2013 - 2014
Undergraduate Catalogue

Financial Aid

GENERAL POLICIES

Loyola University Maryland believes that the cost of a high-quality education should not be a deterrent to prospective applicants. In recognition of the concern students and families have with finding adequate resources to meet these costs, Loyola's financial aid program is designed to make the University affordable to admitted students. Approximately 65 percent of all undergraduates receive some form of aid from federal, state, institutional, and private sources.

Loyola University Maryland is willing to share the financial responsibilities of attending college with students and their parents, but the University expects the primary or maximum effort to pay for college to come from students and their families. The system used to determine the family's capacity to pay contains the following assumptions:

  • To the extent they are capable, parents have the primary responsibility to pay for their children's education. Students, as well as their parents, have a responsibility to help pay for their education.
  • A family's capacity to pay, not willingness to pay, is measured by the need analysis system. Both income and assets contribute to the family's financial strength, and both should be considered when measuring capacity to pay.
  • The family's current circumstances (family size, income, and assets) form the basis for determining family capacity to pay.
  • When determining a student's financial need, colleges should recognize the student's educational expenses incurred during the academic year. Reasonable expense budgets should be established which allow for modest expense levels adequate for the student to participate fully in the academic life of the college.

Financial need is defined as the difference between the cost of attending Loyola and the amount the family is expected to contribute from income and assets. A student's cost of education is determined based on enrollment status, grade level, and housing status. Using federal and institutional formulae, the expected family contribution is determined annually.

If the full cost of attending Loyola is beyond reach, students are first expected to seek assistance from sources outside the University. Money from outside sources in the form of scholarships, grants, loans, and work programs is available through federal and state governments, as well as through private organizations. When these outside resources, combined with the student and parental contributions are still inadequate to meet the cost of attending Loyola, the University will assume the role as partner in meeting college costs.

It is assumed that families will make individual decisions about how to finance their share of educational costs using a combination of assets, current income, and borrowing against future income.

Application Procedures

Entering first-year and transfer students must complete the College Scholarship Service (CSS) PROFILE Application and the Free Application for Federal Student Aid (FAFSA). The CSS PROFILE Application and the FAFSA must be submitted by February 15, the financial aid deadline. Both applications must be filed online. The College Board's website is www.collegeboard.com, and the FAFSA website is www.fafsa.gov.

Currently enrolled students must complete the CSS PROFILE Application and the FAFSA by April 15. Financial aid application procedures are posted on the Financial Aid Office website, www.loyola.edu/financialaid.

Loan Processing Deadline

The proceeds of student and parent loans (federal, institutional, and private) must be disbursed to Loyola University and credited to a student's account no later than May 1. Therefore, all loan application procedures, including completion of the loan promissory note and final approval, should be completed at least two weeks prior to the May 1 processing deadline date.

LOYOLA PROGRAMS

Presidential Scholarships

These scholarships provide financial assistance to students of superior academic ability and achievement. Scholarships are limited to entering first-year students who, in the judgment of the Scholarship Committee, are most deserving of assistance because of academic merit. Students are selected on a competitive basis considering high school grade performance, course selection, rank in class, and strength of the high school. SAT/ACT scores are also considered if provided by the applicant. Financial need is not considered in awarding Presidential Scholarships. To be considered for a Presidential Scholarship a student must apply for admission to Loyola by January 15.

During the 2013-14 academic year, awards will range from $10,000 to $25,000. All Presidential Scholarships are awarded for four years, provided the student maintains the scholarship retention requirements specified in the original scholarship award letter.

Claver Scholarships

These scholarships provide financial assistance to African American, Hispanic, and Asian students. Scholarships are limited to entering first-year students who, in the judgment of the Scholarship Committee, are most deserving of assistance because of academic merit. Students are selected on a competitive basis considering high school grade performance, course selection, rank in class, and strength of the high school. SAT/ACT scores are also considered if provided by the applicant. Financial need is not considered in awarding Claver Scholarships. To be considered for a Claver Scholarship, a student must apply for admission to Loyola by January 15.

During the 2013-14 academic year the awards will range from $10,000 to $25,000. All Claver Scholarships are awarded for four years, provided the student maintains the scholarship retention requirements specified in the original scholarship award letter.

