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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.

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.