell Promise Grant

Loyola Grant

Loyola Endowed/Privately Funded Scholarships

The Office of Financial Aid administers a limited number of endowed and privately funded scholarships for qualified sophomores, juniors, and seniors. Members of the senior class are given priority in the evaluation process. Students are evaluated on academic performance, co-curricular activities, awards and honors, and other criteria as specified by the donor or the sponsor of the fund. Recipients are typically notified by the fall semester.

To be considered, students are encouraged to complete the General Scholarship Application. By completing the application, students are certifying that the information provided is true and accurate to the best of their knowledge and are also giving Loyola's Office of Financial Aid permission to share this information with endowed scholarship donors and private scholarship sponsors.

Note: The receipt of a privately funded or endowed scholarship may result in an adjustment in your current financial aid package. All scholarship awards must be considered an additional resource in meeting a student's demonstrated financial need.

Loyola Endowed Scholarship Funds

The following scholarship funds have been established and named in honor of friends and families of the Loyola community. Awards from these funds are made to students selected by the Office of Financial Aid according to criteria specified by the scholarship donor. Loyola University Maryland expresses its sincere appreciation to these individuals, families, and groups for their generous assistance to many deserving students.

Carol Nevin "Sue" Abromaitis Catholic Studies Scholarship

Michael J. Abromaitis, '62 Men's Lacrosse Scholarship

Alpha Sigma Nu Scholarship Fund

Alumni Association Scholarship Endowment Fund

Stephen Alvarez, '91, Memorial Endowed Fund for Study Abroad Students

American Citizens for Italian Matters Scholarship Fund

The Armiger Family Scholarship Fund

Stuart W. and Joanna Armiger Edwards Scholarship Fund

Associated Italian American Charities Scholarship Fund

Rita Corasaniti Ayd Scholarship Fund

Rita C. and Frank J. Ayd, Jr., M.D., Fellowship Fund

Claudia Northrop Bailey Scholarship Fund

Ralph E. Bailey Family Scholarship Fund

George and Jane Baker Scholarship Fund

Johnny Bass Endowed Scholarship Fund

John and Elizabeth Dodson Bodrozic Entrepreneurship and Innovation Scholarship Fund

Boehl Family Scholarship Fund

Ellen T. Bogue Scholarship Fund

Marjorie W. Bookhout Scholarship Fund

The Bozzuto Group Endowed Business Leader of the Year Scholarship Fund

Phyllis B. Brotman Memorial Scholarship Fund

Stephanie Raphel Brown Memorial Scholarship

Margaret H. Bruder and Margaret E. Harron Scholarship

William Ambrose Burke III, '82, MBA '85 and Cindy M. Burke Scholarship Fund for International Studies

Linda Schaefer Cameron, EMBA '03 Scholarship

Gerard F. Case, Jr. Memorial Scholarship Fund

Anna R. and Michael R. Cataneo Scholarship Fund

John and Agnes Caulfield Scholarship

Barbara and Bob Cawley Family Scholarship Fund

Francis P. Chiaramonte, M.D. Scholarship

Sister Helen Christensen Athletic Scholarship

Charles J. Cirelli and Son Scholarship Fund

Edward O. and Penny R. Clarke Scholarship

Clarke Preministerial Fund

Class of 1999 Scholarship Fund

Class of 2000 Scholarship Fund

Class of 2002 Scholarship Fund

Class of 2007 Diversity Scholarship Endowment

Class of 2009 Scholarship Endowment

Class of 2011 Scholarship Fund

Cochran Family Scholarship Fund

Donald E. Cohill Commuter Scholarship Fund

Reverend John M. Comey, S.J. Scholarship Fund

George and Eugene Conner Scholarship Fund

Lawrence and Carolyn Conway Scholarship Fund

Corporate Office Properties Trust Business Leader of the Year Scholarship Fund

Patrick J. and Winifred L. Coughlin Scholarship Fund

Linda A. Cronin, '92 Memorial Scholarship

Cross Country Alumni Scholarship

Frank W. and Florence B. Cuccia Memorial Scholarship Fund

Cunnion Family Fellowship in Education

Jan and Bill Davis Scholarship Fund

Ralph A. DeChiaro Endowed Scholarship Fund

DeSantis Family Scholarship

Dickerson Family Scholarship

Didusch Memorial Fund

Erik R. Dietzel Memorial Scholarship Fund

Charles C. Diggs Jr., '69 Ph.D. Memorial Fellowship Fund

Dircks Family Men's Lacrosse Scholarship Fund

Discover Your Destiny Scholarship

Walter B. Doggett III Accounting Fellowship Fund

Donovan Family Scholarship

Doyle Family Endowed Scholarship Fund

Dunbar Family Fellowship

H.A.B. Dunning Foundation Fund

Kenneth H. Ekin Endowed Scholarship Fund

Eloquentia Perfecta Scholarship

Empowering Baltimore Youth Scholarship Fund

Christine Everitt Scholarship Fund

Francis P. and Eleanor R. Fairbank Scholarship Fund

Duard L. and Mary L. Ferguson Scholarship Fund

Miguel B. Fernandez Family Foundation Scholarship Fund

William and Mary Fisher Scholarship Fund

Ford Foundation Fund

France-Merrick Foundation Scholarship Fund

George R. Frank Legacy Fund

Fredericks Family Scholarship Fund

Timothy J. Galla Memorial Scholarship

McKenzie R. Gaw, '18 Endowed Scholarship

Geraldine Johnson Geckle Scholarship

Hanna Geldrich-Leffman Scholarship Fund

Isaac S. and Mary Josephine George Fund

Diane Geppi-Aikens Women's Lacrosse Scholarship Fund

Bernardo and Doris Gigliotti Scholarship

Faith D. Gilroy Fellowship Fund

Aurora Granofsky Scholarship Fund

Mannes Greenberg Memorial Scholarship Fund

Maurice R. Greenberg Scholarship Fund

Alan and Mary Greenblatt Endowed Scholarship Fund

Greyhounds Track & Field Alumnae Scholarship

Grillo Family Fellowship

Elaine and Anthony Grillo Endowed Scholarship in Education

Fred Grimmel Memorial Scholarship Fund

Grzymski Family Scholarship Fund

Adelaide M. Gunther Fund

Alexander M. Haig, Jr., Hauber Fellowship

Jere O. Hamill Endowed Scholarship Fund

Michael & Ann Hankin/Brown Advisory Business Leader of the Year Scholarship

Hanway Family Scholarship

Mary A. Dudas Harris Fund

Rev. Gregory Hartley, S.J. Memorial Scholarship Fund

Hauber Physics Fellowship

Hauber Scholars Fund in honor of Dr. Robert Pond, Jr., Natural and Applied Sciences

Emily Cotter Hauze Memorial Scholarship Fund

Joseph M. Healy Memorial Scholarship Fund

William Randolph Hearst Foundation Scholarship Fund

Herget Foundation Scholarship Fund

Hinkey-Benson Family Scholarship Fund

William J. Holman Scholarship Fund

Holthaus Family Scholarship Fund

Holthaus Family Athletic Scholarship Fund

Leonard and Gwynne Horwits Endowed Scholarship Fund

Mary B. and Sigmund M. Hyman Scholarship Fund

Sigmund M. and Mary B. Hyman Fellowship Fund

Sigmund M. and Mary B. Hyman Fund in the Natural and Applied Sciences

Sigmund M. and Mary B. Hyman Summer Fellows Fund

Thomas and Jacqueline Iacoboni Scholarship

Ingersoll Family Scholarship

Nina Irvin Fund

The Irwin Foundation Scholarship

Jennings Family International Summer Research Scholarship for Undergraduates

Jesuit Community Scholarship Fund

John Jordan Economics Scholarship Fund

Joseph Scholarship Fund

Carl T. Julio Scholarship

Kaiser Family Scholarship Fund

Therese and John Karl Endowed Scholarship in Elementary Education

Kashlak Family Scholarship Fund

James and Nora Keelty Memorial Scholarship Fund

Kelly Family Athletic Scholarship

J. Russell Kimmel Scholarship Fund

Louis H. and Judith R. Kistner Scholarship

Henry Knott Scholarship Fund

Marion Burk Knott Scholarship Fund

Marion I. and Henry J. Knott Scholarship Fund

Kollman Family Scholarship Endowment

Stanley "Stan" Koziol Memorial Scholarship

Kroneberger Family Scholarship

Susanna M. Lackey Fund

Alice M. Lage Memorial Fund

Bernard and Alexandra Lajoux Scholarship

Anna and James Lambdin Fellowship Fund

Ann Lambdin Beetz Huntington's Disease Memorial Fellowship Fund for Speech-Language-Hearing Sciences