Marion Burk Knott Scholarships

Named in honor of his wife, the Marion Burk Knott Scholarships are made possible by a generous gift to the Archdiocese of Baltimore from Henry J. Knott, Baltimore businessman and philanthropist. These scholarships are four-year, full-tuition awards available on a competitive basis to Catholic students residing in the Archdiocese of Baltimore. Scholarships are limited to incoming first-year students who, in the judgment of the Scholarship Committee, are most deserving of assistance because of academic merit. Additional consideration is given to students demonstrating financial need. To be considered for a Marion Burk Knott Scholarship a student must apply for admission to Loyola by January 15.

Loyola Grants

Loyola Grants are awarded to students with exceptional financial need. These awards carry values of $200 to $38,500, depending on demonstrated financial need and availability of funds.

Claver Grants

Claver Grants are awarded to African American, Hispanic, and Asian students with exceptional financial need. These awards carry values of $200 to $38,500, depending on demonstrated financial need and availability of funds.

Athletic Grants

Athletic grants are awarded to students by the director of financial aid upon the recommendation of the director of athletics. Full and partial scholarships are available. Men may qualify for basketball, cross country, golf, lacrosse, soccer, and swimming and diving grants. Women may qualify for basketball, cross country, lacrosse, soccer, swimming and diving, tennis, or track and field grants. Financial need is not considered in awarding athletic grants.

Loyola Student Loan Program

This institutional loan program allows students who demonstrate institutional financial need and who are enrolled for at least 12 credits per term to borrow up to $2,000 for the first year of undergraduate study, $1,500 for the second year, and $1,000 per year for the third and fourth years. The minimum amount that may be borrowed through the program is $500.

The interest rate on Loyola Student Loans is fixed at 5.0 percent. Interest does not accrue to the borrower, nor does repayment begin on Loyola Student Loans until six months after termination of college enrollment on a full-time basis. Interest accrued during in-school and the grace period is paid by Loyola University Maryland. The repayment is up to 10 years, depending on the total amount borrowed. Loyola Student Loans do not carry an origination fee. First-time borrowers must complete a Loyola Student Loan master promissory note to borrow funds through this program. All borrowers must complete truth in lending documents to borrow funds through this program.

LOYOLA ENDOWED SCHOLARSHIP FUNDS

The following scholarship funds have been established and named in honor of friends and families of the Loyola community. Awards from these funds are made to students selected by the Office of Financial Aid according to criteria specified by the scholarship donor. Loyola University Maryland expresses its sincere appreciation to these individuals, families, and groups for their generous assistance to many deserving students.

