Loyola University Chicago

Financial Aid Office

Student Rights and Responsibilities

Student Rights

As a student, you are entitled to know:

  • What financial aid programs are available
  • Application deadlines, procedures and forms for those programs
  • How your assistance is disbursed, how distribution decisions are made and the basis for these decisions
  • What resources (such as parental contribution, other financial assistance, personal assets) were considered in calculating your need
  • What portion of the financial assistance you receive must be repaid and what portion is grant aid
  • The interest rate, total amount to be repaid and repayment procedures (including when repayment begins and the length of repayment) for any loan you are awarded
  • How the school determines whether you are making satisfactory academic progress and what happens if you are not
  • An explanation of each program in your student aid package

Student Responsibilities

As a financial assistance recipient, you are responsible for:

  • Supplying accurate information on your applications
  • Being aware of and complying with deadlines for assistance applications and reapplication
  • Keeping OSFA informed of changes in your financial situation and enrollment status
  • Promptly returning or submitting all additional documentation, corrections and/or new information requested by OSFA
  • Notifying OSFA of any assistance (scholarships, grants, stipends, etc.) received from outside sources
  • Maintaining satisfactory academic progress according to established university policies and standards
  • Knowing the costs of attending the university
  • Knowing the university's refund policy
  • Knowing the appeal procedure for financial assistance
  • Notifying the university of address changes
  • Checking Loyola e-mail for official communication from OSFA.