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Summer Sessions

To receive financial assistance for Summer Sessions, you must be registered at least half-time. See below for specific enrollment levels.

No financial aid can be disbursed until your enrollment reaches at least half-time. If the enrollment is split between two terms and half-time is reached at the beginning of the second term, the aid will disburse at the beginning of the second term.

Easier Summer financial aid Process

The Office of Student Financial Assistance no longer requires a separate summer financial aid application!  Beginning in mid-March, OSFA will evaluate the aid eligibility for all students enrolled in summer courses.  You will receive an email with further information on your summer financial aid eligibility.  Emails will begin to be sent to students at the end of March.

Generally, students are only eligible for loans in the summer (because they have already used their financial aid in the fall and spring semesters).  See below for more information on the available programs.  Most students will access funds from the Federal PLUS, alternative or Graduate PLUS Loan to cover summer expenses, since grants and federal loans are used in their entirety during the academic year.

Undergraduate students who will be enrolled for summer and will graduate at the end of the summer session or the end of the fall semester, should complete the 2008-2009 FAFSA and the 2008 Graduating Senior Appeal Form to be considered for summer financial aid.

Remember: You will only be evaluated for summer financial aid if you are currently enrolled at least half-time for summer.  Should you decide not to attend the summer session, it is your responsibility to drop the courses and your financial aid will be canceled accordingly.

Undergraduate Enrollment Requirements

To receive federal financial assistance for Summer Sessions, you must register for at least six semester hours (half-time status). The credits may be taken in any one session or may be divided between sessions. As noted above, if the enrollment is split between two terms and half-time is reached at the beginning of the second term, the aid will disburse at the beginning of the second term. If financial assistance is awarded based on your enrollment in both Summer Sessions and you drop the second session course, no financial aid will be disbursed for any sessions.

Available Aid Programs - undergraduate

Undergraduate financial assistance may be available from the following programs if eligibility requirements are met, and funds are available:

  • Federal Pell Grant (funds are available only to students who were eligible during the 2007-2008 academic year and who attended part-time or were only enrolled for one semester)
  • Subsidized or Unsubsidized Federal Stafford Loans (available to students who did not borrow grade-level maximum amounts for the 2007-2008 academic year)

The grade-level maximums for the Federal Stafford Loan are:

  • Freshmen (0-29 hours, at the end of the Spring 2008 term) - $3,500
  • Sophomores (30-59 hours) - $4,500
  • Juniors and Seniors (60+ hours) - $5,500
  • Federal PLUS Loans
  • Alternative Student Loans (there is no enrollment requirement for these loans) 

Federal Work Study Community Service - students who meet the Undergraduate Enrollment Requirements (above) may receive a Federal Work Study authorization, to be employed with Loyola's partner community service organizations during the Summer Session A.  Students must complete (with the employer) the Federal Work Study Community Service Authorization form for each session: Session A -for work during the period of 5/11/2008 to 6/30/2008, and Session B - for work during the period of 7/1/2008 to 8/16/2008.  Awards for each session cannot exceed $1,500 in total earnings.   (Note: a 2008-2009 Federal Work Study Community Service Authorization form will also be required for employment during Fall 2008/Spring 2009).  Students who are not enrolled or do not meet the enrollment requirements cannot receive an authorization for Federal Work Study Community Service during Summer Session A 2008.  Students who are not enrolled may still receive an authorization for Summer Session B, if all steps are complete for Fall/Spring financial aid.

Federal Work Study (On Campus)- students who meet the Undergraduate Enrollment Requirements (above) may receive a Federal Work Study authorization, to be employed during the summer Session A. Students must complete (with the employer) the Federal Work Study Authorization form for each session: Session A -for work during the period of 5/11/2008 to 6/30/2008, and Session B - for work during the period of 7/1/2008 to 8/16/2008. Awards for each session cannot exceed $1,500 in total earnings. Students who are not enrolled or do not meet the enrollment requirements cannot receive an authorization for Federal Work Study during Summer Session A 2008.  Students who are not enrolled may still receive an authorization for Summer Session B, if all steps are complete for Fall/Spring financial aid.
Financial assistance is not available from the following programs for Summer Sessions:
  • Nursing Student Loans
  • Federal Perkins Loans
  • Loyola University Grants and Scholarships
  • Federal Supplemental Educational Opportunity Grant (SEOG)
  • State of Illinois MAP Grant
  • Federal ACG Grant
  • National SMART Grant 

Graduate Enrollment Requirements

To receive federal assistance for Summer Sessions, you must be enrolled at least half-time. For students enrolled in quarter programs, half-time status in summer is defined as three credit hours; for semester programs, it is two credit hours. Enrollment must be in graduate-level courses at the 400-level and above or in approved 300-level courses. The credits may be taken in one session or may be divided between sessions.

