January Term is a great opportunity for students to earn extra credits in a condensed, intensive two-week session.
Limited financial aid is available to students toward this term, to be applied to the tuition fees and book expenses of this term. Costs for the January Term must be processed through loans separate of those in place for Fall and Spring semesters. Aid for Fall/Spring is not available to meet the costs for January Term courses.
Note: No financial aid is available for living expenses, as the living expenses for this period of time are already included in the costs considered for Fall/Spring financial aid awards.
Impact of Incomplete Grades or Course Withdrawals for the January Term
It is in your best interest to complete all attempted course work for the January term. Incomplete grades or course withdrawals (W or WF Grades) on your transcript will not affect your GPA, however either of these grade statuses will directly affect your course completion rate as required by the Federal Satisfactory Academic Progress policy. For more information, please refer to the Satisfactory Academic Progress policy.
Types of Aid
Eligibility for these loan programs is based on the creditworthiness of the borrower. For most undergraduate students, a co-signer will also be required for a loan to be approved.
During January Term, Private Loans may be borrowed for the full tuition, fees and book supplies.
For more information or to borrow a private loan, click here to begin the application process.
Mandel short-term loan
Through the generous endowment of Carola and Leon Mandel, the University has a short-term loan fund available to be used during the January Term.
- Loan amounts are limited to $1,000 and a student may receive only one loan while enrolled at Loyola University Chicago.
More information or to borrow the e Mandel Loan, click here to begin the application process
Federal Direct Parent Loan for Undergraduate Students (PLUS)
This loan is a credit-based, unsubsidized loan for the parents of dependent undergraduate students.
During January term, PLUS Loans may be borrowed for the full tuition, fees and book supplies.
For more information or to borrow a PLUS loan, click here to begin the application process.
Veterans Educational Benefits (VA)
The Office of Student Financial Assistance (OSFA) participates in all applicable federal programs for veterans, servicepersons, and their dependents.
OSFA will electronically send the Certification of Enrollment (VA Form 22-1999b) to the VA on the first day of January Term. The VA will then process the enrollment certification. In the case of veterans eligible under the Post 9/11 GI Bill, the VA will release tuition payment to Loyola and begin processing your book stipends as soon as they process the 22-1999b. You will also receive an e-mail from firstname.lastname@example.org to notify you that your enrollment information has been processed by the VA.