Frequently Asked Questions

  • How can I contact the financial aid office?

    Our office hours are Monday - Friday, 8:00am-5:00pm. Remember, you can check the status of your financial aid online at any time via PROWL.

    You may contact us by phone or email. 

    Emailfinaid@lmu.edu
    Phone: (310) 338-2753
    Fax: (310) 338-2793

    Mail: Loyola Marymount University
    Suite 200
    1 LMU Drive
    Los Angeles, CA 90045-2659

    It is not necessary to make an appointment to meet with a financial aid counselor. Financial aid counselors are available Monday-Friday, 8:00am-5:00pm, on a walk-in basis to answer questions. Our office is located on the main campus in the Charles Von der Ahe building, Suite 270 .

    Questions can also be submitted 24 hours a day by e-mail to finaid@lmu.edu Emails will be responded to within two business days.

  • Am I eligible to apply for financial aid?

    To be eligible for Federal Financial Aid you must meet the requirements below: 

    • Be a citizen or eligible noncitizen of the United States.
    • Have a valid Social Security Number. (Students from the Republic of the Marshall Islands, Federated States of Micronesia, and the Republic of Palau are exempt from this requirement.)
    • Have a high school diploma or a General Education Development (GED) certificate, or have completed homeschooling. If you don’t, you may still be eligible for federal student aid if you were enrolled in college or career school prior to July 1, 2012. Go to http://studentaid.ed.gov/eligibility/basic-criteria for additional information.
    • Be enrolled in an eligible program as a regular student seeking a degree.
    • Maintain satisfactory academic progress.
    • Not owe a refund on a federal student grant or be in default on a federal student loan.
    • Register (or already be registered) with the Selective Service System, if you are a male and not currently on active duty in the U.S. Armed Forces. (Students from the Federated States of Micronesia, the Republic of the Marshall Islands and the Republic of Palau are exempt from registering; see www.sss.gov for more information.)
    • Not have a conviction for the possession or sale of illegal drugs for an offense that occurred while you were receiving federal student aid (such as grants, work-study, or loans). If you have such a conviction, you must complete the Student Aid Eligibility Worksheet to determine if you are eligible for aid or partially eligible for aid.

    Master’s Degree & Doctoral Students

    If your program of study is:

    Master's Program

    You may be eligible for:

    Departmental Grant

    Federal Direct Unsubsidized Loan

    Federal Graduate PLUS Loan

    Federal TEACH Grant (for some master's programs)

    Federal Work–Study

    Enrollment Requirements 

    Full-time = minimum of 6 semester units

    Half-time = 3 semester units


    Doctoral Students completing Dissertation

    If your program of study is:

    Doctoral Program

    You may be eligible for:

    Departmental Grant

    Federal Direct Unsubsidized Loan

    Federal Graduate PLUS Loan

    TEACH Grant (for some master's programs)

    Federal Work–Study

    Enrollment Requirements

    Full-time = minimum of 6 semester units, or 2 units if completing dissertation.

    Half-time = 3 semester units, or 2 units if completing dissertation.


    Non-Degree Credential Students

    If your program of study is:

    Non Degree Credential

    You may be eligible for:

    Cal Grant (only if received as an undergraduate & must be approved by CSAC)

    Federal Direct Subsidized Loan

    Federal Direct Unsubsidized Loan

    Federal Parent Plus Loan for Undergraduate Students (if dependent)

    Federal Perkins Loan

    Federal TEACH Grant (certain conditions apply)

    Federal Work–Study

    Enrollment Requirements 

    Full-time = minimum of 12 semester units

    Half-time = 6 semester units

    Must be enrolled in a minimum of 6 semester units to eligible for federal financial aid.


    Post-Baccalaureate Pre-Medical Students

    If your program of study is:

    Post-Baccalaureate Premedical Program-Allowed one consecutive 12-month period of eligibility

    You may be eligible for:

    Federal Direct Subsidized Loan

    Federal Direct Unsubsidized Loan

    Federal Parent Plus Loan for Undergraduate students (if dependent)

    Enrollment Requirements

    Full-time = minimum of 12 semester units

    Half-time = 6 semester units

    Must be enrolled in a minimum of 6 semester units to eligible for federal financial aid.

     

  • How do I maintain Satisfactory Academic Progress (SAP)?