AEGON USA Scholarship Fund
Stephen Alvarez Memorial Fund
American Council on Italian Matters of Maryland Fund
Armiger Family Memorial Scholarship Fund
Claudia N. Bailey Fund
Ralph E. Bailey Family Fund
George and Jane Baker Fund
William G. Baker, Jr. Memorial Fund
Johnny Bass Fund
Mary H. Biddison Fund
Boehl Family Scholarship Fund
Ellen T. Bogue Fund
Howard H. Burke Fund
Anna R. and Michael R. Cantaneo Scholarship Fund
Michael R. Canty Memorial Fund
Gerard F. Case, Jr. Memorial Fund
Daniel E. Cavanaugh, S.J. Fund
James and Gerry Cavanaugh Family Scholarship
Charles J. Cirelli & Sons Fund
Walter L. Clark Fund
W. Hayes Clarke Preministerial Fund
Class of 1993 Fund
Class of 1999 Fund
Class of 2000 Fund
Class of 2002 Fund
Class of 2007 Fund
Class of 2009 Fund
Class of 2011 Fund
Cochran Family Scholarship
Donald E. Cohill Fund
George and Eugene Conner Fund
Lawrence and Carolyn Conway Fund
Patrick J.and Winifred L. Coughlin Fund
Cross Country Scholarship Fund
Frank W. and Florence B. Cuccia Fund
Ralph A. DeChiaro Fund
Diane Geppi-Aikens Women's Lacrosse Fund
Didusch Memorial Fund
Erik R. Dietzel Memorial Scholarship Fund
James H. Donahoe, S.J. Memorial Award
Ann and Donal Doyle
H.A.B. Dunning Foundation Fund
Paul Eibeler
Kenneth H. Ekin Endowed Scholarship Fund
Christine Everitt Fund
Francis P. and Eleanor R. Fairbank Fund
Ferguson Family Fund
William and Mary Fisher Scholarship Fund
J. Richard and Stephanie Fredericks Men's Lacrosse Scholarship Fund
Rosalie Garrett Fund
James J. and Amanda Wesley Gartland Scholarship Fund
Isaac S. and Mary Josephine George Fund
Francis X. Giblin Fund
Aurora Granofsky Fund
Joan Daniels Green Memorial Fund
Mannes Greenberg Memorial Fund
Alan and Mary Greenblatt
Grillo Family Fellowship
Fred Grimmel Scholarship Fund
Grzymski Family Scholarship Fund
Adelaide M. Gunther Fund
Hanway Family Scholarship Fund
Mary A. Dudas Harris Fund
Edward S. Hauber, S.J. Fund
Emily Cotter Hauze Memorial Scholarship Fund
Joseph Healy Memorial Scholarship
William Randolph Hearst Fund
Herget Foundation Scholarship Fund
William J. Holman Fund
Mary and Sigmund Hyman Scholarship Fund
James J. Irvin and Nina Irvin Fund
Jesuit Community Scholarship Fund
John Jordan Economics Scholarship
Daniel Joseph Fund
Jeanett Joseph and Bertha Coblenz Joseph Fund
Jackson L. Kaphan Memorial Fund
Kashlak Family Scholarship Fund
James and Nora Sheridan Keelty Memorial Fund
Nicholas J. Kollman Family Scholarship
Milford F. Lackey Fund
Otto and Alice M. Lage Memorial Fund
Latchford Family Scholarship
Thomas J. Lawler Memorial Fund
Hannah Geldrich Leffman
Mary T. Linnane Scholarship Fund
D. & M. Liston Memorial Fund
Mary and Daniel Loughran Fund
Loyola University Maryland Alumni Association Scholarship
Helen Pise Malko Memorial Fund
Nick and Mary Mangione Family Scholarship
J. Goddard and Elizabeth S. Mattingly Fund
John McFadden Family Endowed Scholarship Fund
Daniel J. McGuire, S.J. Fund
Men's Lacrosse Scholarship Fund
Anne M. Merrick Fund
Joseph Meyerhoff Fund
George W. Mitchell Memorial Fund
John R. Mohler Fund
Thomas Murphy Fund
Kelly Murray Scholarship Fund
Josephine and Louis A. Natale, Sr. Fund
Ryan Newcomer Physics Scholarship
Donald F. Obrecht Fund
Mary O'Meara Memorial Fund
Frank and Betty Otenasek Fund
Perna Family Scholarship Fund
Paul J. Peroutka Fund
Alan Plotkin Memorial Fund
Joseph and Patricia Reiter Endowed Scholarship Fund
Garnet and Glenn Ridle Fund
Ridley Memorial Scholarship
Pat Roche Fund
William C. Rogers Fund
Bernard A. Saltysiak Fund
Joseph G. Schaffner, Sr. Fund
Joseph A. Sellinger, S.J., Community Service Fund
Joseph A. Sellinger, S.J., MBNA Fund
Joseph A. Sellinger Memorial Scholarship Fund
Senker Family Fund
Michael D. Sullivan Fund
Helen and Charles Toennies Fund
Robert Jay Turner Fund
Doris Van Doren Scholarship Fund
Gladys J. Vocci Justice and Frank J. Vocci '49 Endowed Scholarship
John E. Wise, S.J., Fund

Major Scholarship Contributors

The following organizations, corporations, and foundations have made major contributions to sponsored scholarship and other academic scholarship programs at Loyola. The University is most grateful to these groups for their generous support.

