2020-21 Academic Year
STEP 1: File the 2020-21 Free Application for Federal Student Aid (FAFSA)
Complete the FAFSA online using your FSA ID. New applicants must create a FSA ID. Once created, the FSA ID allows access to the applicant's data in several Federal Student Financial Aid systems and also serves as that person's electronic signature. The FAFSA website is https://studentaid.ed.gov/sa/fafsa. Loyola University's FAFSA Code Number is 002078.
A new fact sheet, "Creating and Using Your FSA ID," is now available to assist users.
STEP 2: Upon receipt of the electronic confirmation that your FAFSA has been processed, submit the following form to the office of financial aid
2020-21 Federal Direct Stafford Student Loan Graduate Information Sheet (online form)
In some cases, additional documentation may be required. You will be notified via your Loyola email account if additional documentation is needed to complete your application.
IMPORTANT INFORMATION FOR ALL NEW AND RENEWAL FINANCIAL AID APPLICANTS: Federal regulations require students who are receiving financial aid to 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.
ENROLLMENT REQUIREMENT: Federal Direct Stafford Loan regulations require a student to be enrolled at least half-time in a degree or certificate-granting program each term during the period of the loan. Half-time enrollment at Loyola is defined as a minimum of 6 credits per term (fall and spring) and a minimum of 3 credits (summer).
Eligibility for any type of federal student financial aid requires that a student be enrolled in courses leading to a degree or certificate. Your enrollment in courses that do not count toward the completion of your degree may result in the cancellation of your federal aid.
Federal Direct Stafford Loan Application Deadline
All application materials for a Federal Direct Stafford Loan must be completed and received by Loyola's 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 and may be reimbursed when the loan proceeds come through.
Student Loan Processing Deadline
The proceeds of student loans (federal and private) must be disbursed to Loyola University Maryland 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.