    To be eligible for federal, state, and University financial aid programs, students are required to make satisfactory academic progress. These standards are separate and distinct from the University’s Academic Degree Requirements and Policies as stated in the University Bulletin.

    These guidelines are in accordance with those required by federal regulations for recipients of federal grant, work, and loan programs, including the Federal Direct Parent (PLUS) Loan. These standards also apply to state aid or state-funded financial aid programs in accordance with the State of California.

    Recipients of LMU tuition benefits who are not receiving any other federal, state, or University funds are not bound by these guidelines.

    Graduate students must:

    • maintain a minimum semester and cumulative grade point average of 3.00
    • if enrolled full-time, complete a minimum of 6 units per semester.
    • not exceed the maximum timeframe to complete a graduate degree, five (5) years


    Grades

    Grades of F, NC, AU, and W do not count in calculating the minimum grade point average. Grades of I (Incomplete) or IP temporarily will not be counted until the final grade is posted. Students must comply with the requirements to convert an incomplete to a permanent grade according to the requirements as stated in the University Bulletin.


    Withdrawals

    Students who withdraw from all coursework or take a leave of absence and later enroll in a subsequent term retain the SAP status held during their last term of enrollment.

    Transfer Student Course Evaluation

    Transfer students are evaluated based on the number of units accepted at admission to determine their maximum time frame to receive financial aid.

    Repeat Coursework

    Classes for failed courses that are repeated because they are required for graduation are eligible for financial aid. Repeated courses are included in the calculation of attempted and earned hours.

    Maximum Time Frame to Complete Degree

    Students must complete their degree within five (5) years of starting their program.
    Important: The maximum time-frame to complete degree requirements does not override institutional, federal or state financial aid programs that have a maximum period of eligibility.

    Students should refer to the Academic Degree Requirements and Policies section of University Bulletin for information on the recommended course load required to complete their degree requirements in five (5) years.

    Satisfactory Academic Progress Review Process

    All students receiving financial aid are reviewed for satisfactory academic progress at the end of each term of enrollment.

    SAP Warning

    Students enrolled for the summer are reviewed after the end of the second summer session. Students failing to meet these requirements for the first time receive a “SAP Warning” Notice. Students are eligible for financial aid for their next term of enrollment while on Warning status.

    Financial Aid Probation

    If the student does not meet the minimum requirements after their next term of enrollment they are not eligible to receive financial aid. Students may submit a Satisfactory Academic Progress Appeal to the Financial Aid Office. This appeal must detail why the student was unable to meet minimum satisfactory academic progress requirements and the steps being taken to meet the minimum requirements and regain eligibility. If the appeal is approved the student is placed on Financial Aid Probation for one term. Students who cannot meet the minimum requirements within one term are encouraged to meet with an academic advisor to prepare an academic contract which outlines the terms and period that will allow the student to meet the minimum requirements.

  • How was my financial need determined?

    The formula starts with your cost of attendance (COA) based on your program of study.Then we consider your Expected Family Contribution (EFC). Then we subtract your EFC from your COA to determine the amount of your financial need and therefore how much need-based aid you can get.

    Calculating Your Financial Need

     Cost of Attendance (COA)

    – Expected Family Contribution (EFC)

    = Financial Need

     

    Cost of Attendance (COA)

    The first component of this formula is determining the LMU Graduate Standard Cost of Attendance, which is calculated by totaling your average expected costs for one year (fall and spring semesters only) at LMU. These estimated costs include tuition and fees, room and board, books and supplies, personal expenses and local transportation costs.

    Expected Family Contribution (EFC)
    The Expected Family Contribution is calculated by the Federal Government from the income and asset information that you provided on the FAFSA application. The family contribution is the amount of money you are expected to contribute toward your educational expenses for one year at LMU.

    Financial Need
    Your financial need is the difference between the Cost of Attendance and your Expected Family Contribution, which determines the maximum amount of need-based assistance you can receive from federal, state, institutional and outside agency sources.

