2023-24 Academic Year
Merit, Athletic, and Non-Need-Based Grant Aid
Students receiving the following awards and who are not interested in applying for need-based grants, loans, and work study are not required to complete the FAFSA for renewal: Presidential Scholarship, Dean’s Scholarship, Loyola Scholarship, Loyola Transfer Scholarship, Athletic Grants, Baltimore Diocesan Grant, Community College Grant, Evergreen Grant, Evergreen Community Grant, Family Grant, Legacy Grant, Magis Grant, and Phi Theta Kappa Grant. These awards are automatically renewed for students meeting the retention requirements.
Need-Based Financial Aid
Students must complete the FAFSA every year to be considered for aid from any of the following programs: Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Work-Study, Federal Direct Student Loans (subsidized and unsubsidized), Federal Direct Parent PLUS Loan, Maryland Educational Assistance Grant, Maryland Guaranteed Access Grant, and Loyola Grant.
2023-24 Free Application for Federal Student Aid (FAFSA)
Beginning with the 2022-23 academic year, Loyola no longer requires students who are U.S. citizens or eligible noncitizens to complete the CSS Profile.
Complete the FAFSA online using your FSA ID. Loyola University's FAFSA Code Number is 002078.
The deadline to complete the FAFSA is April 1. (Maryland Residents must file the FAFSA by March 1 for consideration of Maryland State grant assistance).
The best way to provide accurate income information on the FAFSA is by opting to use the IRS Data Retrieval Tool (DRT). This process allows eligible applicants and parents to automatically transfer tax return data from the IRS to your FAFSA. It assures accuracy, saves time, and minimizes processing delays. DRT also significantly reduces the chances of your FAFSA being selected for federal verification by the Department of Education (ED) or Loyola. Students who are selected for verification will be notified by both the financial aid office and ED if/when they need to provide additional documentation. Learn more about federal verification.
New Applicants (Students who have not filed a FAFSA for a previous academic year.)
Students and parents will need to create a FSA ID to complete the FAFSA. The FSA ID is a username and password combination that serves as your legal signature. It is also required to log in to U.S. Department of Education online systems. For assistance, please refer to the Creating and Using Your FSA ID fact sheet.
Need-Based Financial Aid Deadline
Students are strongly encouraged to meet the April 1 deadline for maximum consideration for all forms of need-based financial assistance. The funds available through the federal campus-based student aid programs (FSEOG and Federal Work Study) and Loyola's institutionally funded need-based grant program are limited. Late awards are not guaranteed and will be made on a funds available basis.
- FAFSA applications submitted between June 15 and June 30 - Up to 90% calculated Loyola grant eligibility.
- FAFSA applications submitted between July 1 and July 31 - Up to 80% calculated Loyola grant eligibility.
- FAFSA applications submitted between August 1 and August 31 - Up to 70% calculated Loyola grant eligibility.
- FAFSA applications submitted after August 31 - Up to 60% calculated Loyola grant eligibility.
Satisfactory Academic Progress
Students must be making Satisfactory Academic Progress (SAP) to receive federal, state, and Loyola need-based aid. SAP is defined as the successful completion of coursework toward your degree. The federal government requires the Office of Financial Aid to monitor SAP to ensure financial aid recipients make progress toward graduation.
Loyola Merit & Non-Need-Based Grant Retention Policy
Students receiving Loyola merit awards and Loyola non-need-based grants must meet enrollment and cumulative GPA retention requirements for renewal.
Financial Aid Eligibility Notification
Financial aid packages will be available via Self-Service by June 15. Students will be directed to Self-Service via your Loyola email account when your award is ready. Students selected for verification and/or are required to submit additional documentation as requested by the Office of Financial Aid will not be packaged until all required information is received. Monitor your financial aid self-service checklist and your Loyola email account to ensure your file is complete.