Loyola University Chicago

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Loyola University Chicago

Office of the Bursar

Installment Plans

Make the cost of your education more affordable by spreading payments over a number of monthly installments instead of making one payment each semester.


 

Enrollment    

Through LOCUS (Loyola's Online Connection to University Services), click on Campus Finances and select Installment Plan. Our step-by step Budget Wizard process will make it easy for you to establish a budget and monthly installment plan.

Click here for a video tutorial on how to use the iPlan Budget Wizard in LOCUS.

Note: Stritch School of Medicine students are not eligible to enroll. 

 

Annual Installment Plans      

Budget charges for annual plans or a full academic year, can be spread out into 8 to 12 monthly installments.  Prior term balances may not be included.  A non-refundable enrollment fee of $85 is added to your first month's installment.

 Enrollment FeeSign-Up BeginsSign-Up EndsFirst Installment Due
12-Month Plan $85 April 7 May 1 May 5
11-Month Plan $85 April 7 June 1 June 5
10-Month Plan $85 April 7 July 1 July 5
9-Month Plan $85 April 7 August 1 August 5
8-Month Plan $85 April 7 September 1 September 5

 

Fall Term Installment Plan    

Fall Term Plans budget a single semester over 3 to 5 monthly installments. Prior term balances may not be included. A non-refundable enrollment fee of $50 is added to your first month's installment.

 Enrollment FeeSign-Up BeginsSign-Up EndsFirst Installment Due
5-Month Plan $50 April 7 July 1 July 5
4-Month Plan $50 June 1 August 1 August 5
3-Month Plan $50 July 1 September 1 September 5

 

Spring Term Installment Plan      

Spring Term Plans budget a single semester over 3 to 5 monthly installments. Prior term balances may not be included. A non-refundable enrollment fee of $50 is added to your first month's installment.

 Enrollment FeeSign-Up BeginsSign-Up EndsFirst Installment Due
5-Month Plan $50 November 6 December 1 December 5
4-Month Plan $50 November 6 January 1 January 5
3-Month Plan $50 November 6 February 1 February 5

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Quinlan School of Business (only)      

Quinlan School of Business graduate students are able to enroll in any Annual Plans listed above but will only have access to the 3-Month Term Plans noted below.  Prior term balances may not be included.

A non-refundable enrollment fee of $50 is added to your first month's installment per quarter.

 Enrollment FeeSign-Up BeginsSign-Up EndsFirst Installment Due
Fall
3-Month Plan
$50 June 5 August 1 August 5
Winter
3-Month Plan
$50 October 5 November 1 November 5
Spring
3-Month Plan
$50 January 5 February 1 February 5

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Policies      

Period of Coverage

Your payment period and schedule is based on your selected plan. To review when your plan will start and end, click here.

Enrollment Fee

Annual Plans are charged a non-refundable enrollment fee of $85 that will automatically be applied to your first month's installment.

Term Plans are charged a non-refundable enrollment fee of $50 that will automatically be applied to your first month's installment.

How to Enroll

Enrollment is typically accomplished through LOCUS. For a parent/guest payer, the student must have granted parent/guest access to set up an installment plan. Parents/guests to whom you have previously granted access to “View my Account Summary, “View my Financial Aid” and “View my e-Bill” will automatically have the capability to review and set up an installment plan unless you opt out by unselecting the check box marked “Installment Plan” on your Parent/Guest User page. If you have special circumstances that prevent you from signing up for iPlan through LOCUS, please contact the Bursar’s Office.

Payment and Billing

You are responsible for paying the amount due on your iPlan plus any amount not included in your budget for calculating monthly payments, even if you do not receive a reminder.

Around the 15th of each month, students and those with parent/guest access, will receive an email when their e-Bill is generated. iPlan participants will receive an iPlan e-Bill that reflects the next installment due and other pertinent information about the iPlan, but they will also have access to a regular Loyola e-Bill. The regular e-Bill will reflect payments applied and charges assessed since the previous e-Bill, and should be reviewed to ensure the iPlan is budgeted to cover the entire balance owed to Loyola. Monthly payments are due on the 5th of each month.

No refunds will be processed if there are scheduled iPlan payments remaining and/or until the student account balance is paid-in-full.

 

Payment Methods


Make payments online through LOCUS (
www.luc.edu/locus) using electronic-Check (no service charge) or credit card (2.75% service charge). Payments may also be mailed to:

Loyola University Chicago
3953 Solutions Center
Chicago, IL 60677-3009

Payments may also be made in person at both Office of the Bursar locations (Lake Shore and Water Tower Campuses). When mailing a payment, please be sure to include the student's 11 digit ID number on the check. Visit the Office of the Bursar’s website at www.luc.edu/bursar for more information about payment options.

