Applying for Undergraduate Aid
Students must complete the Free Application for Federal Student Aid (FAFSA) every year in order to be considered for all need-based federal, state, and institutional aid programs. Our FAFSA Code is 002016. We strongly encourage families to complete the FAFSA online.
- Application Deadlines (for 2010-2011 AND 2011-2012)
- More tools to help you complete (and understand!) the FAFSA
- Projected Changes for 2011-2012
"When Will I Receive My Financial Aid Package"
"Need-based" financial aid packages are calculated after a student is accepted AND we received their processed FAFSA data. Therefore, we recommend that incoming students complete and submit their FAFSA to the federal processor by the priority application deadline of February 15. The student’s custodial parent and that parent’s current spouse (if applicable) must complete the FAFSA. Parents can indicate that they are using "estimated data" when submitting the FAFSA.
Your eligibility for "need-based" assistance is based on two factors: the cost of attending Loyola University New Orleans and your family’s ability to pay.
Cost of Attendance
Cost is an estimate of the full expense associated with attending Loyola for the academic period described on the FAN– not merely the amount of the Loyola bill. Loyola does not directly bill for some of the costs. Included in our cost estimate are average tuition, fee, and book charges, and basic allowances for transportation and personal expenses. For local students commuting from home, the estimate also includes a commuter allowance; other students will have a room and board allowance added to the cost estimate. You can find current information on tuition and related charges from the Student Finance Office.
Ability to Pay
Family ability to pay is determined by a formula supplied by the U.S. Congress, and is based on information from the FAFSA. The results are forwarded to the schools you listed on the FAFSA to determine aid eligibility.
If the family ability to pay is lower than the cost, the difference is the student’s aid eligibility for need-based programs. The philosophy of the federal, state, and institutional need-based aid programs is that the family has the primary responsibility, to the extent that they are able, to contribute to the cost of attending college.
Aid recipients must enroll as described in the narrative section of the Financial Aid Notification (FAN) letter, otherwise, the award is not valid. Please note that for financial aid purposes, enrollment does not include audit or noncredit course work or courses for which you have already received credit.
For federal and state financial aid programs, a recipient must be:
- a high school graduate or hold a General Equivalency Diploma (GED);
- young men must register with the Federal Selective Service on their 18th birthday;
- enrolled at Loyola in a program leading to a degree.
- a U.S. citizen or permanent resident.
- maintain the standards outlined in the Undergraduate Satisfactory Academic Progress Policy
- not in default on any government loan, and not owing a refund on any previously received federal grant or loan.
It is important that both students and families understand Rights and Responsibilities of Federal Student Aid Recipients.
Updated March 9, 2013