Students are encouraged to research scholarships from local organizations, corporations, and foundations that align with their background, major, or interests. The information provided on the FAFSA is used to calculate the Expected Family Contribution (EFC), a key figure that determines eligibility for grants, work-study, and federal loans.
Affordable Higher Education Loyola Strategies
Exploring External and Private Funding In addition to the aid offered directly by the university, there is a vast landscape of external scholarships and private loans that can bridge the gap in funding. Merit-Based Scholarships: High-achieving students are often eligible for significant merit-based awards that can substantially lower the net price of attendance.
While private loans can be a viable option to cover remaining costs, they require careful consideration of interest rates and repayment terms, and should generally be pursued after exhausting all free aid and federal loan options. By thoroughly analyzing the COA, actively pursuing every form of financial aid and scholarship, and utilizing the resources provided by the university’s financial aid office, the goal of making a Loyola education a reality becomes significantly more attainable.
Affordable Higher Education Loyola Strategies
Financial Aid and Scholarship Opportunities Affordability at Loyola is heavily influenced by the robust financial aid and scholarship programs available to qualifying students. Upon admission, a demonstrated financial need is then met through a combination of grants, work-study, and loans, aiming to reduce the reliance on high-interest debt.
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