Financial Aid and Tuition

Loyola 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, our financial aid program is designed to make Loyola affordable to those students we admit. Approximately 92 percent of all undergraduates receive some form of aid from federal, state, institutional, and private sources. Of that aid, 83 percent is a Loyola-funded scholarship or grant. Loyola also offers several merit-based scholarships, awarded to students based on their academic achievements.

Learn about the value of a Loyola education

$35,650 Average need-based financial aid package for first time students

92% of students receive some type of financial aid

$27,700 Average net price for first time students who received need-based aid

Need-Based Financial Aid

Need-based financial aid is administered by the office of financial aid.

Learn about the financial aid application process

Merit-Based Scholarships

All students are eligible to receive merit-based scholarships, and every student who completes an application for admission is automatically considered for merit scholarship funding.

First-Year Merit Scholarships

  • All first-year students will be considered for merit-based scholarships, including international, DACA, and undocumented applicants
  • No separate application is required
  • Merit scholarships for the 2020-2021 academic year range between $12,000 - $33,000 per year
  • If you receive a merit-based scholarship, you will be notified at the time of admission
  • Financial need is not a factor in determining merit-based scholarship eligibility
  • The undergraduate admission office administers three merit-based scholarships: the Presidential Scholarship, the Dean's Scholarship, and the Loyola Scholarship

Transfer Merit Scholarships

  • All transfer applicants are eligible to receive merit-based scholarships ranging from $15,000-$24,000
  • Eligibility is based on the student's academic performance in college-level coursework
  • Financial need is not a factor in determining merit-based scholarship eligibility