Loyola's Executive MBA program is located at our Chicago Water Tower Campus. Students in this program are eligible to receive the following types of financial assistance:
- Federal Direct Unsubsidized Stafford Loans
- Federal Direct Graduate PLUS Loans
- Alternative Student Loans
The total cost of the program, $84,258, will be divided between two financial aid years. Students who intend to borrow federal loans will need to file two FAFSA applications over the course of the program. The start date of your program will determine which FAFSA applications you will need to file.
Federal Stafford Loans
Students who are eligible to borrow through the Federal Stafford Loan program may borrow up to $41,000 in Unsubsidized Stafford Loans ($40,590 disbursed after 1% federal origination fees) over the course of the Executive MBA Program. Find your cohort below to determine your Stafford Loan disbursement schedule and FAFSA requirements:
Cohort Beginning Fall 2013 (2013-2014)
|Fall 2013 (August)|
|Must file 2013-2014 FAFSA|
|$10,250 Unsubsidized Stafford Loan|
Graduate PLUS/Alternative Student Loans
Even when maximizing the Federal Stafford Loan borrowing, students who are using loans to cover the entire cost of the Executive MBA Program will need to utilize additional resources. Approximately $41,610 would remain to be financed through other loans.
The Graduate PLUS Loan is another type of federal loan that EMBA students may use to finance the remaining cost of the program not covered by the Unsubsidized Stafford Loan. Graduate PLUS loans are approved based on a credit check, so in addition to completing the FAFSA, students interested in borrowing this type of loan must apply at www.studentloans.gov. Students who are not approved to borrow the Graduate PLUS loan on their own may use an endorser to cosign..
Alternative student loans are loans provided by private educational lenders. These loans do not have the same federal restrictions for disbursement and can be set up to disburse according to the amounts needed to pay the remaining installments.
Each of these loans are credit based with different terms and conditions, so students are encouraged to research the loans before starting the process of borrowing.
To learn more consult Your Guide to Financing a Loyola Graduate Education (PDF).