    Packaging Financial Aid Awards
    Once your financial need is determined, the Financial Aid Office awards federal and state grants, loans, and work programs based on general eligibility criteria:

    • Federal funds are awarded by the Financial Aid Office based on the result of the federal formula and the availability of campus-based federal funds.
    • The maximum amount of Federal Direct Loans you may be eligible to receive is determined by your graduate program of study.
    • Master's and Doctoral candidates may be eligible to borrow up to $20,500 each academic year in the Federal Direct Unsubsidized Loan.
    • Independent Non-Degree Credential students may be eligible to borrow up to $12,500 (Subsidized and/or Unsubsidized) in Federal Direct Loans. Dependent Non-Degree Credential students may be eligible to borrow up to $7,500 (Subsidized and/or Unsubsidized) in Federal Direct Loans. Non-Degree Credential students may also be eligible to receive a Cal Grant and Federal Teach Grant.
    • Independent Post Baccalaureate students are eligible to borrow up to $12,500 (Subsidized and/or Unsubsidized) in Federal Direct Loans. Dependent Post baccalaureate students are eligible to borrow up to $7,500 (Subsidized and/or Unsubsidized) in Federal Direct Loans. Per Federal regulations, Post baccalaureate students can only receive Federal Direct loans for a two-semester period (one year).
    • State funds are awarded by the Financial Aid Office based on state-specified eligibility requirements.
    • Institutional (LMU) scholarships and grants are awarded by the Graduate Division, and incorporated into your federal and state financial aid award package by the Financial Aid Office.
    • Your enrollment plans, which determine your Cost of Attendance, are based upon the information you provided on your LMU and FAFSA applications. You must report any changes to this information to the Financial Aid Office immediately.
  • Can I receive Federal Financial Aid if I was conditionally admitted?

    You must be enrolled as a regular student in an eligible program in order to receive federal student aid, in accordance with federal regulations.  You may be eligible to receive LMU grants or scholarships.  If you are a conditional or provisional admit, you will not be eligible for federal student aid until you are admitted as a regular student

  • How can I obtain a GRE fee reduction voucher?

    ETS offers a limited number of GRE fee reduction vouchers on a first-come, first-served, basis that are available for college seniors and unenrolled college graduates who meet eligibility requirements. A fee reduction voucher may be used for one (1) General Test and/or one (1) Subject Test. Eligibility for participation in the fee reduction program is limited to one (1) time only. Thereafter, the full test fee will be charged for additional tests for which the candidate registers. Individuals meeting the eligibility requirements will be required to pay 50% of the full test fee. 

    To be eligible, you must be a U.S. citizen or resident alien who is a college senior or unenrolled college graduate. Interested students must complete the GRE Fee Reduction Certificate for the appropriate year. The 2017-2018 GRE Fee Reduction Certificate can be found here. 

    College seniors must be:

    • receiving financial aid through an undergraduate college in the U.S., U.S. Territories, or Puerto Rico, and
    • a dependent, who has an Institutional Student Information Report (ISIR) that shows a parental contribution of not more than $1,400 for the senior year, or
    • self-supporting and have an ISIR that shows a contribution of not more than $1,800 for senior year

    Unenrolled college graduates must:

    • have applied for financial aid, and
    • have an ISIR that indicates self-supporting status and a contribution of not more than $1,800

    To apply for a GRE fee reduction waiver:

    • Contact the Financial Aid Office at finaid@lmu.edu to see if you qualify
    • Once your eligibility is established, the Financial Aid Office will issue you a fee reduction voucher.
    • You must visit the Office of the Registrar in the Charles Von Der Ahe building to obtain the school seal required by the voucher program
    • Follow the rest of the instructions on the voucher. Allow up to three weeks for processing and mail delivery.

    Please note, ETS will not accept letter requests, photocopies or faxes of fee reduction vouchers. Fee reduction vouchers are not retroactive and they cannot be replaced if lost or stolen.

  • What happens if I withdraw or take a leave of absences?

    Federal Funds

    Financial aid programs created by the federal government are called ‘‘Title IV Funds’’ and include the Federal Direct Loan, and Graduate (PLUS) Loan.

    Title IV funds are awarded with the understanding that the student will attend school for the entire period for which the assistance was offered. However, should you need to take a leave of absence or withdraw*, you may no longer be eligible for the full amount of Title IV funds awarded in your Award Letter. Federal law requires that the Financial Aid Office determine at what point Title IV funds will cease to be made available once your enrollment has ended, and any unearned funds will be returned to the federal financial aid program. There is no relationship between this process and how LMU determines what you will be charged when you take a leave of absence or withdraw.

