Loyola University Maryland

Office of Financial Aid

Graduate FAQs

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How do I apply for financial aid at Loyola University Maryland?
Aid application procedures for graduate students are available on our website. Graduate students are required to file the Free Application for Federal Student Aid (FAFSA) and the Federal Direct Student Stafford Loan Graduate Information Sheet. In some cases additional documentation may be required. You will be notified via your Loyola email account if additional documentation is needed to complete your application.   
 
What is Loyola University’s FAFSA school code?
Our FAFSA school code is 002078.

I probably don't qualify for aid. Should I apply for aid anyway?
Yes! Do not automatically assume that you will not qualify for need-based financial assistance. Allow Loyola to determine your eligibility. If you do not qualify for need-based forms of aid, you will be informed of non-need based student loan financing options.

What are the financial aid application deadlines?
We ask that graduate students have a completed application on file at least four weeks prior to when they want to use loan eligibility to register for classes. Maryland state residents who apply for aid through the state have a March 1 deadline for filing the FAFSA.

What if I miss the deadline?
We encourage you to still complete the application process. You may have to pay up front for your courses but will be reimbursed once the loan proceeds are credited to your student account.  

Is it necessary to file for financial aid each year?
Yes. Eligibility is based upon an annual review of the information submitted on the Free Application for Federal Student Aid (FAFSA). Annual changes in family income, assets, family size, and the number of dependent children enrolled in college will affect the annual expected family contribution toward educational expenses.

How will I be notified of my financial aid award?
Graduate students are notified via their Loyola University email account. The email will direct you to view your financial aid award in WebAdvisor and provide links to sign your Master Promissory note and complete Entrance Counseling if you are a new applicant.

When will I be notified of my financial aid award?
Graduate students who have a complete financial aid application on file will be notified on a rolling basis. Students who are applying for aid beginning with the summer semester are given priority over students beginning in Fall.  Fall financial aid applications are usually processed during the month of June.

Does Loyola offer grants or scholarships to graduate students?
Several academic departments have fellowship aid available. Contact the graduate program director or coordinator for more information on programs unique to each department.

What forms of aid are available to graduate students other than loans?
A limited number of graduate assistantships are offered to students enrolled on a full-time basis in the College of Arts and Sciences and School of Education. Applications for graduate assistantships may be obtained on the Loyola University web site.

The office of student life has a limited number of resident assistantship positions that are open to graduate students.  Students interested in these positions should contact the director of student life for an application and further information.

Loyola University Maryland offers a monthly payment plan for gradaute students enrolled during the fall and spring semesters. Students need only be registered for one course during the semester(s) in which the payment plan is used. The payment plan is not available for summer session enrollment. Tuition Management Services administers the graduate payment plan. To sign up visit, www.afford.com/loyolagrad

Do I need to be accepted for admission before I can apply for financial aid?
No. You may begin your application prior to being admitted however, your aid eligibility will not be determined until you have been admitted to the university.  

Can I transfer my aid from another school to Loyola University Maryland?
Loyola has specific application procedures for Federal Stafford Loan assistance. If you are planning to transfer to Loyola from another institution, please make sure you add Loyola to your FAFSA results as well as following the additional application procedures outlined on the graduate financial aid website, www.loyola.edu/financialaid. If you are a Maryland state aid recipient, you must contact the Maryland Higher Education Commission to have the aid transferred for use at Loyola University.

Can a graduate student receive Federal Work- Study or a Federal Pell grant?
Graduate students are not eligible for Federal Pell grant assistance and Loyola University restricts Federal Work-Study assistance to Undergraduate students.

Is financial aid available to cover summer courses?
Yes. Summer begins the new academic year and you may apply for loan assistance to cover summer, fall and spring.  Typically fellowship assistance from participating academic departments is only awarded during the fall and spring.

What if I have special circumstances?
Families who suffer significant losses of income due to temporary or long term loss of employment or the death of a wage earner, or families who incur significant medical expenses not covered by insurance may appeal for a mid-academic year review of the financial aid decision. In these unusual situations, Loyola University will use "current year" income rather than the "prior year" income to determine a change in financial aid eligibility. All requests for a mid-academic year review must be made in writing.