Student Responsibilities

Update your local and permanent addresses whenever changes occur. We send mail to your local/housing address while classes are in session and use your permanent address during winter and summer breaks. Be sure both addresses and phone numbers are always current. You can update your address through LOCUS.
Respond to all information requests as quickly as possible. Aid programs have deadlines. Delays in returning materials or requested information to the Financial Aid Office can delay processing and disbursement and possibly result in loss of eligibility.
Access LOCUS to obtain information on the current status of your financial aid awards and account with the Office of the Bursar.
Access your Loyola email account. We frequently send information, requests, or updates to your Loyola email account. Be sure to regularly check your Loyola email or arrange to have messages sent to your Loyola address forwarded to the email program you use.

Learn more about student responsibilities, including verification of tax information.

Withdrawal and Financial Aid

When a financial aid recipient withdraws from a term of enrollment, federal regulations require a calculation to determine whether federal aid must be returned. This calculation, called a Return of Title IV Aid (R2T4), is required for official withdrawals and for students who unofficially withdraw by ceasing attendance in all their classes. This is true regardless of whether or not a student is taking an approved leave of absence.

The withdrawal date for students is the last date of documented academic activity. In the case of unofficial withdrawals when a student ceases attendance but does not otherwise provide notification, the withdrawal date is the midpoint in the term unless academically related activity can be verified for a later date. Academically related activities might include taking a test, submitting a paper, or engaging in other substantial interactions with the instructor.

The R2T4 calculation determines whether financial aid must be repaid to the federal programs. The university’s tuition refund policy is independent from this federal R2T4 policy. Federal aid includes Unsubsidized Federal Direct Loans and Federal Direct PLUS loans.

Federal financial aid is earned for each day until the withdrawal date. The total days in the term are the calendar days that begin on the first day of attendance and end on the last day of the term or on the expected student attendance date. Any breaks of more than four days (including weekends) are subtracted from the total number of days in the term. To arrive at a percentage, the days prior to withdrawal are divided into the total number of days in the term that the student was scheduled to complete. This percentage determines the amount of federal aid that is earned. The remainder is the amount of federal aid that is unearned and must be repaid. For example, if a student withdraws after attending 20 days of their scheduled 135-day term, their percentage of earned aid is 20/135 = 14.81 percent. The student in this scenario earned 14.81 percent of their aid, and 85.19 percent of their federal aid is unearned and returned to the federal programs. If a student withdraws after 60 percent of the term has elapsed, they have fully earned all federal aid.

The responsibility for returning unearned aid lies with either the student or the university. The university is responsible for the amount up to the unearned institutional charges. The student is responsible for the amount above the unearned institutional charges. If the university is required to return funds, aid is returned by removing it from the student account. The university sends the portion back to the federal program. The removal of aid might result in a payment due from the student to the university. If it is the student's responsibility to return funds, funds are generally repayable under the terms of the student's master promissory note.

Unearned federal Title IV funds will result in a reduction to aid programs in the following order:

Unsubsidized Federal Direct Loans
Federal Direct PLUS Loans

Funds are returned where necessary, and students are notified via email no later than 30 days after the withdrawal determination is made. The notification will provide detailed information about the money returned from these aid programs. The return of these funds might result in charges to the student account that must be repaid.

If a student earned more aid than was paid at the time of withdrawal, they might be eligible for a post-withdrawal disbursement (PWD). If eligible for a PWD, students are notified via university email and have 14 days to accept or decline any loan funds.

Withdrawing might impact future eligibility for federal, state, and institutional financial aid. Please review the requirements of Satisfactory Academic Progress Policy.

Read additional details about Loyola's Withdrawal Policy.

Non-Title IV Grant and Scholarship Aid

If the amount of non-Title IV funds you received exceeds any unpaid university charges, you may be required to return the remaining portion. If you have withdrawn, you should contact the Financial Aid Office before requesting a refund. If a balance is due on your student account, you must make the appropriate payments.

Withdrawal Charges

The calculation used to determine charges after a withdrawal is completely different from the calculation used to determine financial aid eligibility because of a withdrawal. Please refer to the additional details regarding withdrawals for more information about tuition and fee charges.

How to Withdraw

Students are required to contact the Office of Student Affairs to complete all necessary withdrawal and leave-of-absence forms.

Update your local and permanent addresses whenever changes occur. We send mail to your local/housing address while classes are in session and use your permanent address during winter and summer breaks. Be sure both addresses and phone numbers are always current. You can update your address through LOCUS.
Respond to all information requests as quickly as possible. Aid programs have deadlines. Delays in returning materials or requested information to the Financial Aid Office can delay processing and disbursement and possibly result in loss of eligibility.
Access LOCUS to obtain information on the current status of your financial aid awards and account with the Office of the Bursar.
Access your Loyola email account. We frequently send information, requests, or updates to your Loyola email account. Be sure to regularly check your Loyola email or arrange to have messages sent to your Loyola address forwarded to the email program you use.