The Office of Scholarships and Financial Aid provides information for and administers all aid programs on campus. For more complete information, please contact that office by phone at (504) 865-3231, by e-mail at finaid@loyno.edu, or by the web at www.loyno.edu/financialaid.
Find out more with the links below:
The Office of Scholarships and Financial Aid provides information for and administers all aid programs on campus.
LOANS
Long-term, low-interest loans provide students with an opportunity to borrow a part of the costs of education. The loans must be repaid when you are no longer enrolled “at least half time” at an approved school. Borrowers must be able to demonstrate financial need. Student loans are also available to non-needy students, or for amounts that exceed calculated need. Terms are not as attractive as for traditional student loans, because in-school interest payments are required.
To apply for financial aid, complete a need analysis report, the FAFSA, readily available from high school guidance offices and college financial aid offices in your own area.
Your scholarships and financial aid file is not considered to be complete and cannot be evaluated until your FAFSA has been submitted and you have been admitted to the university. You may expect a response from Loyola to your request for financial assistance within six weeks after you mail your FAFSA to the processor, provided that you have been admitted to the university.
You are urged to apply well in advance of the beginning of the enrollment period. Offers which can be made before May 1 are considered timely.
How much financial aid a student receives depends upon what his or her need is. Need is the difference between the cost of education and what you and your family should be able to pay. Loyola bases the student/family contribution upon information provided on the FAFSA.
Loyola University New Orleans, In accordance with Federal Regulations, reviews all students’ academic records to determine if each student is making Satisfactory Academic Progress towards earning their degree. This review is conducted at the conclusion of each payment period and includes both qualitative and quantitative requirements.
All students enrolled in undergraduate programs leading to a bachelor’s degree, must have a minimum cumulative Grade Point Average of 2.0 or higher after 4 semester of enrollment and successfully complete at least 66.67% of attempted credit hours. Incomplete grades (I), Failed (F) or Withdrawn (W) will be considered attempted credits but not successfully completed. Also, all transfer credits accepted towards degree requirements will be included in attempted and earned credits. Each multiple attempt at any given course, will count towards attempted credits regardless of how they are treated in a student’s GPA. Student’s that change major will have all courses taking into consideration for both the GPA requirement and the completion requirement.
If a student is found to not be making Satisfactory Academic Progress they will be granted one financial aid warning semester. The student will be notified in writing concerning this status and will have one payment period during which they can continue to receive federal financial aid, to regain Satisfactory Academic Progress. Financial Aid Warning is not appealable. If at the end of the warning period the student is not making SAP, they will receive notification that they are not eligible to receive federal financial aid.
Students found to be ineligible for financial aid, will be advised of their right to appeal and given clear instructions concerning the criteria and documentation for an appeal. Specifically, appeals should include detailed explanation concerning what caused the academic issues, how those have been addressed and what will be done to gain and maintain SAP in the future. Any appeal based on illness or medical treatment will need to include supporting documentation. Additionally, any student with a cumulative GPA below 2.0 is required to submit an academic plan designed in conjuncture with their academic advisor or the academic support center.
If an appeal is approved, one semester of financial aid probation will be granted. Probationary Students are eligible to receive federal financial aid for one payment period. If at the end of that payment period SAP standards have not been met, students will be found to be ineligible for federal aid. A subsequent appeal may be submitted but will be closely reviewed to determine if the student honored the academic plan and if sufficient progress was made towards improving GPA and/or completion percentage.
All of the above policies will be applied to students enrolled in Graduate programs, except that the GPA requirement will be evaluated at the end of the first payment period, rather than the 4th semester.