The Financial Aid Office reserves the right to review, adjust, or cancel awards at any time due to changes in academic status, enrollment status, verification, conflicting information, additional resources, fraud, availability of funds, federal or state regulations, and computation error. Some awards may be adjusted because of institutional policy. For instance, your scholarship award may replace Loyola Grant funds in which you may be asked to write a letter to the scholarship donor. Your eligibility for financial aid is contingent upon your compliance with all federal, state, and institutional policies and regulations that govern awards.
Several kinds of need-based programs are available to help you attend Loyola University Chicago, including: grants, which are not subject to repayment; self-help programs, which may take the form of a part-time employment program; or a low-interest loan with repayment deferred until after graduation.
The FAFSA is the application for all need-based grant programs at Loyola.
Loyola University Chicago Grants
Loyola assists full-time students by providing grant assistance awarded on the basis of financial need. To be considered for Loyola need-based assistance, the FAFSA should be mailed to the federal processor by Loyola’s March 1 priority application date.
Federal Pell Grant
The Federal Pell Grant program is funded and administered by the U.S. Department of Education. To qualify for a Federal Pell Grant, students must demonstrate significant financial need. The maximum award for 2010-2011 was $5,550.
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.
Federal Supplemental Educational Opportunity Grant (SEOG)
The Federal SEOG is a campus-based program. Students with exceptional financial need are given priority for these limited funds. SEOG is awarded to students who qualify for a Federal Pell Grant.
State of Illinois Monetary Award program (MAP) Grant
MAP grants are awarded to Illinois residents attending in-state colleges and universities. Illinois residents apply for the MAP grant by submitting a FAFSA. The maximum award for 2013-2014 was $4,720, which included a 5% reduction. Due to funding, the state suspended funding on or after March 2, 2013. The award is restricted to tuition and mandatory fees.
If you submitted a FAFSA in the last academic year, you must submit a renewal FAFSA to be eligible for full-year consideration for MAP. In recent years, processing has closed early in the financial aid process. It is to your advantage to apply as early as possible.
Grant Assistance for undergraduate or Graduate students
Teacher Education Assistance for College and Higher Education (TEACH) Grant
The Teacher Education Assistance for College and Higher Education (TEACH) Grant Program provides up to $4,000 per year for students admitted to an eligible teacher preparation program. Student applicants must teach full-time in high-need subject areas for at least four years at schools that serve students from low-income families or the grant is converted to an Unsubsidized Federal Stafford Loan.