John Joseph Langan, Jr., '59 and Mary Ann Barlow Langan Scholarship Fund

Edward H. Latchford Scholarship Fund

Latchford Family Scholarship

Thomas J. Lawler Scholarship Fund

Patrick P. Lee Foundation Fellowship Fund

Legg Mason Business Leader of the Year Scholarship

Mary T. and Joseph M. Linnane Scholarship Fund

Francis E. Litz, Sr. Memorial Scholarship

Mary and Daniel Loughran Scholarship Fund

William and Laura Lowe Hauber Summer Research Fund

Maguire Scholars Program Endowment

Helen Pise Malko Memorial Scholarship Fund

Nick and Mary Mangione Scholarship Endowment Fund

Mary C. and Nicholas B. Mangione, Sr. Family Athletic Scholarship

Thomas and Mary Marcin Scholarship Fund

McCartney Family Scholarship Fund

McCormick & Company, Inc. Scholarship

McCormick & Company, Inc., Business Leader of the Year Scholarship

John McFadden Family Endowed Scholarship Fund

McGonigle Family Endowed Scholarship Fund

McGrath Family Scholarship

Dr. Daniel M. McGuiness Scholarship Fund

Drs. Daniel M. and Ilona M. McGuiness Scholarship Fund

The Rev. Daniel J. McGuire, S.J. Fund

George W. McManus, Jr. Scholarship

Men's Lacrosse Alumni Scholarship Fund

Mercy Health Services Business Leader of the Year Scholarship

Anne M. Merrick Scholarship Fund

Merrill Trust Theology Graduate Fellowship

Joseph Meyerhoff Scholarship Fund

George W. Mitchell Fund

John R. Mohler Scholarship Fund

Monahan Endowed Scholarship Fund

Moriconi Family Soccer Scholarship Fund

Mount Saint Agnes College Scholarship Fund

Mount Saint Agnes College Class of 1965 Scholarship

Thomas Murphy, Jr. Scholarship Fund

Kelly Murray Memorial Fund

Louis A. and Josephine Natale Scholarship Fund

Ness Family Endowed Scholarship

Donald F. Obrecht Scholarship Fund

Frank and Betty Otenasak Memorial Scholarship

David and Diana Owens Science and Engineering Scholarship

Mary E. Pabst, MS, Ph.D., RN Fellowship Fund

Antoinette Paterakis Lambros and John Paterakis, Sr. Endowed Scholarship Fund

Jimi Patrick, '20 Memorial Scholarship Fund

Perna Family Scholarship

Gerard and Mary Perseghin Scholarship

Ronald R. Peterson Business Leader of the Year Scholarship

Michael T. Petrash Rising Scholar Scholarship Fund

Paul P. Plevyak, Father & Son Scholarship Fund

Quirk Family Scholarship

Raab Scholarship Fund

Veronica K. Rachuba Memorial Quasi Endowed Scholarship

Nancy M. and G. Edward Reahl, Jr. Scholarship Fund

Joseph A. and Patricia A. Reiter Endowed Scholarship Fund

Lefty and Marge Reitz Scholarship

Hon. Barry D. Richmond Scholarship Fund

Ridle and Mahoney Scholarship Fund

Father Ridley Memorial Scholarship

William C. Rogers, Sr. Scholarship Fund

Renee LaBoda Rosch, MSA '62 Scholarship Fund

Rosinsky Family Scholarship Fund

Ruane Family Scholarship

Bernard A. Saltysiak Memorial Endowment Fund

Joseph G. Schaffner, Sr. Scholarship Fund

Joseph M. Scharfenberger Family Endowed Scholarship

Lily and Christine Sehn Scholarship

Sellinger Graduate Alumni Fellowship

Reverend Joseph A. Sellinger, S.J., Memorial Scholarship

Joseph A. Sellinger, S.J./Bank of America Scholarship Fund

Senker Family Scholarship Fund

Thomas B. and Elizabeth M. Sheridan Foundation Scholarship

Skesavage Family Athletic Scholarship Fund

Spillane Family Endowed Scholarship Fund

Michael D. Sullivan Scholarship Fund

Ralph C. Wright and Ingrid M. Sunzenauer Fine Arts Scholarship

T. Rowe Price Business Leader of the Year Scholarship

Thompson Seminary Scholarship

Helen and Charles Toennies Memorial Scholarship Fund

Transamerica Scholarship Fund

Transamerica Scholarship for Women in Business Scholarship Fund

Andrew H. and Lillian H. Trost Memorial Scholarship

Truitt-Tilghman Family Endowed Scholarship Fund

Tuohy Family Men's Basketball Scholarship

Robert Jay Turner Memorial Scholarship Fund

Doris Van Doren Scholarship Fund

Vintz Family Scholarship

Gladys J. Vocci Justice and Frank J. Vocci '49 Scholarship Fund

Waesche Family Scholarship Fund

Judith Ann Walsh Scholarship Fund

James & Patricia Werther Scholarship Fund for International Study

Dan and Kathy White Scholarship

James E. and Carol White Endowed Merit Scholarship

Hans Wilhelmsen, M.D., DDS, '52 and Leah Wilhelmsen President's Endowed Scholarship Fund

Wipf Family Scholarship Fund

Colleen J. Zirkle, '16, Memorial Scholarship

Federal Programs

Federal Grant Programs

Federal Pell Grant

The Federal Pell Grant program is the largest federal need-based grant program, providing assistance to undergraduate students who are enrolled in a degree or certificate program and have not received their first bachelor's degree. Students must complete the FAFSA and demonstrate exceptional need to be considered. The amount awarded depends on your Expected Family Contribution (EFC), cost of attendance, enrollment status, and your plans to attend school for a full academic year or less.

Federal Supplemental Educational Opportunity Grant (FSEOG)

The FSEOG program is a federal campus-based program administered directly by the Loyola Office of Financial Aid. To be considered, students must complete the FAFSA. Priority is given to Pell Grant recipients with the highest demonstrated financial need. At Loyola, awards typically range from $500 to $1,000 a year.

Federal Work-Study Program (FWS)

Federal Work-Study provides part-time jobs for students who complete the FAFSA and demonstrate financial need. At Loyola, students must also be enrolled full-time in a degree-seeking program. The FWS program offers valuable work experience and encourages community service work and work related to the student's course of study. The program also offers flexibility to work around the student's class schedule.

Federal TEACH Grant

The Teacher Education Assistance for College and Higher Education (TEACH) Grant program provides up to $4,000 per year in non-need-based grants for undergraduate students who must, in turn, teach full-time in high-need subject areas for at least four years at schools that serve students from low-income families. Students may receive up to $16,000 for undergraduate study. Part-time students are eligible, but the maximum grant will be reduced. Failure to complete the teaching obligation will cause the TEACH Grant to be permanently converted to a Federal Direct Unsubsidized Loan with interest accrued from the date the grant funds were first disbursed. Once a grant is converted to a loan, it cannot be converted back to a grant.

Current legislation has identified the following as meeting the definition of a high-need subject area for the TEACH Grant Program: Bilingual Education and English Language Acquisition; Foreign Language; Mathematics; Reading Specialist; Science; and Special Education.

Learn more about the TEACH Grant Program, https://studentaid.gov/understand-aid/types/grants/teach.

