Federal Pell Grant
The Federal Pell Grant program is funded and administered by the U.S. Department of Education. Federal Pell Grants are usually awarded to undergraduates who have not earned a bachelor's or a professional degree (though in some cases, postbachelor's teacher preparation students may also be eligible). The U.S. Department of Education determines your eligibility for the Federal Pell Grant. Your Student Aid Report (SAR) indicates your eligibility for the grant. The Federal Pell Grant does not have to be repaid.
Students apply for the Pell Grant by completing the FAFSA. To qualify for a Federal Pell Grant, students must demonstrate significant financial need. Loyola University Chicago uses the Pell Grant Formula 1 schedule, which splits the total award equally between fall and spring. For 2016-2017 the maximum award is $5,815 for full-time students with an Expected Family Contribution (EFC) on the FAFSA of 0. As the EFC increases, the Pell Grant decreases. For 2016-2017 a student's EFC must be below 5,234 to qualify for a Pell Grant as a full-time student. In some cases, students may receive a prorated grant for 3/4, 1/2, and less than 1/2 time enrollment. Please contact the Financial Aid Office if you have questions about your Pell eligibility for part-time enrollment.