A commitment to our students

At Loyola University Chicago, we understand planning to finance a college education, given the current economic situation, is overwhelming. We are living in uncertain times and some families may be adversely affected by the COVID-19 pandemic, now or sometime in the future. Our Ignatian mission calls us to respond to the needs of others and especially to the needs of our own community.

‘In light of this mission, we are offering to you, our students, The Loyola Commitment.’

Loyola commits to working with you as you continue to pursue a Loyola degree. Graduate and undergraduate students who have experienced a significant reduction in household income, causing financial hardship, may apply for assistance through The Loyola Commitment. Eligibility and priority will be given to those who have utilized all existing financial aid options, including loans.

Process for undergraduates
Process for graduates
Process for Undergraduate Students

Students in an associates or undergraduate degree program will need to follow these steps

  1. Have a 2021-2022 FAFSA application on file with the Financial Aid Office (if eligible, independent, International and DACA students, please see the note below).
  2. If your 2021-2022 FAFSA application was selected for federal verification by the U.S. Department of Education, you must complete verification. Loyola University Chicago has partnered with Inceptia to guide you through this federal process. This step must be completed before we can consider you for additional aid.
  3. Complete the Stafford Master Promissory Note  and Loan Entrance Counseling to borrow the federal Stafford Loan(s).
  4. Parents of dependent students must complete the Federal Parent PLUS Loan Application. If the parent of a dependent student is denied the Federal Parent PLUS Loan or ineligible to apply, the student must complete the Additional Unsubsidized Federal Stafford Loan Appeal form. This form allows the Financial Aid Office to increase the student’s federal Stafford Loan eligibility.
  5. Complete the Special Circumstance Appeal form with the Financial Aid Office and provide supporting documentation for your appeal. This appeal is your application to be considered for the Loyola Commitment. The Financial Aid Office will review your account to ensure you have exhausted all financial aid options as listed above.

Notes

  • Independent students can skip Step 4 because they are not eligible for the increase to their federal Stafford Loan(s) as they are already awarded the maximum amount.
  • International and undocumented students will be considered for funding from The Loyola Commitment. Students will need to complete the Special Circumstance Appeal form and provide supporting documentation.
Process for undergraduates
Process for graduates
Process for Graduate and Professional Students

Students in a graduate or professional degree program will need to follow these steps

To determine eligibility and level of support, students must have exhausted all financial aid options. Students must meet all requirements for aid eligibility including being in good academic standing (2.0 cumulative GPA) and the federal requirements for Satisfactory Academic Progress (SAP).  To help us determine your eligibility to receive Loyola Commitment funding, students must:

  1. Have a 2021-2022 FAFSA application on file with the Financial Aid Office (if eligible).
  2. Complete the Federal Graduate PLUS Loan Application.
  3. Complete the Stafford Master Promissory Note and Loan Entrance Counseling to borrow the federal Stafford Loan(s).
  4. Complete the Special Circumstances Appeal 2022-2023 form with the Financial Aid Office and provide supporting documentation for your appeal. This appeal is your application to be considered for the Loyola Commitment. The Financial Aid Office will review your account to ensure you have exhausted all financial aid options as listed above and will work with your specific program to determine funding sources.

Notes

  • International and undocumented students will be considered for funding from The Loyola Commitment. Students will need to complete the Special Circumstance Appeal form and provide supporting documentation.
Process for undergraduates
Process for graduates

Additional Resources

Funding provided by The Loyola Commitment will assist you with your direct expenses owed to Loyola University Chicago (i.e. tuition, fees, housing and meal plan). If you need financial support beyond your student account balance, we encourage you to connect with the Center for Student Assistance and Advocacy (CSAA). Led by the Office of the Dean of Students, CSAA will coordinate your concerns across the university to ensure you are getting the support you need.

In addition to the financial commitment to support students, we also made adjustments to help students and their families achieve the goal of completing a Loyola degree:

  • In some cases, a student who is not on track to graduate on time and is facing financial difficulties, may need to make the difficult decision to stop out of Loyola University Chicago and attend another college or university. Students in this situation are encouraged to meet with their academic advisor to discuss what course can be taken elsewhere that will transfer back to Loyola Chicago. Upon returning to Loyola, approved students will have their merit award reinstated and be eligible to apply for institutional support. Students must work with their academic advisor in these specific cases.
  • In some circumstances, we understand it is not possible to continue pursuing an education full-time.  If circumstances require you to drop below full-time to reduce their expenses, your merit award and Loyola Grant will be prorated to the part-time rate and be honored for an additional year (9th and 10th semesters of enrollment). These students will also be allowed to remain in their residence halls.