Federal DVA Yellow Ribbon Program

Loyola University Maryland participates in the Yellow Ribbon GI Education Enhancement Program (Yellow Ribbon Program).

Students entitled to receive 100% benefits payable under the Post-9/11 GI Bill program may be eligible to participate in the Yellow Ribbon Program. The Yellow Ribbon Program applies to tuition and mandatory fees. The Post-9/11 GI Bill® provides for room, board, books and supplies separately. Eligibility is determined by the Department of Veterans Affairs (VA).

The Yellow Ribbon Program allows Loyola to have a matching agreement with the Department of Veterans Affairs (DVA) to pay veterans' tuition and fee costs above those covered by the GI Bill ® benefit. The maximum tuition and fees benefit available for the 2023-24 academic year is $27,120.05. Under the Yellow Ribbon Program, a student's remaining tuition and fees are covered one-half by Loyola University and one-half by the DVA. 

Students who qualify for the 100% maximum tuition benefit through Yellow Ribbon and the Loyola and DVA matching grants will forfeit Loyola funded merit, non-need-based and need-based grants previously awarded or for which they would otherwise be considered. Students receiving partial benefits may also experience a change in institutionally funded awards.

Learn more about VA benefits at Loyola University Maryland, https://www.loyola.edu/department/records/veterans-info.

GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. government website at www.benefits.va.gov/gibill.

Federal Employment Program

The William D. Ford Federal Direct Loan (Direct Loan) Program is a federal student loan program under which eligible students and parents borrow directly from the U.S. Department of Education. Direct Subsidized Loans, Direct Unsubsidized Loans and Direct PLUS loans are types of Direct Loans.

Direct Subsidized Loans

Direct Subsidized Loans are loans made to eligible undergraduate students who are enrolled at least half time and who demonstrate financial need. You will be required to pay the loan with interest. The rate is fixed so it will not change for the life of the loan. The interest rate for loans first disbursed July 1, 2023 through June 30, 2024 is 5.05 percent.

The U.S. Department of Education pays the interest on a Direct Subsidized Loan:

  • while you are in school at least half-time (6 or more credits)
  • for the first six months after you leave school (grace period)
  • during a period of deferment (a postponement of loan payments)

Learn more about Direct Subsidized Loans.

Direct Unsubsidized Loans

Direct Unsubsidized Loans are not based on financial need. Like Direct Subsidized Loans, you will be required to pay the loan with interest. The rate is fixed so it will not change for the life of the loan. The interest rate for loans first disbursed July 1, 2023 through June 30, 2024 is 5.05 percent.

Unlike Direct Subsidized Loans, you are responsible for paying the interest. If you choose not to pay interest while you are in school and during grace periods and deferment or forbearance periods, you interest will accrue (accumulate) and be capitalized (interest will be added to the principal amount of your loan).

Learn more about Unsubsidized Direct Loans.

If it is your first time receiving a Subsidized or Unsubsidized Direct Loan, you will be required to

Direct PLUS Loans

Direct PLUS Loans (parent PLUS loan) are made to parents of dependent undergraduate students to help pay for education expense not covered by other financial aid. The maximum amount you can receive is the cost of attendance minus your student's financial aid. Eligibility is not based on financial need, but a credit check is required. Borrowers who have an adverse credit history must meet additional requirements to qualify.

For Direct PLUS Loans first disbursed on or after July 1, 2023, and before July 1, 2024, the interest rate is 8.05%. This is a fixed interest rate for the life of the loan.

If you do not request a deferment, you will be expected to begin making payments after the loan is fully disbursed (paid out). If you request a deferment, you will not need to make payments while your child is enrolled at least half-time and for an additional six months after your child graduates, leaves school, or drops below half-time enrollment. During any period when you're not required to make payments, interest will accrue on your loan. You may choose to pay the accrued interest or allow the interest to be capitalized (added to your loan principal balance) when you have to start making payments. Your loan servicer will notify you when your first payment is due.

Learn more about Direct PLUS Loans.

Private Alternative Education Loans

Private educational loan programs are non-federal loans issued by banks, savings and loan associations, and credit unions. These programs allow students to borrow up to the full cost of attendance* minus other forms of financial aid. Most students will need a creditworthy co-signer such as a parent or other relative in order to obtain a private loan. Private educational loans carry both fixed and variable interest rates based on the LIBOR rate or the Prime rate and repayment periods may range from 5 to 25 years. Interest rates, origination fees, loan maximums, and repayment terms should be carefully considered when researching and choosing a private loan.

Because each family's financial circumstances will differ, Loyola University is unable to recommend a specific program that will best suit an individual family's needs.  Before you decide to borrow, carefully investigate all of your options.  Make sure that you understand the application procedures, eligibility criteria, interest rate and processing fees, disbursement procedures, and repayment terms for each program you are considering.

Private alternative education loans should only be considered after eligibility for all federal student and parent loan options has been determined.

Once an application is approved by a lender, the school will receive an electronic certification request. The proceeds of private alternative education loans may not be credited to a student's account until the funds are received by the University. Therefore, if the loan proceeds will be used to pay a remaining balance due, the loan application process should be completed well in advance of the bill payment due date.

Loyola University does not maintain a preferred lender list for private alternative education loans, nor are we able to recommend specific lenders. However, over the last several years, our students and parents have used the lenders listed in ELM Select to meet their education loan borrowing needs.  Using ELM Select, a service provided by ELM Resources, students and parents can compare and contrast the terms and conditions of each loan option and select a private educational loan that best suits their financial circumstances.  Students are not limited to the lenders appearing on the ELM Select list and may choose any lender that best suits their educational borrowing needs.   

The Project on Student Debt, an initiative of the Institute for College Access & Success, a nonprofit independent research and policy organization, offers sound advice and information to consider when applying for a private alternative educational loan.

*A college's cost of attendance includes actual tuition, room and standard allowances for meal service, books and supplies, transportation, and personal expenses.

 

Maryland State Grant & Scholarship Programs

The Office of Student Financial Assistance (OSFA) at the Maryland Higher Education Commission (MHEC) provides a variety of state grants, scholarships, and loan assistance repayment programs for eligible Maryland residents. Visit the MHEC site for a complete list of programs and application requirements, https://mhec.maryland.gov/preparing/Pages/FinancialAid/index.aspx

National Fellowships and Scholarships

The National Fellowships Office assists Loyola undergraduate students, graduate students, and alumni in finding and applying for competitive fellowships, scholarships, summer programs, and awards. A list can be found at, https://www.loyola.edu/department/national-fellowships.

For additional information, contact nationalfellowships@loyola.edu.

Army ROTC Scholarships

The U.S. Army is interested in selecting the best candidates for scholarships and ultimately commissioning as the future officer leadership of the U.S. Army. ROTC scholarships cover full tuition, fees, books and supplies. Recipients also receive a tax-free subsistence allowance each month that the recipient attends classes (up to 10 months each year): $420 per month. Students who are awarded an ROTC Scholarship in their senior year of high school also receive additional grant assistance funded by Loyola University. This grant is renewed each year a cadet retains eligibility for the ROTC Scholarship.

In addition to the ROTC national scholarship (applied for during a student's senior year of high school), students may compete for a three- or four-year scholarship during their first year of college. Sophomores may compete for a two- or three-year scholarship and juniors may apply for a two-year scholarship. Students must be enrolled in a military science class in order to compete for a campus-based scholarship. Campus-based scholarships cover the same expenses as the national scholarships. Students who are awarded the campus-based scholarship qualify for additional grant assistance funded by Loyola University.

The Army ROTC program provides an academically integrated curriculum intended to train college students as officers for the United States Army. Through military science, a student gains pertinent leadership and management skills while earning a college degree. ROTC cadets may pursue any course of study.

For additional information, please call or write Loyola's department of military science at:

Department of Military Science
Loyola University Maryland
4501 N. Charles St.
Baltimore, MD 21210-2699
410-617-2276/5179

Visit the Loyola ROTC website, https://www.loyola.edu/academics/rotc.

