Frequently Asked Questions
Does the degree differ for the Executive MBA, Professional's MBA, or Emerging Leaders MBA program?
No, it is the same degree offered in different formats for different audiences. Students who graduate from any of these programs earn an MBA from Loyola University Maryland.
How many students will be in a class?
Class sizes range by program, with 22-35 students on average in a class.
How do I get to campus?
Our graduate centers are located in Timonium, MD and Columbia, MD.
Tuition & Financial Aid
Do I have to pay the tuition all at once?
Tuition billing schedules vary by program. Please contact the office of the program you are interested in to discuss billing schedules for the program or the office of financial aid to discuss financial aid options.
How much is tuition?
Tuition varies by program. The costs for the upcoming academic year are available online.
What is included in the tuition?
The tuition for the Executive MBA and Emerging Leaders MBA is all inclusive. It includes:
- Course material, including books and cases
- Residency accomdations
- Travel and accomodations for field studies
For the Professional's MBA, Master of Science in Finance, Cybersecurity Certificate, Accounting Certificate, and Master of Accounting tuition is based on a per credit hour basis.
What are the benefits of funding your graduate degree through loans?
A Federal Stafford Loan does not go into repayment until six months after a student either falls below half-time or finishes their program. Federal Direct unsubsidized Stafford Loans have a fixed interest rate of 6.8%. Although interest accrues while the student is in school, this interest rate is usually much better than the interest rate on a credit card. Students can choose to pay the interest or let it be added to the principal of the loan.
How common is it for MBA (or graduate) students to take out loans?
It is more common than you think to take out a loan. According to a report issued by the 2007-08 National Postsecondary Student Aid Study (NPSAS), roughly 55.5% of students seeking an MBA take out loans, with the average debt upon graduation being $31, 927.
A lot of MBA students will use loans to pay for their tuition up front because they don’t receive reimbursement from their employers until they receive a grade. The loan can then be paid with the reimbursement.
What is the process for taking out loans? How much time does the application take?
More about our application procedures for financial aid, including deadlines, processing time, and how you will be notified, can be found on the Loyola Financial Aid website, www.loyola.edu/financialaid.
How much can I borrow?
Students can borrow up to their full cost of attendance which includes tuition, registration fees, and a standard allowance for books and living expenses. The federal Stafford loan maximum per academic year is $20,500. A student can then apply for a Federal Graduate PLUS loan to make up the difference if needed. Graduate PLUS loans do require a credit check; however, the government is only looking for an adverse credit history, not a debt-to-income ratio.
Does Loyola offer scholarships to graduate students?
Merit based scholarships are available for the Executive MBA and Emerging Leaders MBA programs. First consideration is given to those who apply by the priority application deadlines for each program. A limited number of merit awards are also available for the Professional's MBA and M.S. in Finance programs. Early applicants with complete applications for the Professional's MBA and M.S. in Finance that apply by the priority deadlines are reviewed first for these awards based on availabilty.
Course waivers that lead to cost savings are available for qualified applicants of the Professional's MBA and Master of Science in Finance programs. An unofficial course waiver analysis form can be submitted.
What forms of aid are available to graduate students other than loans?
A limited number of graduate assistantships are offered to graduate students. A complete listing can be found at www.loyola.edu/graduateassistantships.
The office of student life has a limited number of resident assistantship positions that are open to graduate students. Students interested in these positions should contact the director of student life for an application and further information.
Do you offer a payment plan?
Student administrative services offers a monthly payment plan for graduate students during the fall and spring semesters. Students need only be registered for one course to have their payments divided into four equal installments. A $35-per-semester administrative fee and a course registration fee of $25 are not included in the plan. Visit the Loyola Tuition Management Systems site for more information.
Is financial aid available to cover summer courses?
Yes. Summer begins the new academic year and you may apply for loan assistance to cover summer, fall, and spring.
How can I learn more about financial aid?
To learn more about loans, scholarships, and financial assistance, please visit www.loyola.edu/financialaid
How often are information sessions held?
Information sessions are held at our Timonium and Columbia Graduate Centers throughout the year and we offer virtual information sessions about once a month. The full schedule and program specific registration is available online. We also encourage individual meetings. Please contact us to discuss a one-on-one meeting, or to arrange for class visits.
