Veterans Administration Programs

The Shopping Sheet displays institutional grants and scholarships from Loyola University Chicago, while also displaying any federal (ex: Pell) or state (ex: MAP) grants and Federal Direct Student Loans you are eligible to receive. 

Although you may be eligible to receive the full amount of federal loans, we recommend that you only take out loans if absolutely necessary.  Many student veterans are able to complete their degree without borrowing loans.  If the need arises, we encourage that you only borrow the amount needed in order to reduce long term debt.  If you decide to borrow at Loyola University Chicago, more information can be found here.

The “Net Costs” section reflects the estimated cost of attendance minus any grants or scholarships.  It does not account for personal choices that may alter the amount nor is it the amount owed after VA benefits have been applied.

The metrics related to graduation and loan default rate reflect the average statistics for full time, undergraduate students at Loyola University Chicago.  Each individual student is unique therefore your experience may be different. 

At Loyola University Chicago 70 percent of all full-time, undergraduate students graduate within six years.  According to the National Student Loan Clearinghouse Research Center, nationally only 54.1 percent of full-time, undergraduate students graduate within six years.

The loan default rate reflects the percentage of federal loan borrowers who entered repayment in 2010 and defaulted on their loans within the first three years of repayment.  A multitude of variables can lead to default (job market trends, health problems, etc.) however this latest reporting period for Loyola University Chicago reflected a default rate of only 5.9 percent, well below the national average of 14.7 percent.  This is an indication that Loyola alumni who graduated in 2010 are more successful in managing their loan repayment than alumni from many other institutions that entered repayment at the same time.

If you have any questions regarding you military education benefits contact the Financial Aid Office at (773) 508-7704 or email Veterans@LUC.EDU.

You may be eligible for educational benefits, follow the links below for more details.  The Financial Aid Office coordinates your Federal Veteran’s Affairs Educational Benefit programs including:

• The Montgomery GI Bill® – Active Duty (Chapter 30) - for those who enlisted after 7/1/1985(Chapter 1606 and 1607) - part of the GI Bill effective 7/1/1985
• The Montgomery Montgomery GI Bill® – Active Duty (Chapter 30) – Selective Reserve (Chapter 1606)
• The Vocational Rehabilitation Program (Chapter 31) for disabled veterans approved by the Veteran’s Affairs for study at Loyola
• The Survivors’ and Dependents’ Educational Assistance Program (Chapter 35) - for the spouse and children of deceased or disabled veterans
• The Post-9/11 Montgomery Montgomery GI Bill® – Active Duty (Chapter 30) – Selective Reserve (Chapter 1606) (Chapter 33) - for those who served at least 30 consecutive days on active duty after September 10, 2001
• The Post-9/11 GI Bill® Yellow-Ribbon program for qualified Post-911 applicants

GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. government Web site at https://www.benefits.va.gov/gibill.

Note: Loyola University Chicago does not participate in the Illinois Veterans Grant Program (IVG), Illinois National Guard Grant Program (ING), or the Illinois MIA/POW Scholarship Program.  These programs are only available at Illinois public institutions.

To use your benefits at Loyola you will need to complete a VA form 22-1990, Application for Education Benefits at the Veteran’s Affairs website.  Once the VA has processed and approved your application, you will receive a Certificate of Eligibility (VA Form 22-0557) from their office in response to your request.  Please submit a copy of your Certificate of Eligibility to the Financial Aid Office. This is used to certify your enrollment with the Department of Veteran Affairs.