Title 38 Policy

Loyola University Maryland complies with section 3679 (e) of title 38, United States Code, regarding students using Vocational Rehabilitation and Employment (Chapter 31) or Post-9/11 GI Bill® (Chapter 33) education benefits. These students are referred to in Loyola University Maryland policy as covered students.

Covered students are permitted to attend or participate in the course of education during the period beginning on the date on which the student provides a Certificate of Eligibility or Statement of Benefits obtained from the Department of Veterans Affairs (VA), or VAF 28-1905, and ending on the earlier of the following dates:

The date on which payment from VA is made to the institution.

90 days after the date the institution certified tuition and fees following the receipt of the Certificate of Eligibility.

Loyola University Maryland does not impose any penalty upon covered students because of the individual's inability to meet financial obligations to the institution due to delayed disbursement of funding from VA under Chapter 31 or 33. Specifically, there will be no assessment of late fees, denial of access to classes, libraries, or other institutional facilities, or requirement that a covered individual borrow additional funds for covered students during the period detailed above.

United States Code Section 3679 (e) is located on the U.S. House of Representatives' Office of Law Revision Counsel United States Code website at: https://uscode.house.gov/view.xhtml?req=(title:38%20section:3679%20edition:prelim)

GI Bill® is a registered trademark of the US. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official US. government Website at https://www.benefits.va.gov/gibill

Monthly Payment Plan

The convenience of paying educational expenses on a monthly basis is an attractive alternative to many families. If you need to use savings, current income, or loans, this option will make the payments easier. Loyola University Maryland has partnered with a commercial plan available through Nelnet, to offer an interest-free monthly payment service for a $40 per semester enrollment fee. The service allows families to make payments on the balance owed over 3,4, or 5 months, depending on the start date of the plan. You must enroll for each semester in which you want to participate.

Financial Aid Policies

Policies governing the awarding and disbursement of aid are as follows:

Appeal Policy

Code of Conduct Policy

Federal Financial Aid and Repeated Courses Policy

Financial Aid Eligibility 

Loyola Merit and Non-Need-Based Grant Retention Policy

Satisfactory Academic Progress Policy

Student Expense Budgets Policy

Study Abroad Policy

Terms & Conditions of Aid Awards 

Tuition Exchange Programs 

 

Financial Appeal Policy for Currently Enrolled Students

Families who suffer significant losses of income due to temporary or long-term loss of employment or the death of a wage earner, or families who incur significant medical expenses not covered by insurance may appeal for a review of the financial aid decision.

At Loyola, we take the time to personally consider each individual family's financial circumstances and will do all we can to make accommodations when determining your financial aid award. Our goal is to offer you the best possible financial aid package based on your family's current financial situation within the parameters of existing policies, federal regulations and the availability of funds.

Incoming first-year and transfer students interested in appealing their financial aid package may contact the Office of Financial Aid at financialaid@loyola.edu for instructions.

Reconsideration of your 2022-23 Aid Eligibility

The Appeal Process is available to currently enrolled students to request consideration of financial circumstances which were not evident in your original application and influence your family's ability to pay for college. Aid eligibility for 2022-23 is based on a family's 2020 income and current asset information. Consider this option if your family has experienced extenuating circumstances and 2021 or 2022 income information more accurately reflects your financial status. Loyola will take the following circumstances into consideration:

  • Loss of income, employment
  • One-time, non-recurring increase in income
  • Loss of untaxed income/benefit
  • Death or disability
  • Divorce or separation

Please note we are unable to consider appeals based on circumstances that include but are not limited to:

  • Consumer debt
  • Personal expenses (car, home improvement, mortgage, etc.)
  • Expenses that have not yet occurred

To initiate a general financial aid appeal based on the above referenced criteria, you must have received a financial aid award for the 2022-23 academic year and complete the 2022-23 Financial Aid Appeal Form. Please note that appeals will not be reviewed until all requested documentation has been received. Depending on the reason for your appeal, the Office of Financial Aid may request additional supporting documentation.

2022-23 Medical Expense Appeals

Please complete the 2022-23 Medical Expense Appeal Form to report excessive medical, dental, or vision care expenses not covered by insurance during calendar year 2021. Please note you must have received a financial aid award for the 2022-23 academic year before submitting this form.

Office of Financial Aid Code of Conduct Policy

The Higher Education Opportunity Act (HEOA) of 2008 requires institutions of higher education to develop and enforce a code of conduct that prohibits conflicts of interest for financial aid personnel.

Additionally, as members of the National Association of Student Financial Aid Administrators (NASFAA), Loyola University financial aid personnel also adhere to the NASFAA Statement of Ethical Principles and Code of Conduct which contains principles specific to the financial aid profession. Consistent with the requirements of the HEOA and the NASFAA Statement, Loyola University has adopted the following Code of Conduct for financial aid professionals. Other University employees, officers, and agents with responsibilities in respect to education loans must also comply with this policy.

Code of Conduct

Conflict of Interest

No employee shall have a conflict of interest with respect to any education loan program or other student financial aid program for which the employee has responsibility.

Ban on Revenue Sharing Arrangements

The University shall not enter into any revenue-sharing arrangement with any lender or other vendor working with its financial aid office. The University shall not accept any fee or other material benefit in exchange for recommending a lender to its students.

Gift Ban

No University officer or employee with financial aid responsibilities shall solicit or accept a gift (e.g. a gift of services, transportation, lodging, or meals, provided by purchase of a ticket, payment in advance, or reimbursement) having a monetary value of more than a de minimus amount from a lender, guarantor, or servicer of education loans.

Contracting Arrangements Prohibited

No University officer or employee with financial aid responsibilities shall accept from any lender or lender affiliate any payment or other financial benefit as compensation for any type of consulting arrangement or other contract to provide services to a lender.

Interaction with Borrowers

The University shall not automatically assign a particular lender to any borrower, and shall not refuse to certify or delay certification of any loan based on the lender or guarantee agency selected.

Prohibition on Offers of Funds for Private Loans

The University shall not request or accept from any lender an offer of funds to be used for private education loans in exchange for the University providing the lender with a specified number or volume of federal loans made or in exchange for placement on a preferred lender list.

Co-branding

The University prohibits any private educational lender from using the University's name, emblem and logo as well as any words, pictures, or symbols associated with the University to imply endorsement of private education loans by that lender.

Ban on Staffing Assistance

The University shall not request or accept from any lender any assistance with call center staffing or financial aid office staffing.

Advisory Board Assistance

All employees with financial aid responsibilities shall be prohibited from receiving anything of value from a lender or guarantor in return for service on its advisory board. Reimbursement for reasonable expenses incurred in connection with such service, however, is permitted.

Financial Aid Eligibility 

Federal Financial Aid and Repeated Courses Policy

Federal regulation limits the number of times an undergraduate student may repeat a course and receive financial aid for the course.

  • A student may receive financial aid to repeat a previously passed course (D or higher) to receive a higher grade one additional time.
  • A student may receive financial aid when repeating a course that was previously failed, regardless of the number of times the course was attempted and failed.
  • If a student chooses to retake a course that is not aid eligible, the office of financial aid will recalculate the student's aid to exclude the credits for the repeated course.
  • Exception:  If a student enrolls for 15 credit hours including 3 credits previously passed, the student's financial aid eligibility is not impacted because the student is enrolled for 12 credits which are not repeated courses, and remains enrolled on a full-time basis.
  • The office of financial aid is not responsible for determining if a student may repeat a course, but rather if a student may be eligible for financial aid for a repeat course.
  • This regulation applies whether or not the student received aid for previous enrollment in a course.

Merit and Non-Need-Based Grant Retention Policy

The following scholarships and grants are automatically renewed for four years (8 semesters fall and spring) provided the student maintains full-time enrollment each term (minimum 12 credits per semester). The minimum required cumulative GPA (CGPA) is based on annual, not semester basis.

