Loyola University Chicago

Financial Aid Office

Complete Withdrawal

The Office of Student Financial Assistance is required to recalculate financial aid eligibility for students who completely withdraw, drop out, are dismissed or take a leave of absence prior to completing more than 60% of a term, and for those who do not successfully complete at least one course in a term. After the last day for cancellation of registration, you may withdraw from school with permission from the appropriate dean. You may be eligible for a refund depending on your date of withdrawal.

Financial assistance awards that pay a part or all of your charges are prorated according to the percentage of the semester that has elapsed. They are distributed according to federal regulation. Refunds for federal (Title IV) assistance recipients will be prorated in accordance with the Higher Education Amendments of 1999 and any related regulations.

Federal regulations require that monies be refunded in the following order:

  1. Unsubsidized Federal Stafford Loan
  2. Subsidized Federal Stafford Loan
  3. Federal Perkins Loan
  4. Federal PLUS Loan
  5. Federal Pell Grant
  6. Academic Competitiveness Grant
  7. National SMART Grant
  8. Federal Supplemental Education Opportunity Grant
  9. TEACH Grant
  10. Other Title IV Aid Programs
  11. Other federal, state, private or institutional assistance
  12. The student's payments

It is the student's responsibility to inform his/her academic dean that he/she is leaving the university. For the tuition adjustment schedule, refer to the Office of the Bursar website at: http://www.luc.edu/bursar.

Note: When you withdraw, your financial aid adjustments are not affected by tuition charges. All financial aid adjustments follow the policy outlined above.