A. S. Abell Company
AEGON USA, Inc.
AIAC Virginia M. & Joseph M. Corasaniti Memorial
AIAC Anna Iacoboni Memorial
AIAC Camillo Iacoboni Memorial
AIAC Thomas and Shirley Iacoboni Memorial
AIAC Theodore Julio Memorial
AIAC Lancelotta Family Memorial
AIAC Nicholas B. Mangione
AIAC John & Concetta Matricciani Memorial
AIAC Pio & Rosa Morocco Memorial
AIAC Rev. Oreste Pandola Memorial
AIAC Angelo & Maria C. Russo Memorial
Alex. Brown & Sons, Inc.
Associated Italian American Charities of Maryland, Inc.
Baltimore Security Traders Society
Beta Gamma Sigma Honor Society
Black & Decker Manufacturing Company
Coopers and Lybrand, Inc.
ICFM BB&T
ICFM Baltimore Sun, Inc.
ICFM Becton Dickinson, Inc.
ICFM Bell Atlantic of Maryland
ICFM CareFirst
ICFM CBS, Inc.
ICFM Chevy Chase Bank, Inc.
ICFM Commercial Credit Corporation
ICFM Crown Central Petrolium, Inc.
ICFM Gudelsky Family
ICFM Legg Mason, Inc.
ICFM Linehan Family
ICFM Mercantile Safe Deposit and Trust, Inc.
ICFM Nationwide
ICFM Provident Bank of Maryland, Inc.
ICFM Rosemore, Inc.
ICFM Schaefer Scholarship
ICFM T. Rowe Price
ICFM United Parcel Service, Inc.
ICFM Verizon
Marion Burk Knott Scholarship Fund
Marion I. and Henry J. Knott Scholarship Fund
John J. Leidy Foundation
Lockheed Martin Corporation
Loyola University Maryland Alumni Association
Loyola University Maryland Center for Values and Service
Loyola University Maryland Greyhound Club
MBNA America Bank, N.A.
McCormick & Company, Inc.
William G. McGowan Charitable Fund, Inc.
Joseph Meyerhoff Fund
Mount Saint Agnes Alumnae Association
Sheridan Foundation
T. Rowe Price

Private Scholarship Donors

During the 2012-13 academic year, 270 Loyola undergraduates received a total of 330 scholarship awards from foundations, associations, high schools, colleges and universities, corporations, businesses, memorial funds, and various religious, civic, ethnic, and fraternal organizations. The University sincerely appreciates the generous support provided by these groups.

FEDERAL PROGRAMS

Federal Pell Grant Program

The largest federal need-based student aid program providing grant assistance ranging from $574 to $5,645 to undergraduate students who are enrolled in a degree or certificate program and have not received their first bachelorís degree. Eligibility is based on demonstrated financial need, cost of attendance, and enrollment status. The amount of the studentís award is determined using the Federal Institutional Student Information Record (ISIR) Expected Family Contribution (EFC) number and the Payment Schedule provided by the U.S. Department of Education.

Federal Campus-Based Programs

The Federal Supplemental Educational Opportunity Grant (SEOG), Federal Work-Study (FWS), and Federal Perkins Loan Programs are referred to as "campus-based" programs. Under these programs, institutions apply annually to the U.S. Department of Education for funds and receive these funds directly. The financial aid administrator at each school determines which applicants are eligible and how much aid each applicant will receive. While the U.S. Department of Education does set broad guidelines regarding the distribution of these funds, the individual schools set specific requirements, deadlines, and eligibility criteria.

Federal Supplemental Educational Opportunity Grant (SEOG)

Provides grant assistance to students with exceptional financial need. In awarding Supplemental Grants, priority is given to Pell Grant recipients with the highest demonstrated financial need. Loyola limits awards through this program to a maximum of $1,000 per year.

Federal Perkins Loan Program

Provides low interest loan assistance to students with demonstrated financial need. Perkins Loans carry the lowest interest rate of any educational loans (5.0 percent) and repayment is deferred until a student graduates or ceases enrollment on at least a halftime basis (6 credits). Repayment begins nine months after the borrower leaves school and must be completed within 10 years thereafter. Interest charges do not accrue until the signing of the repayment schedule. Interest after that date is paid at the rate of 5.0 percent per annum. Loyola limits awards through this program to a maximum of $1,000 per year.

