Scholarship Renewal Policy
Loyola academic scholarships are restricted to undergraduate tuition only and are renewable as outlined in your letter of admission. Scholarships are automatically renewable for undergraduate students who:
- Successfully complete consecutive full-time enrollment (12 credit hours or more) each semester*
- Maintain a 2.0 cumulative GPA after each semester
- Remain in good academic and disciplinary standing
- Academic scholarships can only be disbursed in equal portions for the fall and spring semester and cannot be used toward J-term, or summer school tuition.
- Students who choose to study abroad (excluding the John Felice Rome Center, and any other exchange programs) or attend another institution through a consortium agreement, forfeit scholarship eligibility for the term(s) away. These terms will not count toward the maximum terms of eligibility.
- Students are eligible for scholarship funding for up to eight consecutive semesters of full-time enrollment or until graduation from the undergraduate program, whichever comes first.
- If the student drops below full-time enrollment after the add/drop date for the semester and receives an adjustment to their tuition (see the Bursar withdrawal calendar), the scholarship amount will be pro-rated to cover the same percentage of charged tuition as if the student were enrolled full-time. Pro-rated scholarships count towards a term of eligibililty.
- In the event a student receives both internal and external scholarship funding which is restricted to tuition only and the total amount exceeds tuition, the merit based scholarship will be adjusted first to insure that the total amount does not exceed tuition.
- Seniors who are in their final term of enrollment and do not need to be enrolled full-time may request the renewal of their merit based scholarship. However, the amount is adjusted to cover the same percentage of the charged tuition as it would if enrolled full-time.
- A portion of an awarded endowed scholarship may be used to fund part of a merit-based scholarship and/or need-based Loyola Grant.
*If a student wishes to take a gap semester and credits are not taken elsewhere, they may notify the Financial Aid Office upon their return to have the scholarship reinstated. Students who take courses elsewhere or do not attend Loyola for a full year will work with the Admission Office to determine their scholarship status (e.g. transfer student, readmitted freshman).