Grants and Loans

Financial Aid Breakdown

There are many different types of financial aid. Grants and loans are two of the most common ones.

Student grants and loans are great ways for you to supplement your scholarship funds.

By completing the Free Application for Federal Student Aid (FAFSA), students automatically apply for the following need-based grants:

  • Loyola University Chicago Grants
  • Federal Pell Grant
  • Federal Supplemental Educational Opportunity Grant (SEOG)
  • State of Illinois Monetary Award program (MAP) Grant
  • Teacher Education Assistance for College and Higher Education (TEACH) Grant

Find out more about grants at Loyola.

At Loyola, you have several different student loan options: 

  • Federal Direct Stafford Loan. These loans are open to all students. In cases of need, the government will pay the student loan’s interest.
  • Federal Direct PLUS Loan. This is a loan borrowed by parents. The PLUS Loan has a fixed interest rate.
  • Perkins Loan. This loan is available for students with a significant financial need.
  • Nursing Student Loan. These loans are intended for full time students in the Marcella Niehoff School of Nursing who have a demonstrated financial need.

Learn more about student loans, outside lenders, and loan requirements.

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