Have a Summer Award and wondering what to do next?
- Registration for Summer
- Summer Financial Aid Process
- Undergraduate Enrollment Requirements
- Available Aid Programs - Undergraduate
- Graduate Enrollment Requirements
- Available Aid Programs - Graduate
- Summer Transfers
- Tuition Benefits
- Veteran Benefits
- Visiting Summer Students
- Loyola Students Studying Away During the Summer
To receive financial assistance for Summer Sessions, you must be registered at least half-time. See below for specific enrollment levels. No financial aid can be disbursed until your enrollment reaches at least half-time.
The Office of the Bursar blocks all student accounts with outstanding balances. These blocks prevent registration for future terms. The Bursar will not process any unblock requests for the Summer 2020 term and registration blocks will only be removed by the Bursar once all outstanding balances are paid in full.
The Financial Aid Office no longer requires a separate summer financial aid application. FAO will evaluate the aid eligibility for all students enrolled half-time in summer courses. You will receive an email with further information on your summer financial aid eligibility beginning in April.
Undergraduate and Graduate students who will be enrolled for summer and will graduate at the end of the summer session or the end of the fall semester, should contact the FAO office for more information about aid options.
Excluded Programs - Financial assistance is not available from the following programs for Summer Sessions:
- Nursing Student Loans
- Loyola University Grants and Scholarships
- Federal Supplemental Educational Opportunity Grant (SEOG)
- State of Illinois MAP Grant
- Federal Work Study - On and Off Campus
To receive federal financial assistance for Summer Sessions, you must register for at least six semester hours (half-time status). The credits may be taken in any one session or may be divided between sessions. If financial assistance is awarded based on your enrollment in both Summer Sessions and you drop the second session course AND your enrollment then becomes less than half time, financial aid disbursed previously may be adjusted for all sessions.
Undergraduate financial assistance may be available from the following programs if eligibility requirements are met, and funds are available:
- Under the Consolidated Appropriations Act of 2017, you may be eligible to receive Federal Pell Grant. Click here for more information.
- Direct Subsidized or Unsubsidized Federal Stafford Loans (available to students who did not borrow grade-level maximum amounts for the academic year)
- Direct Federal PLUS Loans
- Private Educational Loans (enrollment requirements are subject to the lender's discretion)
- Federal TEACH Grants
The process to borrow a Federal Direct PLUS loan during Summer 2020 is:
- Log onto StudentLoans.gov using the parent borrower’s FSA ID and password.
- Once logged in, choose the Apply for a PLUS Loan link. Be sure to select the correct aid year, summer is a trailer so summer 2020 would be part of the 2019-2020 aid year. This will start the credit check process for all borrowers and will direct new borrowers to complete a Master Promissory Note (MPN).
- Once Loyola is notified of the approval, the Direct PLUS Loan is certified and added to the financial aid award within 7-10 days.
- If the credit check is not approved, additional information will be provided so your parent can contact the Direct Loan Servicing Center to receive more specific information about the decision.
- PLUS Loan approvals must be received 10 days prior to the end of the term.
To receive federal assistance for Summer Sessions, you must be enrolled at least half-time. For students enrolled in quarter programs, half-time status in summer is defined as three credit hours; for semester programs, it is two credit hours. The credits may be taken in one session or may be divided between sessions.
Graduate financial assistance is available from the following programs, if eligibility requirements are met:
- Direct Unsubsidized Federal Stafford Loans (available only to students who did not borrow the maximum for the academic year)
- Direct Graduate PLUS Loans
- Private Educational Loans (there is no enrollment requirement for these loans)
- Federal TEACH Grants
The academic year maximum for a graduate student is a $20,500 Federal Stafford Loan.
The process to borrow a Federal Direct Graduate PLUS loan during Summer is:
- You must log onto StudentLoans.gov using FSA ID and password.
- Once logged in, click on Apply for a PLUS Loan Link. Be sure to select the correct aid year, summer is a trailer so summer 2020 would be part of the 2019-2020 aid year. This will start the credit check process for all borrowers and will direct new borrowers to complete a Master Promissory Note (MPN).
- Once Loyola is notified of the approval, the Graduate PLUS Loan is certified and added to the financial aid award within 7-10 days.
- If the credit check is not approved, additional information will be provided so you can contact the Direct Loan Servicing Center to receive more specific information about the decision.
- Graduate PLUS Loan approvals must be received 10 days prior to the end of the term.
Students who transfer into a degree program at Loyola and received financial assistance during the Fall and/or Spring term at another school should contact the FAO as soon as possible for specific instructions. Students should not assume receipt of the same financial assistance as was received at the previous school.
All employees, employee dependents and employee spouses who are undergraduate, degree-seeking students must complete a 2019-2020 FAFSA to receive tuition benefits for any Summer Session. Employees who are in graduate school on at least a half-time basis are also required to complete a FAFSA. Employees should contact the FAO office for more information.
Students who are eligible for Veterans Administration benefits who have not been enrolled at Loyola during the 2019-2020 academic year should contact Loyola's veterans' advisor at email@example.com after registration. All changes in enrollment must be properly reported to the veterans' advisor in the FAO. Note: The Illinois Veterans Grant cannot be used at private schools, such as Loyola.
Federal regulations allow a student to receive financial assistance only from the school from which he/she will receive a degree. A visiting student who attends Loyola for Summer Sessions only must arrange for a consortium agreement between the student's school and Loyola. This agreement allows the home school to award summer financial assistance, even though the student is enrolled at Loyola. Inquiries regarding consortium agreements should be directed to firstname.lastname@example.org.
Please note: Some schools do not allow participation in consortium agreements; your home school will determine your eligibility for a consortium agreement.