Finalizing My Award
Finalizing your financial aid award is easy! Once Loyola University has received your FAFSA information, the Office of Financial Aid will calculate your estimated eligibility for the financial aid programs offered at the University. We will send you a Financial Aid Award Packet to your home address. You can also view your financial aid award online through the Loyola Online Records Access (LORA) system.
Your Financial Aid Award Packet tells you what kinds of financial aid you qualify for and how much you have been offered.
A small percentage of all FAFSA applicants are selected for verification by the U.S. Department of Education. If your FAFSA is selected for verification, your financial aid award will remain tentative until you submit the necessary forms. You will be asked to submit supporting documents for verification.
In just Four Easy Steps you can create your account and submit your documentation.
1. Go to http://loyno.verifymyfafsa.com
2. Click ‘Create Account’ link, you must have your student ID #: «AltId» to complete
3. Enter/confirm your student information
4. Click ‘Create Account’ button
Once your account is created, any required tasks you need to complete will become available.
Your Success, Our Top Priority
Providing the best student experience is important to us. Loyola Office of Financial Aid wants you to be able to complete your verification forms for financial aid on your own time, on the device of your preference.
We are here to assist you so please reach out if you have questions!
Accepting Your Financial Aid Award
If you accept your financial aid award, then complete the following steps:
If your financial aid award includes a Federal Direct Student Loan:
- Complete your Entrance Counseling
- Complete a loan agreement (Master Promissory Note)
- Visit studentaid.gov for more information
If you wish to DECLINE the student loans or change any amounts to the loans please email us at email@example.com.
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. Applicants must be creditworthy, and filing the FAFSA is required. Parent PLUS Loans are not certified until you’ve been accepted to Loyola and paid a commitment deposit to attend the University.
Your parents should use studentaid.gov for additional information when they are ready to start a PLUS loan application. Parents will need the same PIN used for the FAFSA when completing the loan application.
Helpful tips for applying for the Parent PLUS loan:
- The PLUS loan must be in the student’s parents name. Dependent students cannot borrow from this loan program.
- If the parent is denied the PLUS the student may request an additional Federal Direct Unsubsidized loan.
Private Student Loan Information
A Private Alternative Student Loan is a non-federal loan provided by an outside resource such as a bank or lending institution. Applications are submitted directly to the lender you choose. Interest rates as well as terms and conditions vary among lenders. Students and parents are encouraged to visit multiple lenders’ to compare and review interest rates, repayment options, fees charged and borrower benefits.