Retention criteria will be evaluated by the Office of Financial Aid upon completion of each spring semester after all grades are received by the Records Office. Students will be notified via their Loyola email account if they fail to meet any one of the retention requirements.

Students for whom their scholarship and/or grant are terminated may appeal. Written appeals may be submitted via email to the Office of Financial Aid, financialaid@loyola.edu. The appeal must explain why you were unable to meet the retention requirements and what has changed, which will allow you to meet the requirements at the next evaluation. Only written appeals will be accepted.

Loyola Merit Awards
Name
Retention Requirements
Presidential Scholarship Minimum CGPA 2.00
Dean's Scholarship Minimum CGPA 2.00
Loyola Scholarship Minimum CGPA 2.00
Loyola Transfer Scholarship Minimum CGPA 2.00
Loyola Non-Need-Based Grants
Name
Retention Requirements
Baltimore Diocesan Grant Minimum CGPA 2.00*
Community College Grant Minimum CGPA 2.00*
Evergreen Community Grant Minimum CGPA 2.00*
Evergreen Grant Minimum CGPA 2.00*
Family Grant Minimum CGPA 2.00*
Sibling(s) must be concurrently enrolled in an undergraduate program at Loyola
Legacy Grant Minimum CGPA 2.00*
Magis Grant Minimum CGPA 2.00*
Phi Theta Kappa Grant Minimum CGPA 2.00*

Required Courses for Federal Financial Aid Policy

(This policy does not apply to Loyola merit, need, or non-need grant funds)

Federal regulations allow a student to receive federal assistance for courses that count towards the completion of your degree program requirements. Federal aid includes Pell Grant, Direct Loans, Federal Supplemental Educational Opportunity Grant (SEOG), TEACH Grant, and Work Study. Classes that can be included when determining federal financial aid eligibility are those that:

  • Count toward degree or general education requirements;
  • Are required for the major;
  • Are required for the minor; and
  • Fulfill elective requirements up to the number of elective credits required by the degree

Once a student has satisfied the courses required by their program of study, any additional courses in which they enroll cannot be included when determining enrollment status or cost of attendance for federal aid. Excluding courses may therefore result in receiving less or no federal aid. Course enrollment is monitored and if any aid adjustments are required, students will be notified at their Loyola email address.

For example, students must enroll in a minimum of 6 credit hours to be eligible for federal direct loans. But to be considered for your maximum financial aid eligibility, students must take at least 12 credit hours, which is full-time enrollment status. If you enroll in 15 credits but 6 of those credits are not required for your major, the federal aid may be adjusted based on only the degree applicable courses, which in this example is 9 credits. This policy only applies to federal aid, so in this example, all 15 of the student's credits would still count for Loyola merit and Loyola grant funds.

Return of Title IV Funds Policy

Federal statute requires a financial aid office to recalculate federal financial aid eligibility for Title IV funds for students who cease enrollment in all classes prior to completing 60 percent of a payment period or period of enrollment.

At Loyola, this means the Office of Financial Aid must recalculate federal financial aid eligibility for enrolled students who begin attendance and withdraw (stop attending) from all their classes before completing 60 percent of the semester. This requirement does not apply to a student who withdraws from some but not all their classes in the semester. A student who completes all the requirements for graduation from their program before completing the semester is not considered to have withdrawn. This applies to all programs (with or without modules).

Official or Unofficial Withdrawal

For R2T4 purposes, a withdrawal can be official or unofficial.

An official withdrawal occurs when a student who has begun attendance decides to withdraw (stop attending) all their classes before the semester ends. Students are required to notify the Office of the Dean of Undergraduate Studies. The effective date of the withdrawal is the date the student submits the required form(s) to the Office of the Dean of Undergraduate Studies. If the required form(s) is submitted via email, the effective date is the email date. Students may only use their Loyola email account to submit required forms. Please contact the Office of the Dean of Undergraduate Studies to determine which form(s) must be completed and for additional information. 

An unofficial withdrawal occurs if a student drops out without notifying the University. The withdrawal date is the midpoint of the semester or a documented last date of participation in an academically related activity. An unofficial withdrawal is considered to have occurred when a student has been assigned an initial grade of FW for all classes which is recorded officially as an F after verification that the student did not officially withdraw.

Please visit the Office of the Dean of Undergraduate Studies, the Academic Advising and Support Center, and the Records Office for additional information on dropping classes, leaves of absence and withdrawal from the University.

Title IV Funds

The Title IV aid programs subject to the return of Title IV funds requirement include the Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), Federal TEACH Grant, Iraq and Afghanistan Service Grant, Federal Direct Subsidized and Unsubsidized Loans, Federal Direct Parent PLUS and Graduate PLUS Loans.

R2T4 Formula

Though financial aid is typically posted to a student's account at the beginning of the semester, students earn the funds as they complete the semester. If a student withdraws during the semester, the amount of Title IV aid they earned up to that point is determined by the federal R2T4 formula.

Earned Aid

Earned aid is the amount of Title IV aid the student is entitled to based upon the amount of the semester completed as of the date the student withdrew. A student's earned aid may be either disbursed or undisbursed at the time of withdrawal. The amount earned is proportionate to the percentage of the semester the student had completed at the time they withdrew, excluding breaks of five days or more. In other words,

(Number of days the student is enrolled)  divided by  (Total number of days in the semester including weekends and holidays and excluding Thanksgiving break or spring break, if applicable) 
= Percentage of semester completed (also the percentage of earned aid)

For example, if a student completes 40% of the semester, they earned 40% of the Title IV aid originally scheduled. 

Post-Withdrawal Disbursement

A student may be due a post-withdrawal disbursement if the amount of Title IV funds earned is more than the amount disbursed at the time they withdrew.

If a student has an outstanding balance on their account for current award year charges for tuition, room, and meal plan charges, and prior award year charges of $200 or less for tuition, room, and meal plan charges, Loyola may automatically credit a post-withdrawal disbursement of grant funds to the student's account. Otherwise, Loyola must obtain the student's written authorization before crediting the post-withdrawal disbursement for other current award year educationally related institutional charges and prior award year educationally related institutional charges up to $200.

If a student does not have an outstanding balance on their account or the amount of the post-withdrawal disbursement is greater than the balance, Loyola must directly deliver any grant portion of the post-withdrawal disbursement to the student within 45 days of the date of the school's determination the student withdrew. 

If the post-withdrawal disbursement includes loan funds, Loyola may not credit the student's account and the borrower may not receive the proceeds as a direct disbursement without first notifying the borrower and confirming they still wish to receive the loan disbursement. Loyola must send the notification within 30 days of the school's determination that the student withdrew and allow the borrower at least 14 days to respond. A student (or parent for a Direct PLUS Loan) may choose to decline some or all the loan proceeds to reduce indebtedness. If no response is received within 14 days of notification, the award will be canceled.

Unearned Aid

If the amount of Title IV aid earned is less than the amount disbursed as of the date the student withdrew, the difference is the amount of unearned aid that must be returned to the Title IV programs by Loyola, the student, or both.

The R2T4 formula is designed so all the unearned funds are returned by the school if the student's institutional charges equal or exceed the amount of Title IV funds disbursed. It is also designed so the institution and the student must each return a share of the funds if the amount of Title IV funds disbursed exceeds the student's institutional charges.

School Share

Loyola's share is determined first and is the lesser of the total amount of unearned aid or an amount equal to institutional charges multiplied by the percentage unearned. The percentage unearned is the complement of the percentage earned. 

Loyola must return the Title IV funds for which it is responsible no later than 45 days after the date of the determination of the date of the student's withdrawal.

Loyola is responsible for allocating unearned funds to the Title IV programs from which the student received assistance in the following order, up to the net amount:

  • Federal Direct Unsubsidized Loan
  • Federal Direct Subsidized Loan
  • Federal Direct PLUS Loan (Graduate PLUS Loan applies to graduate students only)
  • Federal Pell Grant
  • Federal Iraq & Afghanistan Service Grant
  • Federal Supplemental Educational Opportunity Grant (FSEOG)
  • Federal TEACH Grant

Student Share

The student's share is the difference between the total unearned aid and Loyola's share. Loyola must notify the student of any unearned funds for which they are responsible for repaying within 30 days of the date the school determined the student withdrew. 