Federal Work-Study Program (FWS)

Provides an opportunity for on-campus employment to students with demonstrated financial need. Various academic and administrative departments employ federal work-study students in clerical, operational and other office support functions. Working hours are generally limited to 10 to 15 hours per week. Students will be paid at hourly rates ranging from $7.25 to $8.50. Federal funds cover 75 percent of a studentís total wage, with the additional 25 percent being provided by Loyola.

William D. Ford Federal Direct Loan Programs

Federal Direct Stafford Loan Program (Subsidized)

Allows students who demonstrate federal financial aid eligibility and who are enrolled for at least six credits each term to borrow up to $3,500 for the first year of undergraduate study, $4,500 for the second year, and $5,500 per year for the third, fourth, and fifth years of undergraduate study. The interest rate is fixed at 6.8 percent. Repayment begins on subsidized Direct Stafford Loans six months after termination of college enrollment on at least a half-time basis. Interest accrued during the in-school period is paid by the federal government. The standard repayment period is up to 10 years. Subsidized Direct Stafford Loans carry a 1.0 percent federal origination fee. Net proceeds will equal 99.0 percent of the loan amount. New borrowers must complete an electronic Direct Stafford master promissory note to borrow funds through this program.

Federal Direct Stafford Loan Program (Unsubsidized)

Allows all students regardless of federal financial aid eligibility and who are enrolled for at least six credits per term to borrow up to $5,500 for the first year of undergraduate study; $6,500 for the second year; and $7,500 per year for the third, fourth, or fifth years of undergraduate study less the amount of any subsidized Direct Stafford Loan received by the student. The interest rate is fixed at 6.8 percent. The origination fee is the same as specified above under the description of the subsidized Direct Stafford Loan Program, however, interest accrual begins immediately during in-school and deferment periods. Interest accruing during those periods may be paid or capitalized.

Independent students may borrow up to an additional $4,000 per year for the first and second years of undergraduate study and up to an additional $5,000 per year for subsequent undergraduate study through the unsubsidized Direct Loan Program. Dependent students may borrow up to the same additional amounts through this program but only if the studentís parent is denied eligibility to borrow funds through the Federal Parent PLUS Loan Program.

Federal Direct PLUS Loan Program

Allows parents of undergraduate students who do not have an adverse credit history to borrow up to the full cost of education minus other financial aid. The maximum amount that a parent may borrow is displayed in the Other Resources section of the paper Financial Aid Award Notification and in the Financial Aid by Year section of WebAdvisor. The interest rate is fixed at 7.9 percent. Interest accrual begins on the date of the first loan disbursement. The first payment is due within 60 days after the final loan disbursement, or parents may defer payment while the student is enrolled as at least half-time. Direct PLUS Loans carry a 4.0 percent federal origination fee. Net proceeds will equal 96.0 percent of the loan amount. Parents who wish to borrow through the Direct PLUS program must complete the Federal Direct PLUS Loan Request for Supplemental Information online and sign an electronic master promissory note. To access to the PLUS Loan application process online, visit www.loyola.edu/financialaid.

STATE GRANT/SCHOLARSHIP PROGRAMS

The state of Maryland's General Assembly has enacted legislation creating several programs of grants and scholarships for students who need financial help to obtain a college education. More specific information on financial assistance available from the state of Maryland may be obtained by contacting:

Maryland Higher Education Commission

Office of Student Financial Assistance

839 Bestgate Road, Suite 400

Annapolis, MD 21401-3013

www.mhec.state.md.us

410-676-3300 or 800-974-0203

Howard P. Rawlings Educational Assistance Grants

Any Maryland high school senior or undergraduate student is eligible to apply for a Howard P. Rawlings Educational Assistance Grant. Awards are made by the State Scholarship Administration based upon the studentís demonstrated financial need. Grant values range from $400 to $3,000 per year. The award may be applied to the costs of tuition, mandatory fees, room, and board.

Grant recipients must be legal residents of Maryland; demonstrate financial need; and be accepted for admission as a full-time student (minimum 12 credits per semester) in one of the eligible, degree-granting institutions in the state of Maryland.

To be considered for an Educational Assistance Grant, students must submit the Free Application for Federal Student Aid (FAFSA) by March 1.

