Application Procedures for Returning Students
2024-25 Academic Year
Recorded Workshop: Important Changes for 2024-25 FAFSA
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, TAM 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.
Changes to the 2024-25 FAFSA
There are major changes coming to the Free Application for Federal Student Aid (FAFSA) application for the 2024-25 aid year. Historically, the FAFSA has been available beginning October 1 each year. Although it is now available, the 2024-25 FAFSA was delayed because of significant changes to the application and the rebuild of the FAFSA processing system. We will continue to monitor this progression and provide updates as they become available.
FAFSA Corrections
For those who have already submitted the FAFSA but need to make corrections, the Department of Education has announced that applicants may now make updates to your FAFSA form. Please visit the FAFSA website to access your existing 2024-25 form to make these changes as soon as possible.
Learn more about the changes to the 2024-25 FAFSA
Need-Based Financial Aid Deadline
Given the delay of the FAFSA release and the numerous processing system setbacks, we have extended the priority deadline to May 1, 2024.
Students are strongly encouraged to meet the May 1 priority deadline for maximum consideration for all forms of need-based financial assistance, including Maryland State grant assistance for Maryland residents. 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.
| Date of late FAFSA submission | Estimated grant eligibility |
|---|---|
| June 15 - June 30 | Up to 90% calculated Loyola grant eligibility |
| July 1 - July 31 | Up to 80% calculated Loyola grant eligibility |
| August 1 - August 31 | Up to 70% calculated Loyola grant eligibility |
| After August 31 | Up to 60% calculated Loyola grant eligibility |
| After the fall semester add/drop period | Up to 50% 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.