If unearned grant funds are to be returned it is referred to as an overpayment. The maximum amount of grant aid a student must repay is 50 percent of the total federal grant funds received or scheduled to receive. Loyola's notification must include the student has 45 days in which to repay the overpayment in full or to enter into a satisfactory repayment agreement with Loyola or the Department of Education. Students are not required to return unearned grant funds of $50 or less.

If direct loan funds must be returned, the student (or parent for a Direct PLUS Loan) must repay the funds according to the terms of the promissory note.

Loyola Refund Policies

The R2T4 refund policy is distinct and separate from Loyola's other refund policies. The amount of unearned Title IV funds that must be returned because of applying the R2T4 formula is independent of institutional charges assessed the student under the school's refund policy. Title IV regulations do not govern how much Loyola may charge its students. It is possible that a student may still be responsible for unpaid institutional charges resulting from the University having to return unearned Title IV funds.

Satisfactory Academic Progress (SAP) Policy

Federal regulations require students who are receiving Title IV (federal) financial aid to make deliberate and measurable progress toward their degree to continue to receive these funds. This requirement is referred to as Satisfactory Academic Progress or SAP. At Loyola, SAP standards apply to students receiving assistance from federal aid programs (Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Work-Study, Federal Direct Subsidized/Unsubsidized Loans, Federal Direct PLUS Loans, Federal TEACH Grant), state funds, and Loyola need-based aid.

The Office of Financial Aid evaluates academic progress annually upon completion of the spring semester, after grades are reported. The review is based on the entire academic record, even if a student did not receive financial aid for a previous semester(s) of enrollment.

SAP measures academic performance based on three standards: cumulative grade point average (GPA), pace, and maximum timeframe. To be eligible for financial aid, students must comply with all three requirements. 

Cumulative Grade Point Average (GPA)

Students completing their first year at Loyola must have a cumulative GPA of 1.8 or better and 2.0 or better each year thereafter.

Pace

Students must successfully complete at least 66.67 percent of cumulative credit hours attempted. To calculate pace, divide the cumulative number of credits successfully completed by the cumulative number of credits attempted.

For example, if a student successfully completes 24 credits but attempted 30, the student's pace is 80 percent (24 / 30 = 80%)

Maximum Time Frame

Students must complete required coursework within 150% of the published program length.

For example, a student must complete a 120-credit hour program within 180 attempted hours

Treatment Of Grades and Courses

  • Grades of A, A-, B+, B, B-, C+, C, C-, D+, D, and F are included in the cumulative GPA calculation.
  • Credits with grades of A, A-, B+, B, B-, C+, C, C-, D+, D, P, and S are considered both attempted and completed.
  • Credits with grades of F, NC, U, and NG are considered attempted but not completed.
  • Incomplete (I) grades are not included in the GPA calculation and count as attempted but not completed credits until the coursework is graded with a permanent grade.
  • Withdrawal (W) grades received after the add/drop period are not included in the GPA calculation and count as attempted but not completed.
  • Credits for which an enrolled student receives grades of all W due to an approved personal or medical leave of absence and/or otherwise officially withdraws during the semester count as attempted but not completed.
  • Credits for which an enrolled student receives grades of all F because they cease attending (unofficially withdraw) during the semester count as attempted but not completed.
  • Accepted transfer credits are considered both attempted and completed. Transfer credits are not included in the cumulative GPA calculation.
  • Courses taken because of a change in major or degree program result in all courses considered in the pace and maximum timeframe requirements.
  • Courses taken for Audit are not eligible for financial aid and therefore, not included in the SAP calculation.
  • Repeated courses count as attempted and completed credits.
  • Students may receive financial aid for repeating a previously passed course (D or better) only once.
  • Students may receive financial aid for repeating a failed course until a passing grade (D or better) is received.

Losing Financial Aid Eligibility

Students who fail to maintain the minimum standards for pace, maximum timeframe, and/or fail to maintain the minimum cumulative GPA requirements are ineligible to received financial aid in subsequent semesters. The Office of Financial Aid will notify students who do not meet the SAP requirements via email at their Loyola email address. A student's SAP status, satisfactory or unsatisfactory, is also displayed in the financial aid self-service portal.

Re-Establishing Financial Aid Eligibility

Students may re-establish eligibility for financial aid in one of the following ways:

The student takes classes and pays for tuition and other charges as applicable without the help of financial aid and does well enough in the coursework to satisfy SAP at the end of the subsequent semester(s).

The student submits a successful appeal - see procedures below. Students who are beyond the maximum time frame to completion may regain financial aid eligibility on a semester-by-semester basis through the appeal process.

Appeal Process

Students who wish to appeal must submit the following to the Office of Financial Aid:

1. A written letter or email describing extenuating circumstances that prevented the student from meeting the SAP requirements AND the course of action or change that will allow them to make satisfactory academic progress at the next evaluation.

​Appeal circumstances are reviewed on a case-by-case basis and may include but are not limited to:

  • Student becomes seriously ill
  • Student is severely injured
  • Student's relative dies

Other cases may be considered if they are determined to have caused physical or psychological stress on a student. An appeal may not be based upon the need for funds nor the lack of knowledge that eligibility for aid was in jeopardy.

2. An academic plan created with and signed by your academic advisor or an advisor from the Academic Advising and Support Center demonstrating how you will achieve SAP by a specific point in time. Your academic plan should reflect realistic and attainable goals and may include necessary courses to achieve satisfactory academic progress standards. Your academic plan could take you to completion of your program rather than meeting SAP standards at a specific point in time as determined by your advisor.

To expedite your appeal, submit all documents together and be as detailed as possible in your personal statement.

Deadline to Appeal

  • September 15 to receive aid in the fall
  • January 30 to receive aid in the spring

Appeal Decision

The Office of Financial Aid SAP Committee will review an appeal once all required documents are submitted. If the appeal is approved, the student will be placed on probation and will be eligible to receive financial aid for one semester. A student may re-establish eligibility by meeting the SAP standards or the conditions set forth in their academic plan.

  • If after the probationary semester, the student is meeting the minimum SAP requirements, the probationary status will be removed, and the student will continue to be eligible for financial aid.
  • If after the probationary semester, the student is not meeting minimum SAP requirements, but they are meeting the terms of their academic plan, their academic plan is rolled over to the next semester and the student will continue to be eligible for financial aid. SAP will be re-evaluated upon completion of that semester.
  • If after the probationary semester the student is not meeting the minimum SAP requirements or the terms of their academic plan, they will be ineligible from receiving financial aid in subsequent semesters. If aid is suspended after probation, the student may submit another appeal.

If the SAP appeal is denied, the student may attend without financial aid to re-establish eligibility. A period of non-enrollment is insufficient to re-establish eligibility. 

Students will be notified of their SAP appeal decision via email at their Loyola email address.

Financial Aid Probation is Not the Same as Academic Probation

Please note that the SAP policy applies to financial aid eligibility and is separate from the academic standards required by the University for continued enrollment. However, if a student is academically suspended or placed on academic probation, the student is also considered to have failed SAP.

Students Returning to Loyola After a Year or More Absence

If a student previously left Loyola after failing to meet the minimum SAP requirements returns and wishes to re-establish eligibility for financial aid, they must follow the procedures listed above.

All information is subject to change based on changes to federal law, regulation, or university policy and procedure. If changes are made, students must abide by the new policy.

