Loyola University Chicago

• Award Revision 
• Appeal Procedures 
• Eligibility Requirements
• Enrollment Level
• Special Circumstances
• Statistics
• Your Share of Expenses

Financial assistance is provided to help bridge the gap between your resources and the amount needed to pay for the cost of attending Loyola University Chicago. Financial assistance administered by Loyola may be used only for educational purposes.

Eligibility Requirements

To receive federal, state or institutional funds administered by Loyola's Office of Student Financial Assistance (OSFA), a student must:

• Be enrolled as a regular student working toward a degree or certificate in an eligible program
• Be a U.S. citizen or eligible non-citizen. You may be required to show proof by bringing your original documents to OSFA
• Be registered with Selective Service, if required
• Sign a statement of educational purpose and a certification statement on overpayment and default (on the FAFSA)
• Be enrolled at least half-time (see chart below)
• Have a valid Social Security Number
• Make satisfactory academic progress (see the Satisfactory Academic Progress Policy for more information)
• Establish and maintain eligibility for the programs for which aid is received
• Provide evidence of completion of high school
• Not have been convicted of a drug offense

*Students must be enrolled at least half-time for the majority of financial aid programs. If you are considering dropping a course(s), which would change your level (for example, from full-time to three-quarter time), you are encouraged to contact OSFA to determine if the change will affect your financial aid eligibility.

Your Share of Expenses

Cost of Attendance: The cost of attendance is an estimate of what it will cost for you to attend Loyola, including tuition and fees, on-campus room and board (known as direct expenses), and books, supplies, personal expenses, off-campus room and board, and transportation (indirect expenses). Indirect expenses are based on average costs assessed through student surveys.

Expected Family Contribution: The Expected Family Contribution (EFC) reflects the family's ability to absorb the cost of attendance over time. The calculations used to determine the EFC are based on the federally mandated formula known as federal methodology. The formula includes the information you supplied on your Free Application for Federal Student Aid (FAFSA), including information from your federal tax returns, untaxed income, assets, family size, age of the older parent and the number of dependent children in the family attending post-secondary institutions. The EFC is not the actual amount you will have to pay.

How Your Need Is Determined: The actual offer of assistance is based on both your demonstrated financial need and the availability of funds. The Office of Student Financial Assistance uses the following formula:

Financial need represents the total amount of "need-based" assistance for which you may be eligible. If you receive assistance from other resources such as scholarships from university departments, outside agencies, etc., these awards will be considered when we award need-based assistance.

Your cost of attendance—or budget—is an estimate of the average expenses to be incurred while attending Loyola during the academic year. Your budget includes direct expenses paid directly to the university, such as tuition and fees, and on-campus room and board, as well as indirect expenses such as books, transportation, off-campus rent and personal expenses. A budget is determined for each student based on his/her place of residence and enrollment level.

Enrollment Level

On your Estimate of Financial Aid Eligibility and Financial Assistance Award letters, we indicate the number of credit hours we assume you will enroll in for each semester. Your financial aid award is based in part on this information. If the number of credit hours we assumed is incorrect, please print the Enrollment Verification Form (PDF) and return the completed form to OSFA.

It is not necessary to notify OSFA if your change in enrollment does not change your overall enrollment status (e.g., from full-time to part-time student). For more information about enrollment levels, see the charts above.

Special Circumstances

In the event that your family experiences a change of circumstance that will affect the financial situation for this academic year (loss of employment, death of a parent, etc.), you may complete a Special Circumstance Appeal to request a reevaluation of your financial aid eligibility. The form allows you to describe the financial changes in detail and the impact it has on your ability to meet your educational expenses.  Appropriate documentation (i.e., federal tax returns, medical bills, unemployment benefits statements) is required. Any award adjustment will be contingent upon your eligibility and the availability of funds.

Frequently asked questions about special circumstances

Award Revision

FAFSA information and any aid from outside sources influence the amount as well as the type(s) of assistance a student is eligible for. Changes to that information or receipt of additional awards may cause a reassessment of assistance eligibility and may result in the issuance of a revised award.

Applicants are required to notify OSFA in writing about any information change, including the receipt of any outside grants or scholarships, so that we can include those resources you are receiving.

Appeal Procedures

Any decision of the Office of Student Financial Assistance may be reviewed by appeal, providing the request is made within 21 calendar days from the date of the notification of the decision. All appeals should be submitted via a signed form (a list of appeal forms is available at http://www.luc.edu/finaid/forms.shtml). The appeal form (if a form is not available for the specific appeal, a letter can be provided by the students) will allow the student to explain the circumstances, how these circumstances impacted the situation, and provide non-returnable copies of supporting documentation to validate the circumstances.