Howard P. Rawlings Guaranteed Access Grants

Any Maryland high school senior whose annual total family income is below 130 percent of the Federal poverty level is eligible to apply for a Howard P. Rawlings Guaranteed Access Grant. Awards are made by the State Scholarship Administration based upon the studentís annual total family income and high school grade point average. The grant amount equals 100 percent of the student's financial need. The minimum annual award is $400, and the maximum award is $15,900. Students may hold the Howard P. Rawlings Guaranteed Access Grant with all state awards, except the Howard P. Rawlings Educational Assistance Grant. The total dollar amount of all state awards may not exceed the student's cost of attendance, as determined by host institution's financial aid office or $19,000, whichever is less. Funds may not be available to award all eligible students.

Grant recipients must: be legal residents of Maryland; begin college within one year of completing high school; have successfully completed a college preparatory program and achieved an unweighted grade point average of at least 2.5 on a 4.0 scale; and be accepted for admission as a full-time student (minimum of 12 credits per semester) in one of the eligible degree-granting institutions in the state of Maryland.

To be considered for the grant, students must submit a Guaranteed Access Grant Application to the Maryland State Scholarship Administration and file the Free Application for Federal Student Aid (FAFSA) by March 1.

Senatorial Scholarships

State senators are allocated an annual scholarship budget which may be awarded to residents of their senatorial district. The amount of the award is determined by the senator, who considers the results of the student's SAT and financial need. The award amount varies. Students may hold the Senatorial Scholarship with all state awards. The total dollar amount of all state awards may not exceed the student's cost of attendance as determined by the host institution's financial aid office, or $19,000, whichever is less. Funds may not be available to award all eligible students.

Scholarship candidates who have already completed at least one academic year of college in good standing do not have to take the SAT. Application is made in the same manner as for Educational Assistance Grants. Students should apply by March 1 of the year the award is to begin. Each senator has the option of requiring a personal interview.

House of Delegates Scholarships

Members of the House of Delegates are allocated an annual scholarship budget which may be awarded to residents of their legislative district. The amount of the award is determined by the delegate who may select students on any basis. The maximum award may not exceed the student's cost of attendance as determined by the University's financial aid office or $19,000, whichever is less. Funds may not be available to award all eligible students.

Other State Scholarships/Grants

Depending on state regulations, students may be considered for scholarships and grants from their home state to be used at colleges or universities in the state of Maryland. Students should contact their appropriate state agency for information concerning application procedures.

NATIONAL FELLOWSHIPS AND SCHOLARSHIPS

Members of the Loyola National Fellowships Committee, together with the director of national fellowships, seek to identify, encourage, and assist qualified students for/in the pursuit of nationally competitive awards such as Jack Kent Cooke, Fulbright, Marshall, Mitchell, National Science Foundation, and Rhodes, for postbaccalaureate study abroad as well as in the United States. Students are also urged to aspire to Goldwater, National Security Education Program, Truman, Udall, and other awards that are applicable for specific programs of study during undergraduate years.

Successful Loyola participants in the campus application process have won 96 awards in national competitions since 1983. Compiling the strongest possible set of credentials for presentation to selections committees is quite a lengthy process; therefore, students are encouraged to get involved in their first year of study. Incoming first-year students are invited and urged to attend the various national fellowships workshops offered throughout the year to assist students in preparing strong and competitive applications for submission to various national scholarship opportunities.

ARMY ROTC SCHOLARSHIPS

The U.S. Army is interested in selecting the best candidates for scholarships, and ultimately, commissioning as the future officer leadership of the U.S. Army. ROTC scholarships cover full tuition and fees and provide $1,200 each year for books. Recipients also receive a tax-free subsistence allowance each month that classes are attended (up to ten months/year): $300/freshman year, $350/sophomore year, $450/junior year, and $500/senior year. Students from Towson University, the College of Notre Dame of Maryland, and Goucher College may also participate in the ROTC program through a cross-enrollment agreement with Loyola University Maryland. Students from local community colleges may participate in the program, but they must enroll at Loyola as special students. These students are also eligible to compete for a scholarship at their respective schools that will cover the same costs.

In addition to the scholarships applied for during a student's high school senior year, ROTC offers campus-based scholarships on a merit/performance basis. All eligible students, including seniors planning to pursue graduate degrees, may receive a campus-based scholarship. These scholarships cover the same expenses as the national scholarships.

