Your Financial Aid Award letter will detail the amount of financial aid that you will receive. Financial aid is disbursed in equal halves twice per year, at the start of each semester. Thus, your award letter will show you the amount of aid you are due to receive per semester and the total amount for the award year.
Once you’ve received your Financial Aid Award letter, you can estimate the remaining costs that you will be responsible to pay by filling out the Planning Worksheet.
You and your family have several options for meeting remaining costs. You can pay out of pocket, apply for private scholarships, or explore private loans and Parent PLUS loans.
Monthly Payment Plans
Loyola accepts monthly payments through TuitionPay from Sallie Mae and through Tuition Management Systems, Inc. Both corporations offer monthly plans with no interest. Amounts financed through monthly budget payment are limited to the billed charges (tuition, fees, residence hall, and board plan) less any scholarships and financial aid expected to be received.
Parent PLUS Loans
If you are a dependent student, your parent(s) can apply for a federal Parent PLUS Loan with a fixed interest rate of 6.41%.
Private student loans offered through banks can provide you and your family with another avenue for meeting your expected family contribution.