|Message Sent To:||All Students|
|Message From:||Message from the Office of the President|
|Date Sent:||Wednesday, January 27, 2021 03:30 PM CST|
Update on 2021-2022 Tuition and Fees
NOTE: This message was shared with most undergraduate students. Versions of this message were also shared with undergraduate nursing students and graduate students to reflect tuition nuances.
January 27, 2021
At this time of year, we customarily communicate about tuition and fees for the upcoming academic year to enable students and families adequate time for financial planning.
For 2021-2022, the Loyola University Chicago Board of Trustees has approved a 2 percent increase in undergraduate tuition. This percentage increase represents the smallest tuition increase at Loyola in over a decade. For a full-time undergraduate student, this equates to an additional $910 for the academic year when compared with our current tuition rate.
In parallel, the University has undertaken other measures for 2021-2022 to limit increased student costs. These include freezing the Student Activity and Technology fees at current levels and maintaining competitive and affordable room and board rates.
Room rates will be adjusted to reflect our priority of providing a blend of both private and double rooms for the fall 2021 semester, while keeping the overall housing rates within 2 percent of this year’s rates. Published meal plan rates reflect the maximum amount students and families should expect to pay. We will continue to explore various meal plan options with different rates.
The decision to increase tuition during a prolonged public health crisis was a difficult one and was made only after careful reflection and analysis. We know that many of our students and their families are facing a variety of pressures and concerns as a result of COVID-19. Loyola, like other universities and colleges, is also experiencing increased expenses as we prioritize the health and safety of our students, faculty, and staff as we return to campus in legally allowed, medically advisable phases.
In previous messages, we have shared our own financial stewardship and cost-containment efforts. When determining the rate of this future increase, University leadership and the Board kept students and families at the forefront. This was done while carefully balancing the University’s most essential operating needs and strategic priorities against inflation and the financial and economic pressures facing members of our community.
We strive to balance Loyola‘s mission and commitment to educational excellence with educational access and affordability for all students. During this pandemic, Loyola continued to seek ways to assist students and maximize the support they receive through financial aid. For the 2020-2021 academic year, we expect to award more than $250 million in total financial aid—the most the University has ever awarded. In addition, in 2021-2022, we plan to commit over $250 million in financial aid for undergraduate and graduate students.
The pending 2 percent tuition increase will support important operational investments that allow Loyola to continue delivering the high-quality Jesuit education our students expect and the services they can access to aid their progress. As we continue to navigate the pandemic, we are strengthening academic advising, career services, and support for student success, while also enhancing student mental health and wellness services.
On the academic side, the tuition increase will support funding for new and innovative schools and programs that are the foundation of a meaningful, interdisciplinary education. The Parkinson School of Health Sciences and Public Health, Loyola's new School of Environmental Sustainability, and the forthcoming Institute for Racial Justice (which is slated to open in the fall of 2021) are a few examples.
Accordingly, the University will continue to invest in the recruitment and retention of new, diverse faculty who will bring their unique perspectives and scholarship, further enhancing Loyola’s excellence in teaching and cutting-edge research.
In addition, we continue to make technology infrastructure improvements to sustain academic and research competitiveness and ensure a robust student learning experience with connectivity in and out of the classroom.
For details about tuition, fees, and room rates for the 2021–2022 academic year, please visit LUC.edu/bursar. We invite you to reach out to the Financial Aid Office or Bursar’s Office with any questions regarding financial aid, payment plan options, and other assistance.
We thank you for your continued commitment to your Loyola education and achieving your academic goals as people for others.
Jo Ann Rooney, JD, LLM, EdD
Senior Vice President, Chief Financial Officer, Chief Business Officer