Students who receive a scholarship through the National High School Scholarship Program and freshmen who receive a campus-based scholarship during the fall semester also receive a Loyola University Maryland Army ROTC Supplemental Grant. This grant covers full on-campus room costs, and it remains in effect each year, provided the cadet retains eligibility for the ROTC scholarship.

For additional information, contact the Department of Military Science, Loyola University Maryland, 4501 N. Charles Street, Baltimore, MD 21210-2699; 410-617-5179; talexander1@loyola.edu.

AIR FORCE ROTC SCHOLARSHIPS

Loyola University Maryland has an agreement with the University of Maryland College Park (UMCP) that allows Loyola students to participate in the Air Force ROTC Program at UMCP. The program allows a student to earn an undergraduate degree while training to become an Air Force officer. Students receive leadership training, are involved in community events, and visit active-duty Air Force bases. All course materials and uniform items are provided at no cost. Additionally, students can compete for Air Force ROTC Scholarships. For more information, contact the UMCP Air Force ROTC Department, 301-314-3242 or afrotcdet33@umd.edu.

MONTHLY PAYMENT PLAN

The convenience of paying educational expenses on a monthly basis is an attractive alternative to many families. If families need to use savings, current income, or loans, this option will make the payment easier. Loyola has partnered with a commercial plan available through Tuition Management Systems (TMS) to offer an interest-free monthly payment service for a one-time annual enrollment fee. The service allows families to make payments on the balance owed over a 10-month period. Questions about the plan should be directed to Tuition Management Systems, 171 Service Avenue, Suite 200, Warwick, RI 02886; www.afford.com/loyola; 1-800-722-4867; service@afford.com.

SATISFACTORY ACADEMIC PROGRESS AND RENEWAL OF AWARDS

Students awarded Presidential Scholarships, Claver Scholarships, Magis Awards, Clavius Awards, and Knott Scholarships must maintain the scholarship retention requirements specified in the original scholarship award letter. Except as otherwise noted in the individual program descriptions, all awards require that students be continuously enrolled for at least 12 credits per term. Students must notify the Office of Financial Aid if they fail to register for the required number of credits for any term in which they are receiving financial aid. If students are considering withdrawing from a course, they should first contact the Office of Financial Aid to determine what effect such action may have on their financial aid.

Federal regulations require that students receiving federal financial aid make satisfactory academic progress (SAP) in accordance with standards set by the University. Students are normally expected to complete their undergraduate degree within eight terms. Loyola University Maryland is not obligated to continue institutionally-funded forms of financial aid to students who require more than eight terms to complete degree requirements. However, federal regulations allow federal aid recipients to complete their degree in no more than 150 percent of the published length of the program in credit hours. Students who complete at least 67 percent of attempted credits are considered to be making satisfactory progress toward the completion of degree requirements if they achieve and maintain a 2.000 minimum grade point average by the end of their second year.

Students who fail to meet these quantitative and/or qualitative minimum standards will be denied financial aid. Students may regain eligibility by enrolling in the University at their own expense and resolving the deficiencies identified in the SAP review process. Students also have the option of submitting a written appeal explaining the special circumstances that contributed to their inability to make academic progress. A written academic plan may be required as part of the appeal review process. For more detail, the Financial Aid Satisfactory Academic Progress Policy is available on the Office of Financial Aid website, www.loyola.edu/financialaid.

Financial aid based on federal and institutional eligibility formulas is granted for one academic year only. The College Scholarship Service (CSS) PROFILE Application and the Free Application for Federal Student Aid (FAFSA) must be submitted each year that students are applying for financial aid. Renewal awards are based on continued demonstrated financial need and satisfactory academic progress toward a degree.

Students who are suspended from the University as a result of a violation of the Student Code of Conduct or the Honor Code will forfeit eligibility for institutionally-funded need-based grant assistance and academic scholarship assistance for additional semesters needed to complete an undergraduate degree. Academic scholarship recipients who are suspended from the University risk complete termination of the scholarship award.

