Determine if you are eligible for a GRE Fee Waiver.
Loyola participates in the GRE Fee Reduction Program, which allows institutions to make GRE Fee Reduction Certificates available to eligible college seniors and non-enrolled college graduates who meet the GRE Board guidelines.

Departmental Scholarships and Assistantships
Recipients of departmental scholarships and assistantships are selected by individual graduate departments. Contact your department for applications, requirements, and deadlines.

Find Out About Your Financial Assistance Package

Students who are admitted to Loyola and have filed a valid FAFSA listing Loyola's school code, will receive Financial Aid Award letters, which are mailed to graduate students beginning in late Spring.  Awards can include eligibility for Federal Stafford Loans; academic department scholarships and assistantships when graduate departments have notified OSFA; and other assistance for which OSFA has received notification. Award notifications to continuing graduate students are sent by e-mail to the student's University e-mail address. Awards are also posted for student review in LOCUS.

Revised Award letters are emailed by OSFA to graduate students, as needed, throughout the academic year. Revised Award letters are notifications of a change in your aid resulting from, for example, a change in your enrollment, a request from you to reduce or reject aid, or notification of addition assistance.

Be sure to review your award letters promptly and reduce/reject loans in LOCUS if you want to change the amount you need to borrow.

Federal Stafford Loans
The maximum Federal Stafford Loan amount per academic year (Loyola's academic year begins Fall Term, ends after the following Summer Term) is $20,500 for a graduate student.

To be considered for a Stafford Loan, you must file a FAFSA each year, be a U.S. citizen or eligible non-citizen; not be in default on existing Federal Student Loans; and be at least a half-time student in an eligible degree-seeking program.

Additional Graduate Loan Eligibility
The amount on your financial aid listed as [Eligibility: Addl Grad Loan] in LOCUS is NOT an actual award but represents the maximum amount that you COULD borrow through a credit-based alternative or Graduate PLUS Loan. This amount reflects the estimated direct and indirect costs associated with your enrollment.  Loans may be borrowed to the cost of attendance less any financial aid (e.g., assistantships, fellowships, or Federal Stafford Loans).

Graduate PLUS Loans accept borrowers with limited or no credit history. The interest rates is fixed at 7.9%. Loan fees may be as much as 4% of the original loan amount. Repayment can begin while you are in school, if you prefer, or will begin after you leave school. 

Alternative Student Loans   

The terms and conditions of alternative loans are set by the individual lenders and will vary. Interest rates are often variable and can change often while you are in-school and in repayment.  Eligibility is based on the creditworthiness of the applicant or co-signer. For tips on applying for a private loan, plase click here. 

Other Considerations
Scholarships: Potential resources may be available through your employer, religious and ethnic organizations, institutions affiliated with your field of study, your hometown chamber of commerce, city council, or local school district. Web sites such as www.fastweb.com or www.collegezone.com may also be helpful. Promptly notify OSFA of any other assistance you will receive.

Payment Plans
Contact the Office of the Bursar for information regarding tuition payment plans that allow you to pay as you go. Contact your graduate department if your employer will reimburse your tuition; inquire about the Employer Reimbursement Plan through the Office of the Bursar which allows eligible students to defer tuition payment while awaiting reimbursement.

Excess Credit Refunds

If the financial aid credited to your account exceeds your university charges, the Office of the Bursar will process a refund of the excess credit.  During high-volume times such as the start of each term, expect credit refunds to take longer to process. Once processed, the credit refund must be picked up from the Office of the Bursar or can be deposited directly into your personal checking or savings account (sign up for direct deposit in Locus.)