|Message Sent To:||All Faculty, All Staff, All Students|
|Message From:||Message from the Office of the President|
|Date Sent:||Saturday, March 28, 2020 04:22 PM CDT|
Addressing Students’ Financial Concerns
Dear Students, Faculty, and Staff,
During these unprecedented times, Loyola is extremely sensitive to the disruption and hardships our students and their families are experiencing. We want to assure you that the University is taking action in a number of ways to support our students financially. Please read the message below as it contains information that may be of help to you and includes instructions on where to go for that help.
- First, we want to be sure that you are aware of the resources available to students through Loyola’s Center for Student Assistance and Advocacy (CSAA), led by the Office of the Dean of Students, which provides support, coordination, case management, and resource referrals for student concerns across the University. While the focus of this communication is financial in nature, we want you to know that if you or another student is experiencing significant hardship and needs urgent assistance, the CSAA is a source of help for a wide variety of concerns that extend beyond those of a financial nature. The CSAA can be reached at https://www.luc.edu/csaa/
- As a result of our students moving off campus due to the COVID-19 pandemic, and because many local businesses have had to reduce their operations, we know that many students have not been able to continue in their work-study or other paid positions. The University is making every effort to keep as many students working remotely as possible, if they are able to perform their duties remotely at the direction of their manager. Additionally, any student working this semester, who is not working remotely and has accrued sick time can use their accrued hours by entering those hours in Kronos via the usual time card approval process.
- We are ensuring that Federal programs such as Federal Work Study (FWS) and Supplemental Educational Opportunity Grants (SEOG) are applied efficiently, while also giving priority to those students with the greatest financial need. As a result, students may see a reduction in their student account balance, which for some will reduce their remaining payments and for others it may result in a refund. Our Financial Aid team is reviewing student accounts and anticipates that adjustments will be completed by the end of the semester. No action is required on the part of students regarding FWS or SEOG.
- Loyola is increasing its capacity to extend hardship awards and other institutional financial aid for this academic year to apply against students’ accounts. Loyola’s Financial Aid team is available to assist students, on a case-by-case basis, to determine how students may benefit from available programs. The Financial Aid team can be reached at firstname.lastname@example.org
- Adjustments for housing, meal plans, and student development fees will be reflected on your student account, with any potential refunds issued in April. We determined that students would benefit most from an immediate account credit instead of crediting a future semester, as many universities have done. Please continue to monitor your LOCUS account summary by term. For students utilizing the Loyola Installment Plan (iPlan), we ask that you make your regularly scheduled installment payment based on your March 16 e-bill (payment due by April 5). For most students, the adjustment to prorate fees will mean that the final payment in May will be reduced.
In addition to these relief efforts, Loyola is also advocating at various federal, state, and local levels to ensure that the higher education community’s voice is heard. Some important developments include:
- The state of Illinois recently approved the payment of MAP grant funds for students who submitted their FAFSA after the original deadline. The University’s Financial Aid office will automatically make adjustments to affected students’ accounts. No action is required on the part of students.
- In the CARES Act, passed just this week by the U.S. Congress, the federal government designated funds for colleges and universities for the purpose of extending supplemental financial aid to students. Some of this financial relief will directly benefit qualifying students. We are eagerly awaiting details on this promising financial relief for students. We will keep you informed once this important financial assistance is available.
As a reminder, Loyola’s Financial Aid team is available to assist students with determining how they may benefit from available programs. We encourage students to reach out to Loyola’s Financial Aid team by email at email@example.com. Visit Loyola’s Financial Aid Office website for more information on eligibility and benefits.
In addition, Loyola’s Office of the Bursar is also available to respond to questions concerning student accounts and payment plans. The Bursar’s team can be reached at firstname.lastname@example.org
Finally, please remember that Loyola’s CSAA is a source of help for a wide variety of concerns that extend beyond those of a financial nature. The CSAA can be reached at https://www.luc.edu/csaa/
Thomas M. Kelly, Office of the President and Senior Vice President of Administrative Services