Past Due and Cancelled Accounts

Any installment not paid in full by the 5th of the month will be considered past due.  LUC reserves the right to charge past due accounts a 1.5% late fee on any past due amount not paid.

Two or more past due payments may result in cancellation of the iPlan.  Upon cancellation, the remaining tuition, fees, room and meal plan charges will become due in full according to the terms of Loyola’s payment policy.  LUC will notify the student and payer at their designated email addresses of the account cancellation.  Students whose iPlan accounts are cancelled will not be permitted to re-enroll in the iPlan within that academic year.

Collections

Should it become necessary for Loyola to retain a collection agency or attorney to secure payment of any amount due, the student/payer will be responsible for all collection costs and legal fees.

Returned Payments

LUC reserves the right to assess a service charge of $40 for any returned payment.  Two or more returned payments may result in cancellation of the iPlan.  Upon cancellation, the remaining tuition, fees, room and meal plan charges will become due in full according to the terms of Loyola’s payment policy.  LUC will notify the student and payer at their designated email addresses of the account cancellation.  Students whose iPlan accounts are cancelled will not be permitted to re-enroll in the iPlan within that academic year.

Voluntary Withdrawal

You may withdraw from your enrollment in LUCs iPlan at any time via LOCUS. The student and payer will receive email confirmation of their withdrawal. Upon withdrawal, the remaining tuition, fees, room and meal plan charges will become due in full according to the terms of Loyola’s payment policy found at www.luc.edu/bursar.No refund will be processed until the student account balance is paid-in-full.

Payment Plan Adjustments

You may reduce your iPlan budget at any time until August 13 by accessing the Adjust Budget feature on the iPlan page. After August 13, budget reductions must be requested through the Installment Plan Administrator by e-mailing iplan@luc.edu.  Increases to your iPlan may be made online through your iPlan page at any time.

Financial Aid

Financial aid is a process that is completed through the Office of Financial Assistance.  Any changes made in the iPlan will not be reflected in financial aid.

Verification   

LUC will periodically verify your iPlan budget amount and will inform you if there appears to be a discrepancy and/or an adjustment is needed to cover a shortfall. Notifications will be sent to the student and payer at their designated email accounts.

If notified, it is highly recommended that you review your iPlan budget amount for possible discrepancies. Doing so at this time will allow you to spread any necessary budget adjustment over the greatest number of remaining payments.

Reconciliation  

LUC will formally reconcile iPlan accounts twice a year (once in Fall and once in Spring) to identify budget discrepancies.  LUC reserves the right to automatically adjust your iPlan if your budget discrepancy is less than $500.00.  If the budget discrepancy is more than $500.00, the student and payer will receive information about necessary steps to adjust the iPlan.  If no action is taken by the student/payer, the University may place an encumbrance (hold) on the Loyola student account blocking future registration, transcripts, or the processing of diplomas.  Click here for the Reconciliation Tutorial

Prior Participation

If you are participating in an Annual Installment Plan, a new application must be submitted for the following year. If you are participating in a Term Installment Plan, a new application must be submitted for any subsequent terms. Participation in the iPlan does not carry over; you must re-enroll.

Change in Student Status

When a student drops classes or completely withdraws from the University, his/her tuition and fee charges are not based on the number of classes attended.  Charges are based on the withdrawal dates determined by the Office of Registration and Records.  Complete withdrawal does not release a student from his/her housing contract with the Department of Residence Life.  In order to be released from a housing contract, you must contact Residence Life at: 773.508.3300.

Students who decide not to attend some or all of their courses after registration are required to officially withdraw through LOCUS or through their dean's office.  Otherwise, students will be held responsible for all charges on their accounts.  There are no exceptions to this cancellation and withdrawal procedure.

Charges are based on the beginning of the term or session, not the class start date. For a complete review of the University Withdrawal Policy please visit the Bursar’s website at www.luc.edu/bursar.

Payer Information

All payers other than the student MUST have parent/guest access to the student account. Payer information must be updated as necessary. Only students have the ability to assign access.

Customer Service


Students or payers with questions regarding their iPlan, may contact the Office of the Bursar, Sullivan Center Suite 190, 1032 W. Sheridan Rd., Chicago IL 60660, 773-508-7705 or iplan@luc.edu.

Agreement

By signing up for a Loyola Installment Plan (iPlan), the student and payer understand their rights and responsibilities as iPlan participants and agree to all the terms and conditions above.

 

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Loyola

Office of the Bursar
Sullivan Center for Student Services
6339 N. Sheridan Road · Lake Shore Campus · Chicago, IL 60660
25 E. Pearson Lobby. Water Tower Campus . Chicago, IL 60611
Phone: 773.508.7705 · Fax: 773.508.8727 · E-mail: bursar@luc.edu

Notice of Non-discriminatory Policy