Financial Aid
Loyola’s Office of Financial Aid administers an extensive program of scholarships, grants, loans and on-campus employment to assist families with educational expenses. Approximately 65% of our undergraduates receive assistance. Here are some important points to know about our program:
Academic scholarships
These awards are not related to financial need but are based on a competitive evaluation of an applicant’s academic credentials and record of extracurricular involvement, leadership, service and special talent.
Need-based grants
Federal, state and Loyola-funded grant programs are awarded based on demonstrated financial need. Grants are often awarded as a part of a package of aid.
Loans and work-study
Subsidized student loans and campus employment are typically part of an aid package based on financial need.
Need-based aid eligibility
Eligibility for need-based forms of financial aid is calculated by subtracting the expected family contribution (as determined using the results of the PROFILE and FAFSA) from the student's total cost of attendance. The cost of attendance includes actual tuition and fees and allowances for room and board, books and supplies, transportation and personal expenses.
Application Procedures
All applicants for admission will be considered for merit-based academic scholarship award, proved their application for admission is complete by either the Early Action filing deadline of November 15 or the Regular Decision filing deadline of January 15. A separate scholarship application is not required. Eligibility for need-based aid is determined using the results of the CSS PROFILE Application and the Free Application for Federal Student Aid (FAFSA). Both forms must be filed by February 1.
CITIZENSHIP REQUIREMENT: All federal, state, and institutional student financial aid recipients must be U.S. citizens, U.S. nationals, or eligible noncitizens with a valid Social Security number. An eligible noncitizen is a U.S. permanent resident who has an I-151, I-551, or I551C (Permanent Resident Card).
NOTE: Financial aid programs described herein are subject to change due to federal, state and institutional regulations, legislation, and funding levels.