Cost of Computer Purchase
The Higher Education Amendments of 1998 included a provision that allows an institution, on a case by case basis, to include in a student's cost of attendance ("COA") the actual, documented cost of a personal computer. Allowing inclusion of the cost is not based on any particular program of study or program requirement. The following policies and procedures will be in effect for Loyola undergraduate, graduate, and professional students:
- The maximum allowance for purchase of a computer is $2,500, which can include the cost of a printer.
- Requests for inclusion of costs for maintenance and / or repair of a computer will not be considered. However, the cost of a maintenance contract or extended warranty, purchased along with the computer can be included.
- The cost of software, printer cartridges, paper, monthly online service fees, etc. will be assumed to be covered by the books and supplies and miscellaneous allowances already included in the student's cost of attendance.
- Expenses for the cost of leasing a computer (as an option to purchasing) can be considered. The monthly lease amount for each academic year will be considered, up to a career maximum of $2,500.
- In order to have the cost of the purchase of a computer added to the cost of attendance, the student must provide a written request to the Financial Aid Office, with a dated receipt/proof of purchase attached. Therefore, the computer must be purchased prior to the request for coverage .
- The purchase must have occurred no earlier than 90 days prior to the request.
- Inclusion of the cost of the computer (or an upgrade) will be allowed only once per program of study (once for undergraduate studies, once for graduate studies).
- Scholarship funds are not available to cover the cost of a computer. Students may apply for federal or alternative educational loan funds.
- Students should consult with a Financial Aid Counselor to find out about loan eligibility.
- Requests must be submitted no later than March 1st for the current academic year.
Updated November 12, 2009