Law students who need alternative loans in addition to Stafford funds should complete a different version of this form.
We would like to encourage all students to sign on to LORA to complete all online forms since that will provide additional security for your information.
Loyola offers a streamlined loan application process through participating lenders.
Through this process information from the student's aid application is
transmitted electronically when a student accepts an offer of a
Federal Stafford Loan and selects the streamlined process. The
lender will
send the student instructions for electronically "signing:a
partially completed application / promissory note. Students without Internet access can rquest that the lender mail them a traidtional paper application which they can complete and sign
this application / promissory note and return it for
processing. After a loan has been guaranteed, participating lenders send the
funds by electronic funds transfer and the funds are credited to the student's
account. By using this process students avoid the extra steps of obtaining a
loan application from a lender and of picking up a check and depositing it to
their student account.
PLEASE NOTE THAT STUDENTS CAN CHOOSE TO UTILIZE ANY LENDER THAT THEY DESIRE. The lenders that are participating in this streamlined process have worked with the University for several years and have a record of providing excellent service to our families.
Unless you notify us in writing, we will assume that students who have used the streamlined process in the past want to continue in the program with the same lender. This form should only be completed by students using the streamlined program for the first time.