Frequently Asked Questions
You may be asking...
Submit the Free Application for Federal Student Aid (FAFSA). The information from the FAFSA will help us to determine the type of federal financial aid you are eligible to receive. Louisiana undergraduate students interested in applying for all available state aid programs (Including the"TOPS" Scholarship Program) also need to complete this form.
You will need the following documents: (You can complete the FAFSA using "estimated data." If you choose this option, you will need to send us a copy of all tax forms when they are completed and submitted to the Internal Revenue Service.)
Create your FSA ID https://studentaid.ed.gov/npas/index.htm, it is strongly recommend your and your parents (if you are dependent) create your FSA ID before you begin the FAFSA. This allows you to sign your FAFSA form electronically.
Your Federal Tax Return and all W-2 Forms
Your spouse's Federal Tax Return and all W-2 Forms (if applicable)
Your parents' Federal Tax Return and all W-2 Forms (if you are dependent)
Bank statements for checking, savings, and investment accounts
Log in fafsa.gov to apply
The FAFSA (with correct signatures) must be submitted by the priority deadline of February 15th of each year (incoming students) OR May 1 (returning students) . If the FAFSA is received late, you may only be considered forFederal Stafford Loans, Federal Grants, and Federal Parent PLUS Loan.
Our Title IV Code is 002016.
Your Expected Family Contribution (EFC) is the number that's used to determine your eligibility for federal student aid. The EFC is not the amount of money that your family must provide. Rather, you should think of the EFC as an index that colleges use to determine how much financial aid you would receive if you were to attend their school.
Need-based aid packages are calculated after the student has been
Accepted for Admission
Evaluated for all available institutional merit scholarships
Has submitted a processed Free Application for Federal Student Aid (FAFSA) to our office. We anticipate the first group of award packages for incoming students will be released late January.
Contact your financial aid counselor for additional instructions.
This may change your budget and therefore may decrease your Loyola Grant. Before you move off-campus, make sure you make a budget for the various costs associated with renting an apartment that you would not encounter as an on-campus student.
Undergraduate students whose permanent addresses are outside of the metropolitan New Orleans area are required to live on campus for their first two years of study.
Federal and state financial aid laws state that a student cannot receive a financial aid amount greater than the cost of attendance minus any other aid and their" Expected Family Contribution". If you completed your FAFSA with estimated income information OR if your FAFSA was randomly picked for verification by the Department of Education, your award will not be final until we receive all requested documents and make any needed adjustments to the original data you reported.
Awards may also be reduced if we discover a significant difference between the income and asset information reported on your FAFSA and the information documented on your 2012 federal tax returns.
Loyola University New Orleans is obligated to reduce your federal or state aid if outside aid or scholarships result in an over-award situation. For example, if a student receives a new scholarship midyear, causing him to be over awarded, then the aid package will need to be reduced to compensate for the scholarship. Had we known about this scholarship when the original financial aid package was calculated, the aid amount would have been lower in the original package. To adjust for an over-award, we normally reduce the Federal Subsidized or Unsubsidized loans OR Federal Work Study, before we would revise your remaining eligibility for grants.
Please do not submit tax forms unless specifically requested.
The FAFSA allows estimates for income and tax information if the applicant and/or applicant's parents have not yet completed federal tax forms for the ending calendar year. If you do an estimate, keep in mind that you must correct your FAFSA later (via FAFSA on the Web) with the actual tax figures, since you are obligated by law to report an accurate picture of your family's finances. We prefer that you file the FAFSA with estimates instead of waiting for a completed federal tax return, if waiting for your tax return will prevent you from meeting our priority-processing deadline. The priority deadline for completing the FAFSA for incoming students is February 15 each year.The priority deadline for returning students is May 1 of each year. Students whose FAFSAs are recorded after the priority application deadline will be considered late, and will likely only receive consideration for the federal Stafford loan, federal parent PLUS loan, and all federal grant programs.
The Office of Financial Aid is located in Thomas Hall , Room 410. Office hours are from 8:30 a.m. to 4:45 p.m., Monday through Friday. On Tuesday mornings, we have mandatory staff training from 8:30 - 9:30 a.m. We can be reached by phone at 504-865-3333, by FAX at 504-865-3233 or by e-mail at email@example.com.
Each student is assigned to a counselor by his or her last name, but can be seen by any financial aid counselor available.