The ELMBA program information sessions are typically held monthly September through April. One-on-one visits are encouraged throughout the year.
Can I apply online?
Online applications are available for all programs, except Leadership Essentials. To apply, visit http://www.loyola.edu/sellinger/apply.aspx.
How should I submit official transcripts and letters of recommendation?
For the Executive MBA, Professional's MBA, Emerging Leaders MBA, Master of Science in Finance, Master's Plus, Master of Accounting, Accounting Certificate, and Cybersecurity Certificate, please have your transcripts and letters of recommendation sent to the following address or email (letters of recommendation need to be on official letterhead with an original signature):
Loyola University Maryland
Graduate Admission Processing Center
P.O. Box 1447
Beltsville, MD 20704
What if I received my bachelor’s degree from a university outside of the United States?
Applicants who received a degree from a university outside of the U.S. must have their transcripts evaluated by the World Education Service. The website to learn more may be found at www.wes.org.
What should the letters of recommendation say?
We look for evidence of leadership achievements and potential. Therefore, we encourage your referee to talk about your professional achievements, career progression, as well as important personal characteristics such as team leadership skills, drive, and determination.
Do I have to take the GMAT?
We prefer you take the GMAT for the Professional's MBA, Master of Science in Finance, Emerging Leaders MBA, and Master of Accounting; however, if you have already taken the GRE, it will be accepted. If you take the GRE your score will be converted to a predicted GMAT score. Plese refer to the GRE Comparison tool at www.ets.org to learn more.
The GMAT is waived for applicants to the Executive MBA program, and may be waived for those who meet certain academic or professional requirements for other programs. To request information on GMAT waiver, test dates, or review courses call 410-617-5067 or e-mail firstname.lastname@example.org.
GMAT review courses are offered by Loyola University Maryland. For more information visit the Loyola GMAT page.
Can I visit a class?
Yes, in most cases; there is no better way to “test drive” the program. Please contact us to discuss opportunities to visit a class.
Master in Accounting (MAcc) Program
Who is eligible for Loyola’s MAcc Program?
Loyola’s MAcc Program is designed for both Loyola and other students who have recently completed their undergraduate degree in accounting (or equivalent accounting course work) and are seeking the 30 additional credits required to obtain licensure as Certified Public Accountants (CPA).
How long does it take to complete Loyola’s MAcc Program via the traditional approach?
The MAcc Program is a 12 month period lock step cohort full time program specifically designed to allow students to begin classes and still start full-time employment in the fall. Classes will be offered in 3 hour blocks, over a 12 week semester. (Summer – 12 credits, Fall – 12 credits, Spring – 6 credits).
Is Loyola’s MAcc Program accredited?
Yes, Loyola’s Accounting Program is accredited by Association to Advance Collegiate Schools of Business (AACSB-International) AACSB, The International Association for Management Education. The Association is the only agency that accredits accounting programs in the United States and only 169 of the thousands of programs around the world are accredited.
Loyola’s Accounting Program is among the best in the nation. According to National Association of State Boards of Accountancy, (NASBA), in 2012 in our enrollment category, Loyola has the 8th best performance nationally. 51 candidates with Loyola bachelors-level degrees presented themselves as first-timers for one or more of the four sections of the CPA exam. The pass-rate was 74.5%, the highest among all first-timers with bachelor’s degrees from any Maryland institution.
Curriculum / Course Requirements
Do the 30 credit hours earned in this program count toward the 150-hour requirement that many states have in order to become a certified public accountant?
Yes. The 30 credit hours you earn in the program, when combined with an appropriate undergraduate degree, meet the 150 hours required by many states.
How do I find out what my state requirements are to become a CPA?
State requirements to become a CPA are found on the National Association of State Boards of Accountancy (NASBA) website: http://nasba.org/stateboards/
What is the benefit of enrolling in Loyola’s MAcc Program?
Since you’ll soon be taking an accounting-based exam, it might make sense to jump into a graduate-level program focused on that very subject. MAcc’s (Master’s of Accounting) focus is on technical accounting skills, so everything you’ll be learning will be applicable to the CPA Exam or your future career.