OVERVIEW PROGRAMS AND TUITION ADMISSIONSFINANCIAL AID

Loyola University Financial Aid and Scholarships 2022

Loyola University New Orleans, which is located in Chicago, IL is a private, Roman Catholic university. In addition to over 11,420 undergraduate students, LUNO also boasts of over 5253 students in its postgraduate courses, taking the total enrollment to over 16,673. To teach various courses to the students, the school has employed a total of 1389 faculty. Loyola University New Orleans is home to an ethnically diverse student body. At LUNO around 45% are white, 19% belong to Hispanic ethnicity, a

$5,208

Avg. Federal Grant

$5,508

Avg. Federal Loan

$66,494,952

Total Aid Awarded

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Loyola University Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

95%

Total Aid Amount Average Total Aid Awarded per year.

$66.495M

Financial Aid Official Website

www.loyno.edu/financialaid/

As many as 99% of the students at LUNO get some sort of financial aid, and the total amount of assistance/loans provided is more than $11,509,174 in a year. More information regarding the financial assistance schemes can be accessed on LUNO’s official financial aid page at https://www.luc.edu/finaid/index.shtml?utm_medium=redirect&utm_campaign=finaid-redirects&utm_source=finaid/index-html. At LUNO, the total percentage of applicants who receive the Federal Grant stands at 38%. In comparison, 99% of the students are awarded the Student Grant, 98% get the Institution Grant, and 38% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,994, and the same stands at $5,734 for State Grant awardees and $25,497 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $4,564. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. On average, students with an annual family income of less than $30,000 will obtain a federal aid of $28,806 per year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $27,832, while those falling in the $48,001-$75,000 income category get $25,493 a year. On the other hand, the average federal aid stands at $22,391 for those with an annual family income between $75,001 and $110,000, and at $18,610 for an income more than $110,000. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. However, student loans attract a certain rate of interest at which the funds are borrowed. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At LUNO, an estimated number of 65% of the applicants choose to go for student loans.

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Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

35%

State Grant Aid

41%

Institution Grant Aid

99%

Pell Grant

35%

Average Aid Awarded

Federal Grant Aid

$5,208

State Grant Aid

$5,843

Institution Grant Aid

$25,909

Pell Grant

$4,570

We see that the students are receiving aid in various different form. The average aid received by the students is $5,208

Pell Grants are received by 35% but the average amount received in the form of pell grants is $4,570.

Whereas Federal Grants' average aid amount received by the student is $5,208 and 35% of the student is receiving this benefit.

University also provides Institutional grants to the students which are received by all the students that are 99% and the average aid amount received is $25,909.

State also provides assistance to the students in the form of state grants with an average amount granted is $5,843 and are benefitted to about 41% of the students.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$36,026

$30,001 - $48,000

$35,727

$48,001 - $75,000

$34,026

$75,001 - $110,000

$31,298

Over $110,000

$25,335

As we all know the fact that the whose income is less will requires more financial help. Here also happens the same. The financial aid is provided based on family income and the family income with less income is provided maximum financial aid and as the income of the family increases the financial aid amount decreases.

If the family income is between $0 to $30,000 average aid amount provided is $36,026. Further when the income increases to $30,001 to $48,000 the aid amount reduce to $35,727.

An aid amount of $34,026 is received by the income bracket between $48,001 to $75,000.

Similarly, if the income is between $75,001 to $110,000 the aid amount is further reduced to $31,298 and it is minimum if the earning is more than $110,000 which is $25,335.

Student Loans for Loyola University

Average Loan Amount Average Loan Amount received per year.

$6,386/Year

Students Taking Out Loans

67%

Loan Default Rate

6.5%

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