Student Expense Budgets Policy

A student's demonstrated financial need is determined by subtracting the family contribution from the FAFSA, from the amount we estimate it will cost the student to attend Loyola (the student expense budget). The student expense budget includes actual charges for tuition, and standard allowances for room and board, books and supplies, transportation and personal expenses. There are three standard student expense budgets: on-campus, off-campus and with parents. In assigning an expense budget to determine your financial need, we used the following assumptions:

  • On-Campus: Living on-campus in a Loyola residence hall. Students who paid a housing deposit, students who received a housing assignment, students receiving Resident Assistantships, and students participating in Loyola sponsored study-abroad programs were assigned this housing status.
  • Off-Campus: Living off-campus in an apartment or residence not owned by or associated with Loyola. Non-Maryland residents who did not pay a housing deposit and students participating in non-Loyola sponsored study-abroad programs were assigned this housing status. Maryland residents who have provided an active off-campus local address will also be assigned this status.

Eligibility for need-based forms of financial aid may be impacted when students choose to change their housing status from on-campus to off-campus or commuter status. Therefore, it you are a recipient of need-based aid, it is important that you contact the Financial Aid Office before making a final decision.

  • Commuter With Parents: Living at home with your parent(s). Maryland residents who did not pay a housing deposit or who did not provide the University with an active off-campus local address were assigned this housing status.

If the housing status we used in constructing your student expense budget is incorrect, you are required to contact the financial aid office. We will recalculate your financial aid eligibility after your actual housing status is verified.

Study Abroad Policy

Loyola-sponsored Study Abroad Opportunities

Students participating in a Loyola-sponsored study abroad program are eligible for consideration for all forms of federal, state, institutional and private sources of aid except the Federal Work-Study Program. Students studying abroad for the fall semester, spring semester or a full academic year will forfeit the value of a Federal Work-Study award.

External Study Abroad Opportunities

Students may participate in external study abroad opportunities only with the approval of Loyola's Office of International Programs.

Students approved to study abroad in an external program are eligible to receive Federal Direct Loans (subsidized and unsubsidized), Federal Parent Loans (PLUS), Federal Pell Grants, and most forms of state grant/scholarship assistance. If approval is granted, Loyola University Maryland will be considered the home institution for purposes of applying for federal student aid.

Institutional forms of financial aid cannot be used to assist with educational expenses for external study abroad programs. Students studying abroad through an external program will forfeit any institutional form of financial aid, including academic scholarships, athletic scholarships, need- and non-need-based grants, Federal Supplemental Educational Opportunity Grants, and Federal Work-Study. Privately-funded scholarships and grants may be used only with the written permission of the organization or donor sponsoring the award.

Students who anticipate the need for additional financial assistance should contact the administrator of the study abroad program in which they plan to participate or obtain more information on financial aid opportunities from the following resources:

  • International Education Finance Corporation (IEFC)
    International Student Loan Program (ISLP)
    https://www.iefa.org/
  • NAFSA: Association of International Educators
    https://www.nafsa.org/
  • Financial Resources for International Study:
    A Guide for U.S. Nationals
    Institute of International Education (IIE)
    https://www.iie.org/
  • The Smart Student Guide to Financial Aid
    Financial Aid for Study Abroad
    https://finaid.org/

Tuition Exchange Policy

The Tuition Exchange Program, Inc.

2023-2024 Academic Year

Loyola University Maryland is one of just over 670 colleges and universities that participate in the Tuition Exchange Program, Inc. (TEP). Through this program, dependent children of faculty, administrators and staff are eligible for tuition remission at their parent's home institution and may qualify for tuition remission at other participating colleges and universities.

Obtaining Proof of Eligibility

To obtain certification of your eligibility for the TEP benefit, request that the TEP Administrator at your home institution notify Loyola University Maryland, via the TEP webpage, that you are eligible and wish to be considered for the benefit.

Applying for Admission to Loyola University Maryland

You must be accepted for admission before you can be considered for the TEP benefit. TEP certification does not automatically qualify you for admission, nor does an offer of admission mean that a space will be automatically available in Loyola's TEP Program.

Spaces in the Tuition Exchange Program are limited and are awarded on a competitive basis considering your high school academic record. The determination of your eligibility for a space in the Tuition Exchange Program will not be made until you are certified as eligible and accepted for admission. The TEP certification application must be received by Loyola no later than December 15, 2022.

If you are accepted for admission, you will be notified of your eligibility for the TEP benefit no later than April 1, 2023.  If you are not offered the benefit, your name will be placed on a waiting list. Students who choose to attend Loyola without the TEP benefit will automatically be considered for the benefit in subsequent years. Please be aware, however, we are unable to guarantee the TEP award to currently enrolled students given budgetary restrictions in any given year.

Applying for Financial Aid

It is recommended, but not required, that you apply for financial aid. It is possible that a financial aid offer may make it financially possible to attend Loyola University if a space in the Tuition Exchange Program is not available.

Submitting your deposit

A $750 deposit is required to reserve a space in the incoming first-year class and in on-campus housing. The deposit deadline is May 1, 2023, so it is important for you to submit your deposit as soon as you make the decision to attend Loyola.  Receipt of the TEP benefit does not automatically guarantee a class or housing space. The $750 deposit is non-refundable unless class and housing space is not available.

Terms and Conditions

  • TEP benefit recipients must enroll as full-time degree-seeking undergraduates and make satisfactory academic progress toward a degree.
  • The value of the TEP benefit at Loyola University is limited to 85 percent of tuition. The TEP award replaces any institutional scholarships previously awarded. TEP benefit recipients are expected to complete their degree within eight consecutive fall and spring semesters if the benefit is awarded as an entering first-year student; in six consecutive semesters if the benefit is awarded as a sophomore; or four consecutive semesters if the benefit is awarded as a junior. The benefit does not cover tuition for part-time, summer or graduate course enrollment, nor does it cover fees, room, meal or book expenses.
  • Use of the TEP benefit for study-abroad is limited to Loyola University-Sponsored and Loyola University Exchange programs. The benefit may not be used to pay tuition for study abroad programs sponsored by other colleges and universities.
  • TEP recipients are not eligible to receive any type of institutionally-funded academic scholarship or need-based grant assistance from Loyola University. Scholarships/grants from non-institutional sources will be added up to the maximum value of remaining tuition, additional fees, and room charges before reducing the TEP benefit.
  • TEP recipients must have their parent's home institution re-certify eligibility for the benefit annually. Re-certification statements must be submitted no later than May 1 each year.

The FACHEX Program

2023-2024 Academic Year

Loyola University Maryland is one of 27 Jesuit colleges and universities that participate in the Faculty and Staff Children Exchange Program (FACHEX). Through this program, dependent children of faculty, administrators and staff are eligible for tuition remission at their parent's home institution and may qualify for tuition remission at other participating Jesuit colleges and universities.

Obtaining Proof of Eligibility

To obtain certification of your eligibility for the FACHEX benefit, request that the FACHEX Administrator at your home institution notify Loyola University Maryland, via the https://www.tuitionexchange.org/, that you are eligible and wish to be considered for the benefit.

Applying for Admission to Loyola University Maryland

You must be accepted for admission before you can be considered for the FACHEX benefit. FACHEX certification does not automatically qualify you for admission, nor does an offer of admission mean that a space will be automatically available in Loyola's FACHEX Program.

Spaces in the FACHEX Program are limited and are awarded on a competitive basis considering your high school academic record. The determination of your eligibility for a space in the FACHEX Program will not be made until you are certified as eligible and accepted for admission. The FACHEX certification application must be received by Loyola no later than December 15, 2022.

If you are accepted for admission, you will be notified of your eligibility for the FACHEX benefit no later than April 1, 2023. If you are not offered the benefit, your name will be placed on a waiting list. Students who choose to attend Loyola without the FACHEX benefit will automatically be considered for the benefit in subsequent years. Please be aware, however, we are unable to guarantee the FACHEX award to currently enrolled students given budgetary restrictions in any given year.

Applying for Financial Aid

It is recommended, but not required, that you apply for financial aid. It is possible that a financial aid offer may make it financially possible to attend Loyola University if a space in the FACHEX Program is not available.

Submitting your deposit

A $750 deposit is required to reserve a space in the incoming first-year class and in on-campus housing. The deposit deadline is May 1, 2023, so it is important for you to submit your deposit as soon as you make the decision to attend Loyola.  Receipt of the FACHEX benefit does not automatically guarantee a class or housing space. The $750 deposit is non-refundable unless class and housing space is not available.

