Loyola University Chicago

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Loyola University Chicago

Financial Aid Office

absn financial aid award

Viewing Your Financial Aid Award

To-Do List

Disbursement Dates in LOCUS

Disbursement of Funds

Federal Stafford Loans

Reduce/Reject Stafford Loan

Eligibility for Additional ABSN Alternative Loan

 

Viewing Your Financial Aid Award      

To view your Financial Aid Award, log in to LOCUS (log in information will be provided by the School of Nursing). Go to the 'Finance' menu, look under 'View My Financial Aid Award' and choose the 'Aid Year' (i.e. 2010-2011 is Aid Year 2011.) 
If you are unable to view your Financial Aid Award in LOCUS, please e-mail OSFA.

To-Do List   

The 'To Do' list in the LOCUS Student Center describes any additional steps that need to be completed before aid disbursement. Please review this information now, and check back periodically to ensure all your requirements are up-to-date.

Disbursement Dates in LOCUS   

When you select 'View My Financial Aid Award' in LOCUS, you will see a Scheduled Disbursement Date for each financial aid award. This date represents the EARLIEST date that the award may be credited to your student account. For all loans, this date is the date when the lender will begin the disbursement process to the University, if you have completed the promissory note and entrance counseling requirements AND are enrolled at least half time.
 
Loan funds are typically received at the University 3-5 business days after that date (the Scheduled Disbursement Date). You will receive an email from OSFA when the funds are received by Loyola and are ready to be applied to your University account.

Disbursement of Funds   

If the disbursement amounts to more than your current charges, the Excess Credit will be refunded by the Office of the Bursar. These refunds are typically processed 3-5 business days following the date the funds are received at Loyola. Direct deposits to your personal bank account would be typically 2-3 business days following the date a refund is processed. To sign-up for direct deposit, go to the 'Finance' menu and choose the ‘Refund Direct Deposit Profile’ link.

Federal Stafford Loans   

Federal Stafford Loans are awarded based on your demonstrated financial need (determined
from the FAFSA results and cost of your program and living expenses).  Loans may be subsidized or unsubsidized and are awarded in accordance with federal academic year and program maximums (ABSN students are fifth year undergraduate students).
 
If you did not borrow a Federal Stafford Loan at Loyola during the last academic year, you must:

Reduce/Reject Stafford Loan               

If you want to Reduce/Cancel the loan(s) offered, log into LOCUS and under 'View My Financial Aid Award', choose ACCEPT/DECLINE AWARD.

Eligibility for Additional ABSN Alternative Loan   

The amount listed as [Eligibility for ABSN AltLoan]] represents the maximum amount that you COULD borrow through a credit-based alternative loan.  This amount reflects the estimated direct and indirect costs associated with the academic year, less other aid. 
 
Loyola will be notified electronically by the lender if you are approved so that we may certify your eligibility for this loan.  You are encouraged to only borrow the amount that you actually determine that you need, rather than the maximum allowed.
 
For the January ABSN cohort, Loyola will certify your alternative loans between spring and summer, and fall and the following spring. For the August ABSN cohort, Loyola will certify your alternative loans between fall and spring, and summer and the following fall. If you have questions regarding the certification or disbursement schedule of your alternative loan, please e-mail OSFA.
 
Click here for more inforamtion about ABSN financial aid.


Loyola

Financial Aid Office · Sullivan Center · 6339 N. Sheridan Rd., Chicago, IL 60660 · 773.508.7704 · lufinaid@luc.edu
Mailing Address: 1032 W. Sheridan Rd., Chicago, IL 60660

Notice of Non-discriminatory Policy