Loyola University Maryland understands that the costs associated with high quality education are of concern to students and their families. Accordingly, the University has been diligent in managing its resources and flexible in its approach so that a Jesuit education in the Loyola tradition is available to all who want to pursue it. This section outlines the costs for graduate students, including tuition and fees. Department and general fees are nonrefundable.
When official withdrawal is granted and has been properly approved, a refund of tuition will be made according to the schedules below. The date that determines the amount of refund is the date on which a written petition for official withdrawal from a course or courses is received by the department chair or appropriate administrator.
For students enrolled in programs where tuition is paid on a per credit basis (excluding Montessori):
Subsequently, no refund is made.
For students enrolled in programs with a flat rate tuition and all Montessori students in full-time academic year programs:
Subsequently, no refund is made.
The Financial Aid Office is required by federal statute to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed, or take a leave of absence prior to completing 60 percent of a payment period or term. Federal Title IV financial aid programs must be recalculated in these situations.
If a student leaves the institution prior to completing 60 percent of a payment period or term, the Financial Aid Office recalculates eligibility for Title IV funds. Recalculation is based on the percentage of earned aid using the following Federal Return of Title IV funds formula: percentage of payment period or term completed equals the number of days completed up to the withdrawal date, divided by the total days in the payment period or term. (Any break of five days or more is not counted as part of the days in the term.) This percentage is also the percentage of earned aid.
Funds are returned to the appropriate federal program based on the percentage of unearned aid using the following formula: aid to be returned equals 100 percent of the aid that could be disbursed, minus the percentage of earned aid, multiplied by the total amount of aid that could have been disbursed during the payment period or term.
If a student earned less aid than was disbursed, the institution would be required to return a portion of the funds, and the student would be required to return a portion of the funds. Keep in mind that when Title IV funds are returned, the student borrower may owe a debit balance to the institution.
If a student earned more aid than was disbursed, the institution would owe the student a post-withdrawal disbursement which must be paid within 120 days of the student's withdrawal. The institution must return the amount of Title IV funds for which it is responsible no later than 30 days after the date of the determination of the date of the student's withdrawal. Refunds are allocated in the following order:
Payment in full for tuition and all fees is required at the time of registration. Payment may be made by cash, personal check, money order, MasterCard, Discover, or American Express.
All registrations requiring third party billing, including tuition remission, must be accompanied by an immediately executable authorization (on official organization letterhead) or purchase order.
Students electing the Web registration option may pay by cash, personal check, money order, MasterCard, Discover, or American Express. Third party billing, employee tuition remission benefits, graduate assistantships, scholarships, and approved financial aid are also acceptable payment methods.
All payments or required payment authorization documents must be received by the University no later than 10 days after the registration request information is submitted via the Web. Failure to meet the 10-day due date may result in cancellation of the requested registration information. There will be no exceptions to this policy.
All application materials for a Federal Stafford Loan must be completed and received by the Financial Aid Office at least four weeks prior to registration to ensure that loan proceeds are available for payment of University charges. Late applicants must pay all University charges when registering for classes.
Semester promissory notes are available to all graduate students. Students who choose this option will receive documents for signature that are to be returned to the University within 10 days, along with the necessary down payment. A minimum of two classes is required, and a $35 administrative fee is applicable, and there is no course minimum. This option is available for the fall and spring semesters only.