Loyola University Chicago participates in the U.S. Department of Education Quality Assurance Program. To meet program management responsibilities for financial assistance programs, Loyola verifies the accuracy of the applications of selected new and continuing financial assistance recipients. The selection of students within this program are made by Loyola University Chicago, using analysis of prior years’ applications for continuing students, rather than using the random selections made by the Central Processing System.
If a student has been selected for verification at Loyola University Chicago, a request will be made to submit a tax transcript together with all schedules and forms as you mailed it to the IRS. A student may also be asked to submit additional information about other factors including household size, assets and the number of family members in college. Additional verification forms can be found here.
If a student is selected for verification, no financial aid can be disbursed to the student's account until all requested documents are submitted and reviewed by OSFA.
To view any documents you may be required to submit, log into LOCUS, and view your To-Do List in the Student Center.
The verification process is intended to establish an accurate baseline award package for each student and reduce the amount of paperwork a student will be asked to submit in following years. However, tax returns or other documents may be required of renewal applicants if their application information appears to be inconsistent with that of the previous year(s). Verification documents need to be submitted by October 1 for the fall semester and February 15 for the spring semester.
In order to provide Estimates of Financial Aid Eligibility to students in an expedient manner, awards are calculated based on the original FAFSA data, and mailed before the verification process is complete. If corrections are needed as a result of the verification process, eligibility will be recalculated and awards may be revised. For this reason, student and parent information should be as accurate as possible on the FAFSA.
Verification is complete when Loyola University Chicago has all the requested documentation. If a student fails to provide the required documentation:
- Loyola University Chicago cannot disburse a Federal Pell Grant, Federal SEOG, National SMART, Federal ACG, Federal TEACH, State of Illinois Monetary Award Program (MAP), State of Illinois Silas Purnell IIA or Loyola Grant assistance to the student.
- Loyola University Chicago cannot hire or continue a student’s employment in an FWS job.
- Loyola University Chicago cannot disburse Federal Perkins, Federal Stafford or Federal PLUS Loan funds to the student.
All documents submitted to the Office of Student Financial Assistance at Loyola University Chicago are only reviewed by authorized staff in the office. All documents are scanned and the images saved in an encrypted database. The original documents submitted to the office are shredded to maintain security of the information. Safeguards in place are designed to insure the security and confidentiality of customer information, protect against any anticipated threats or hazards to the security or integrity of such information, and protect against unauthorized access to or use of such information that could result in substantial harm or inconvenience to any customer.