Loyola University Chicago

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Loyola University Chicago

Financial Aid Office

Additional Financing

You can combine financing options (for example, a payment plan and an alternative student loan) to find the method that works best for you and your family. You are strongly advised to have your additional financing plan—alternative loan, Federal PLUS Loan or payment plan—in place by early-August (for the fall term) or by mid-December (for the spring term).

The Bottom Line (Estimate)

The Bottom Line (Estimate) in the Campus Finances menu of Locus is a comparison tool for students and parents. It lets you see an estimate of the remaining balance for the academic year so you can compare the options (payment plan and/or additional loan) to pay that balance.

(Reminder:The best place to review the ACTUAL balance due is on the eBill.  Remember that the Bursar only bills for one term at a time.  The Bottom Line (Estimate) is not reflective of your actual charges, but is an estimate of basic charges for students. When reviewing the e-bill before the Fall term, remember to double the amount due on the Fall e-bill, so the loan and/or payment plans are set up to cover the entire year's balance.)

Alternative Loans: Student (credit-based) Loan

Please note that the private loan application process has changed. Click here for more information and extended steps of the borrowing process.

Federal Direct PLUS Loans: Loans (credit-based ) for:

Parents and graduate students can start the Federal Direct PLUS Loan process for Fall 2012/Spring 2013 now. The Department of Education will be the sole lender available for the Federal PLUS Loan program in 2012-2013. Go to StudentLoans.gov to start the process.

Federal Direct Parent Loans for Undergraduate Students (PLUS)

  1. Log onto StudentLoans.gov using the parent borrower's information and PIN.
  2. Once logged in, choose the REQUEST PLUS LOAN option. This will complete a new Master Promissory Note (MPN) for the Direct PLUS Loan and start the credit check process.
  3. Once Loyola is notified of the credit check, Loyola will email the results of the credit check.
  4. If approved, the Direct PLUS Loan is added to the financial aid award (Log into Locus at www.luc.edu/locus to VIEW FINANCIAL AID).
  5. If the credit check is not approved, additional information will be provided so your parent can contact the Direct Loan Serving Center to receive more specific information about the decision.

For a comparison of the Federal Direct PLUS Loan with other options, click here.

Federal Direct Graduate PLUS Loans (Grad PLUS)

  1. Log onto StudentLoans.gov using your (student) information and PIN.
  2. Once logged in, choose the REQUEST PLUS LOAN option. This will complete a new Master Promissory Note (MPN) for the Direct Graduate PLUS Loan and start the credit check process.
  3. Once Loyola is notified of the credit check, Loyola will email the results of the credit check.
  4. If approved, the Direct Graduate PLUS Loan is added to the financial aid award (Log into Locus at www.luc.edu/locus to VIEW FINANCIAL AID).
  5. If the credit check is not approved, additional information will be provided so you can contact the Direct Loan Serving Center to receive more specific information about the decision.

Payment plans

  1. Learn more about payment plans offered by the Office of the Bursar.
  2. Choose from the payment plan options available.

Loyola

Financial Aid Office · Sullivan Center · 6339 N. Sheridan Rd., Chicago, IL 60660 · 773.508.7704 · lufinaid@luc.edu
Mailing Address: 1032 W. Sheridan Rd., Chicago, IL 60660

Notice of Non-discriminatory Policy