$5,215

Avg. Federal Grant

$5,705

Avg. Federal Loan

$88,566,629

Total Aid Awarded

Loyola University Maryland Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

84%

Total Aid Amount Average Total Aid Awarded per year.

$88.567M

Financial Aid Official Website

www.loyola.edu/financialaid

Students can avail of scholarships provided by the university, such as Carnegie Dartlet $10,000 Scholarship, Christa McAuliffe Scholarship, Community Service Scholarship for Multicultural Students, and Developmental Disabilities, Mental Health, Child Welfare, and Juvenile Justice Workforce Tuition Assistance Program, if they find educational expenses to be on the higher side. Notably, 93% of the students at Loyola University Maryland get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $13,400,057. Notably, a total of 15% of the applicants to Loyola University Maryland receive the Federal Grant every year. In comparison, 91% of the students are awarded the Student Grant, 90% get the Institution Grant, and 15% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,097, and the same stands at $7,191 for State Grant awardees and $26,907 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,437. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. Every year, around 55% of the applicants to Loyola University Maryland opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

15%

State Grant Aid

6%

Institution Grant Aid

89%

Pell Grant

14%

Average Aid Awarded

Federal Grant Aid

$5,215

State Grant Aid

$8,132

Institution Grant Aid

$23,981

Pell Grant

$4,287

As shown in the table the breakdown includes Federal Grants, Pell Grants, state grants and institutional grants, with institutional grants having the highest percentage contribution of 89% with an average aid amount being $23,981.

Pell grants have a percentage of 14% with an average aid amount of $4,287 which is higher than the state grant aid average of $8,132.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$34,328

$30,001 - $48,000

$33,094

$48,001 - $75,000

$31,528

$75,001 - $110,000

$29,983

Over $110,000

$19,659

As shown in the table lower the family income higher is the amount of aid one can expect to receive. For those students who have a family income under $30,000 can expect to receive an aid amount of $34,328 while those with family income over $110,000 can expect to receive an aid amount of $19,659. This helps students who are coming from low-income homes to pay for their degree.

Student Loans for Loyola University Maryland

Average Loan Amount Average Loan Amount received per year.

$9,102/Year

Students Taking Out Loans

56%

Loan Default Rate

2%

The Student loan is a kind of financial aid which has to be paid back within a stipulated time. The average amount that a student of Loyola University Maryland receives is $9,102. Around 56% of the Loyola University Maryland students are availing student loan in an academic year. The loan default rate is found to be 2%. 

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