Your Financial Aid Package
In This Section:
Before you make a final decision about the college you will attend, please be sure to CAREFULLY review the financial aid packages that you receive from each school so that you understand what aid is being offered and what expenses will need to be covered by your family.
Gift aid such as grants and scholarships are ideal, but limited. Students can choose to decline any federal student loans or work study awards that are included in their aid package.
- How Do I Compare Award Packages?"
- College Cost Comparison Tool from the Consumer Financial Protection Bureau
- College Affordability and Transparency Center
When doing so, consider the amount of your federally-calculated expected family contribution (EFC) and the amount offered in "self-help" aid such as work programs and student loans. There may also be unmet need—your need for aid that the school may be unable to fund—meaning that you or your parents may need to consider additonal financing options.
- Verification Requirements for Federal Aid Programs
- Federal Student Aid Penalties for Drug Convictions
- Additional Resources from the National Association of Student Financial Aid Administrators
Information About Your Loyola Aid Package
Renewal Requirements for Institutional Aid Programs:
- Merit Scholarships and Need-Based Grants
- Remember, if you qualified for the Campus Visit Tuition Credit, that is a one-time award
- PLEASE NOTE: Initial Scholarship and Grant awards are based on the assumption that a student will be enrolled on a full-time basis. If you choose to drop below full-time AND your tuition and fees are adjusted based on that change, your scholarship and grant will be proportionally adjusted based on your lower tuition charges.
Renewal Requirements for Louisiana Grant and Scholarship Programs:
Renewal Requirements for Federal Grants. Loans, and Work-Sudy Programs
- Students must annually complete the Free Application for Federal Student Aid ("FAFSA")
- Students must also maintain"satisfactory academic progress" towards completing their degree objectives
- Federal Student Aid At A Glance
- Understanding Your Financial Aid Award Package (Law)
- Understanding Your Financial Aid Award Package (incoming graduate + professional students)
Families need to carefully look at the estimated "cost of attendance" for the academic year as they will be responsible for meeting the difference between the cost and all aid received.
Keep in mind that your aid package may not cover all of your costs during the academic year.
- Tuition and Related Charges - Full time tuition for the 2013-2014 year will be $35,504. Average University fees will be approximately $1,106 PLUS a one time fee of $250 for New Student Orientation
- Cost of Attendance Worksheet
If you choose to utilize any federal loan program, remember you must repay that loan with interest. Remember to include that cost when you are looking at the overall costs of attending Loyola.
How Will I Receive My Aid? When Will I Receive a Bill?
NOTE FOR FEDERAL WORK STUDY RECIPIENTS: You will receive a paycheck based on the number of hours that you worked during the previous month. Most work study awards assume that students are working approximately 10 hours a week throughout the academic year. Pay is $7.25 /hour. Learn more at Student Employment
Updated April 20, 2013