Terms and Conditions

  • FACHEX benefit recipients must enroll as full-time degree-seeking undergraduates and make satisfactory academic progress toward a degree.
  • The value of the FACHEX benefit is full-tuition. The FACHEX award replaces any institutional scholarships previously awarded. FACHEX benefit recipients are expected to complete their degree within eight consecutive fall and spring semesters if the benefit is awarded as an entering first-year student; in six consecutive semesters if the benefit is awarded as a sophomore; or four consecutive semesters if the benefit is awarded as a junior. The benefit does not cover tuition for part-time, summer or graduate course enrollment, nor does it cover fees, room, meal or book expenses.
  • Use of the FACHEX benefit for study-abroad is limited to Loyola University-Sponsored and Loyola University Exchange programs. The benefit may not be used to pay tuition for study abroad programs sponsored by other colleges and universities.
  • FACHEX recipients are not eligible to receive any type of institutionally-funded academic scholarship or need-based grant assistance from Loyola University. Scholarships/grants from non-institutional sources will be added up to the maximum value of additional fees and room charges before reducing the FACHEX benefit.
  • FACHEX recipients must have their parent's home institution re-certify eligibility for the benefit annually. Re-certification statements must be submitted no later than May 1 each year.

Questions?

Address additional questions concerning Tuition Exchange and FACHEX Programs to:

Diane M. Roche
Assistant Director
410-617-2576
800-221-9107
Fax: 410-617-5149
financialaid@loyola.edu

Financial Aid Eligibility, Terms and Conditions

Academic Scholarships

In order to attract the caliber of students who value the tradition of quality Jesuit education that Loyola University Maryland offers, we award academic scholarships unrelated to financial need. The awards are based on superior academic ability and potential to contribute to the academic climate of the campus community.

Entering first-year applicants are automatically considered for Loyola's academic scholarships. Students are selected on a competitive basis considering high school grade performance, course selection, rank-in-class and strength of high school. SAT/ACT scores are also considered if provided by the applicant. The intensity of the competition each year depends on the size and quality of the first-year class applicant pool. Scholarships are awarded for four years, and the value of the award does not increase as tuition increases. The number of scholarship awards offered to entering first year students is based on Loyola's institutional budget and anticipated yield rate. Therefore, many more scholarship offers will be made than our budget allows, recognizing that a percentage of students will decline our offer and attend other colleges and universities. Our goal is to make the best scholarship offer possible considering Loyola's level of selectivity and budget constraints. We are unable to "match" other institutions' academic scholarship awards.

Loyola University Maryland administers a limited number of endowed scholarships and privately-funded scholarships reserved for members of the junior and senior classes. Therefore, currently enrolled students who have achieved an outstanding academic record (minimum GPA of 3.00) at the end of their sophomore and junior years and who meet other donor-specified selection criteria will be considered for scholarships from these funds.

Endowed scholarships and privately-funded scholarships administered by Loyola may be used to fund (in full or part) institutional academic scholarships and may be substituted for institutional need-based grant assistance.

Need-Based Financial Aid

Applicants for financial aid are evaluated based on financial need and standards of academic progress. The formula used to determine a student's eligibility for need-based financial aid is:

Cost of Attendance - Expected Family Contribution = Financial Need

The Cost of Attendance, or budget, is the total amount we estimate it will cost a student to attend Loyola for one year. It includes direct charges, those costs that are billed by Loyola such as tuition, housing, and meal plans and estimates other expenses, such as books, supplies, and personal expenses. These costs are also referred to as indirect charges.

There are three standard student expense budgets: on-campus, off campus, and living at home with parents.

The Expected Family Contribution (EFC) is determined based on information provided on the Free Application for Federal Student Aid (FAFSA). The application collects income and asset information from both the student and parent(s)/stepparent. Other information that affects your EFC is household size, number of children in college, and age of your parent(s).

Once your financial need is determined, the Office of Financial Aid will attempt to meet as much of your need as possible using federal, state, and institutional funding awarded in the form of grants, loans, and/or student employment.

Treatment of Privately-Funded Awards and Awards from Other Outside Sources

Non-Need Based Financial Aid Packages

Privately-funded scholarships, state grants and grants from other outside sources are added to Loyola's institutionally-funded academic scholarships, endowed scholarships, or Resident Assistantships up to a maximum of full-tuition, fees, room, and the standard meal plan allowance.

The tuition portion of U.S Army ROTC Scholarships and Federal Veterans Administration/Yellow Ribbon Program benefits will be substituted for Loyola's institutionally funded scholarships since these awards may only be applied to tuition charges.

Need-Based Financial Aid Packages

Loyola's policy is to package outside scholarships as favorably as possible. These awards are added to meet any unmet need first and then substituted for self-help forms of financial aid (work and/or loans). Institutional grant and/or scholarships are reduced only if the outside awards exceed the amount of unmet need and self-help aid. These awards are applied evenly to the student's account between the fall and spring semesters unless otherwise specified by the donor.

Students are required to notify the Office of Financial Aid of any outside scholarships. Federal regulations require Loyola to include these awards in a student's total financial aid package.

Annual Determination of Financial Aid Eligibility

Eligibility for all forms of need-based federal, state, and institutional sources of aid is determined based upon an annual review of the information submitted on the Free Application for Federal Student Aid (FAFSA). Annual changes in the information provided on the FAFSA, e.g., family income, assets, family size, number of dependent children enrolled in college, etc. may affect the annual Expected Family Contribution toward educational expenses.

It is important that students submit the FAFSA by the priority deadline each year for maximum consideration of aid.

Terms and Conditions of Aid Awards

Acknowledgment of Financial Aid Package

Admitted applicants and students will be notified via email when a financial aid eligibility decision is made. You will be directed to financial aid self-service to review your aid package and accept or decline the aid offered (loans and work-study).

If you need to reduce the amount of student loan offered, update housing or enrollment status, or report receipt of outside sources of aid, you must notify the Office of Financial Aid in writing at financialaid@loyola.edu. Be sure to include your full name and Loyola student ID number.

If your financial aid package requires a revision or correction, you will be notified via email. 

Responsibilities of Financial Aid Recipients

Students are required to notify the Office of Financial Aid of any additional financial aid you receive from sources outside Loyola. Receipt of additional financial aid may result in an adjustment of your financial aid package.

Recipients of Federal Aid must be a U.S. Citizen or eligible non-citizen as defined by the U.S. Department of Education. Some students may be required to submit proof of citizenship status.

Students are required to notify the Office of Financial Aid of any change in name, address, enrollment status, anticipated graduation date, housing status (on-campus, off-campus, with parents), or other changes related to your attendance at Loyola by emailing financialaid@loyola.edu.

Need-based aid is awarded for one academic year at a time. Students must re-apply by completing the Free Application for Federal Student Aid (FAFSA) by the published priority deadline for maximum consideration.

Disbursement Procedures

Financial Aid is awarded for one academic year at a time. The aid offered on your Financial Aid Award Notification provides the annual and semester amount of each award, fall and spring. Award amounts are divided half for the fall semester and half for the spring semester unless otherwise noted.

Financial aid (scholarships, grants, and loans) is disbursed or credited to your Loyola student account no more than 10 days prior to the beginning of each semester. This means you must have accepted your aid and do not have any holds or aid in a pending status. All required documents must have been submitted, and if you are borrowing, you must have completed the required Entrance Counseling and Master Promissory Note (MPN). You must also be registered for the minimum required credits. You can verify these requirements through your financial aid self-service portal.

Unlike other aid programs that are credited to your student account, you will receive Federal Work-Study earnings in the form of a paycheck.

Aid that is disbursed is first applied to the charges on your student account. If the amount of your aid is greater than the charges on your student account, you can expect to receive a refund within 14 days of the start of classes. If you prefer to receive your refund via direct deposit instead of a paper check, instructions are available on the Financial Services website.