FEDERAL STUDENT FINANCIAL AID PENALTIES FOR DRUG LAW VIOLATIONS

Under the Federal Higher Education Opportunity Act (HEOA), students who are convicted for any offense related to any federal or state law involving the possession or sale of illegal drugs will lose eligibility for any type of Title IV, HEA grant, loan, or work-study assistance. When filing the Free Application for Federal Student Aid (FAFSA), students are required to report if they have ever been convicted of any drug-related offense involving the possession or sale of illegal drugs. Failure to answer this question will automatically disqualify the student from eligibility for federal student aid programs. Knowingly providing false or misleading information on the FAFSA is considered a crime and can carry a fine of up to $10,000 or imprisonment. If a student is convicted while receiving assistance through any federal student aid program, the student must notify the University's Office of Financial Aid immediately. The student will be ineligible for further aid and required to repay all aid received after the conviction.

STUDENT STATUS CHANGES

Recipients of any type of federal, state, institutional, or private sources of financial aid must notify the Office of Financial Aid of any changes in their enrollment status including: failure to maintain full-time enrollment; withdrawal; transfer to another college or university; or change in anticipated graduation/completion date.

Federal legislation also requires Federal Direct Stafford Loan (subsidized or unsubsidized) recipients to notify their lenders (or any subsequent holder of their loans) in writing if any of the following events occur before a loan is repaid:

  • change of address;
  • change of name (e.g., maiden to married);
  • failure to enroll at least halftime for the loan period certified or at the school that certified the loan application;
  • withdrawal from school or attendance on less than a halftime basis;
  • transfer to another college or university;
  • change of employer or address of an employer;
  • an approved academic leave of absence;
  • any other changes in status that would affect the status of a loan.

Note: For federal aid purposes, a student who takes an academic leave of absence is considered to have withdrawn from the school and the federal refund requirements apply (see Federal Return of Title IV Funds Policy under Fees).

An academic leave of absence will affect a student's in-school status for the purposes of deferring student loans. The student's grace period begins on the date the student was last enrolled as at least halftime.

NATIONAL STUDENT CLEARINGHOUSE (NSC)

Loyola University Maryland uses the services of the NSC to process enrollment verification requests received from lenders, guaranty agencies, servicers, and the U.S. Department of Education. The U.S. Department of Education has ruled that a schoolís release of personally identifiable information from student education records to the Clearinghouse is in compliance with the Family Educational Rights and Privacy Act (FERPA).

NATIONAL STUDENT LOAN DATA SYSTEM (NSLDS)

The National Student Loan Data System (NSLDS) is the U.S. Department of Education's central database for student aid. It receives data from schools, agencies that guaranty loans, the Direct Loan program, and other U.S. Department of Education programs. In general, the agency that authorized the aid award is responsible for reporting aid information to NSLDS: specifically, Stafford Loans are reported by guaranty agencies; Direct Loans are reported by the Direct Loan Servicing Center; Perkins Loans are reported by schools (or their agents); and grants are reported by the U.S. Department of Education Common Origination and Disbursement System.

NSLDS provides a centralized, integrated view of Title IV loans and grants that are tracked through their entire cycle, from aid approval through closure. The NSLDS Student Access website (www.nslds.ed.gov) allows recipients of Title IV aid to access and inquire about their Title IV loans and/or grant data. The site displays information on loan and/or grant amounts, outstanding balances, loan statuses, disbursements, and loan servicers. This data is protected under federal privacy laws; detailed information governing its access can be found on the website.

FINANCIAL AID OFFICE CODE OF CONDUCT

The Higher Education Opportunity Act (HEOA) of 2008 requires institutions of higher education to develop and enforce a code of conduct that prohibits conflicts of interest for financial aid personnel. Additionally, as members of the National Association of Student Financial Aid Administrators (NASFAA), Loyola University Maryland financial aid personnel adhere to the NASFAA Statement of Ethical Principles and Code of Conduct which contains principles specific to the financial aid profession.

Consistent with the requirements of the HEOA and the NASFAA Statement, Loyola University Maryland has adopted a Code of Conduct for its financial aid professionals. Other University employees, officers, and agents with responsibilities in respect to education loans must also comply with this policy. For detailed information, visit www.loyola.edu/financialaid.

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