Available Aid Programs - Graduate

Graduate financial assistance is available from the following programs, if eligibility requirements are met:

  • Subsidized or Unsubsidized Federal Stafford Loans (available only to students who did not borrow the maximum for the 2007-2008 academic year)
  • Graduate PLUS loans
  • Alternative student loans (there is no enrollment requirement for these loans)

The academic year maximum for a graduate student is a $20,500 Federal Stafford Loan, only $8,500 of which can be a Subsidized Federal Stafford Loan.

Important Note for Graduate and Professional Students Borrowing Federal Stafford Loans in Summer 2008: As a result of changes in the School as Lender Program, Loyola University Chicago has ended participation in the program. The School as Lender Program enabled Loyola University Chicago to be the lender for your graduate Federal Stafford Loan, through April 30, 2008. Loyola originated your loan, which is serviced by Citibank.
 
To continue to borrow Federal Stafford Loans as a graduate student at Loyola after May 1, 2008, you must select a lender and sign a new Master Promissory Note.
 
If you are enrolled in Summer 2008, complete the Lender Change Form and mail it to the OSFA to have your summer loan certified with your newly selected lender.
 
Your existing loans are owned and serviced by Citibank. If you wish to borrow loans for Summer 2008 and forward using the same institution, you should select Citibank (lender code 826878) and sign a new Master Promissory Note with that lender.

Summer Transfers

Students who transfer into a degree program at Loyola and received financial assistance during the Fall and/or Spring term at another school should contact OSFA as soon as possible for specific instructions. Students should not assume receipt of the same financial assistance as was received at the previous school.

Have a Summer Award and wondering what to do next?

 
If you do not want to borrow the loan(s) offered, you can now cancel in LOCUS.  Under ‘View My Financial Aid Award’, you can choose ACCEPT/DECLINE AWARD offered in the Summer 2008 term and decline the loans.
 
If you want to borrow all or a portion of the [Eligibility:Addl Loan-Summer] as a Federal PLUS Loan (borrowed by parents of dependent undergraduate students enrolled at least half-time for summer), Graduate PLUS Loan (borrowed by graduate students) or Alternative Loan (borrowed by the student, usually with a credit-worthy co-signer). You are encouraged to only borrow the amount that you actually determine that you need, rather than the maximum allowed.
 
The lender you choose will perform a credit-check.  If you/your parent is approved, the lender will require a signed promissory note before notifying Loyola of your approval.  When Loyola receives the notice of your approval, you will be sent an email.  Once we certify your eligibility for this loan, you will again receive an email so you may review the amount certified.

Tuition Benefits

All employees, employee dependents and employee spouses who are undergraduate degree-seeking students must complete a 2007-2008 FAFSA to receive tuition benefits for any Summer Session. Employees who are in graduate school on at least a half-time basis are also required to complete a 2007-2008 FAFSA. Employees should contact Human Resources for more information.

Veteran Benefits

Students who are eligible for Veterans Administration benefits who have not been enrolled at Loyola during the 2007-2008 academic year should contact Loyola's veterans' advisor at: vetfinaid@luc.edu after registration. Students who received veteran benefits in 2007-2008 will continue to have their enrollment reported to the Veterans Administration after registering for summer courses. All changes in enrollment must be properly reported to the veterans' advisor in OSFA. Note: The Illinois Veterans Grant cannot be used at private schools, such as Loyola.

Visiting Summer Students

Federal regulations allow a student to receive financial assistance only from the school from which he/she will receive a degree. A visiting student who attends Loyola for Summer Sessions only must arrange for a consortium agreement between the student's school and Loyola. This agreement allows the home school to award summer financial assistance, even though the student is enrolled at Loyola. Inquiries regarding consortium agreements should be directed to lufinaid@luc.edu.

Please note: Some schools do not allow participation in consortium agreements; your home school will determine your eligibility for a consortium agreement.