Loans through the unsubsidized Stafford Loan Program are limited to your total annual cost of education up to a maximum of $20,500 per academic year.
Federal regulations require students who are receiving financial aid make deliberate and measurable progress toward your degree in order to continue to receive financial aid. This requirement is referred to as Satisfactory Academic Progress or SAP. To review the policy for graduate students at Loyola University Maryland, visit the Satisfactory Academic Progress Policy web page.
The total cost of education is established using actual charges for tuition and fees and standard allowances for books and supplies and living expenses for the period of enrollment. The expected student contribution toward educational costs is determined using the information provided on the Free Application for Federal Student Aid (FAFSA).
NOTE: Stafford Student Loan regulations require a student to be enrolled on at least a half-time basis each term during the period of the loan. Half-time enrollment for graduate students is defined as a minimum of 6 credits per term (fall and spring terms) or 3 credits per term (summer sessions).
The information in this section will be used to construct your total annual cost of education. Students who are enrolled in full-time graduate programs (ELMBA, Executive MBA, PsyD, Speech-Language Pathology) are not required to fill in the number of credits they plan on registering for below since these programs have standard full-time tuition charges.
Students enrolled in all other graduate programs must indicate below the number of credits you plan to register for in each of the following terms:
Summer I 2013 (begins 5/30/13)
Summer II 2013 (begins 7/15/13)
Fall Term 2013 (begins 9/4/13)
Spring Term 2014 (begins 1/13/14)
Half-time enrollment is verified before loan proceeds are credited to a student's account. Loan proceeds will be withdrawn from a student's account in any term in which the student fails to maintain enrollment on at least a half-time basis.
If a student has permission from the department chairman or program director to take courses at another college or university for use toward his/her degree from Loyola University, the student must provide the financial aid office with documentation of registration at the other college or university.
The proceeds from Stafford Student Loans are disbursed in one, two or three equal payments based on the number of terms you plan to attend as indicated in the "Enrollment Information" section of the application form. Loan proceeds are deposited in the student's account upon confirmation that an electronic Federal Direct Stafford Loan promissory note has been completed. Also, all first-time borrowers through the Federal Direct Stafford Loan Program must complete Direct Stafford Loan "Entrance Counseling" before loan proceeds can be credited. Renewal applicants are not required to complete a new promissory note. Funds not needed to complete payment of University charges will be disbursed by check within the latter of 14 days after the first day of the enrollment period or 14 days after the credit balance occurs. Requests to decrease loan amounts cannot be processed for the remainder of the term after loan proceeds have been deposited into the student's account.
I certify that I will notify Loyola's office of financial aid immediately, in writing, if any of the following events occur:
- My failure to enroll for the number of credits indicated above
- My withdrawal from Loyola or my attendance at Loyola on a less that half-time basis (minimum of 6 credits per term for Fall and Spring Terms or 3 credits per term for Summer Sessions)
- My transfer from Loyola to another college or university
- If I change my name or address
- If I change my anticipated graduation/completion date
- If I am on an approved academic leave of absence
- If I receive financial assistance from any source
- If I become delinquent or am in default in the repayment of any existing Title IV student loan
Fields marked with * are required.