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Loyola University Chicago

Financial Aid Office

loan program comparison

Weighing Federal PLUS Loan Against Other Options

Federal PLUS Loans – Consideration of PLUS Versus Other Options

If there are educational expenses remaining after all other financial aid has been awarded, loans can be an option to provide the resources necessary to meet those expenses.

As an alternative to borrowing loans or to reduce the amount needed in loans, the Office of the Bursar offers a number of payment plans to families through Loyola’s partner, Installment Plans (iPlans). With a payment plan, you can spread one year’s tuition, fees, and room and board charges, less financial assistance, over a number of months. If you cannot pay the entire amount due for each semester, enroll in a payment plan. For more information about payment plans, visit: LUC.edu/bursar.

Comparisons of Loans

In general, Federal PLUS Loans are less expensive than other types of educational loans, such as alternative loans.  There are considerations that many students and families make in making decisions between the educational loans, or other loans (such as home equity loans):



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