    LMU, State, and Private Funds

    The Financial Aid Office uses this same formula to determine how much LMU-funded financial aid you have earned. Eligibility for the Cal Grant TCP and scholarships from private sources will vary based on the terms of each program.

    What to Do Should You Decide To Take a Leave of Absence or Withdraw

    Once you decide to take a leave of absence or withdraw, you are required to notify the Registrar’s Office. Your withdrawal date will be determined as the earliest date that LMU is aware you stopped attending all classes.

    How Your Financial Aid is Adjusted

    The federal government provides financial aid offices with a schedule that is used to determine how much of your Title IV funds you have earned if you take a leave of absence or withdraw.

    Based on the date you give notice of your leave of absence or withdrawal, the Financial Aid Office will determine what amount will be returned to the federal program. If you have completed 60% or less of a given semester, the Financial Aid Office uses the schedule provided by the federal government to determine the refund. If you have completed more than 60% of a semester, you are considered to have earned 100% of your Title IV funds for that semester.

    For example, if you take a leave of absence after completing 40% point of a semester, you are then eligible to keep 40% of your federal funds, and the remaining 60% of the federal funds will be returned.

    The federal government requires that refunds be returned in the following order:

    Unsubsidized Federal Direct Loans

    Subsidized Federal Direct Loans

    Federal Graduate (PLUS) Loans

    TEACH Grant.

    *For LMU’s policy on taking a leave of absence or withdrawal, see the Graduate Bulletin.

  • If I am en employee of LMU do I qualify for loan forgiveness?

    Public Service Loan Forgiveness is a program for borrowers of federal student loans who work in a wide range of "public service" fields, including jobs in government and nonprofit 501(c)(3) organizations. Because LMU is classified as a nonprofit 501(c)(3) organization, full-time LMU employees do qualify for Public Service Loan Forgiveness. Borrowers must make 120 on-time monthly payments on a Federal Direct, Federal Direct Graduate PLUS or Direct Loan Consolidation Loan while working full-time, 30 hours per week, in a public service job. Any remaining debt is canceled after 10 years of eligible employment and qualifying loan payments. Click here for more information.

  • Where can I find more information about the Federal Teach Grant?

    As part of the 2007 College Cost and Reduction Access Act (Pub.L.110-84) (CCRAA), Congress created a new award labeled the TEACH Program. Its aim is to provide greater support to those who are willing to commit to teaching at least four years (out of eight) in Title I schools and shortage subject matters where it’s hard to recruit teachers.

    • up to an aggregate of $16,000 for first baccalaureate or post baccalaureate (non-degree) students.
    • up to an aggregate of $8,000 for graduate students

    Impact of Sequestration on the Federal TEACH Grant Program: Award amounts for any TEACH Grant that is first disbursed after October 1, 2016 must be reduced by 0.89 percent from the award amount for which a recipient would otherwise have been eligible. For example, the maximum award of $4,000 is reduced by $276 resulting in a maximum award amount of $3,724. This reduction only applies when the first disbursement of a TEACH Grant award is made after October 1, 2016.

    Federal Eligibility

    Students must:

    1. Complete the Free Application for Federal Student Aid (FAFSA).

    2. Be a U.S. citizen or eligible non-citizen.

    3. Be enrolled full-time according to your program level, in coursework that is necessary to begin a career in teaching. Awards will be pro-rated for students enrolled less than full-time.

    4. Demonstrate and maintain a cumulative GPA of at least 3.25.

    5. Sign a TEACH Award Agreement to Serve

    6. Complete Entrance Counseling

    7. Accept your offered TEACH Award via PROWL

    CONDITIONS

    In exchange for receiving a TEACH award, students must agree to serve as a full-time teacher in a high-need field in a public or private elementary or secondary school that serves low-income students (see below for more information on high-need fields and schools serving low-income students). As a recipient of a TEACH award, you must teach for at least four (4) academic years within eight (8) calendar years of completing the program of study for which you received a TEACH award.

    IMPORTANT: Failure to complete the teaching obligation, respond to federal requests for information or properly document teaching service will cause the TEACH award to be permanently converted to a loan with interest capitalized from the first date of disbursement. Once an award is converted to a loan, it cannot be converted back to a ‘grant.’ No exceptions, no appeal process.

    Interested students must sign a Federal Agreement to Serve (ATS) and complete entrance counseling.

    In the event that a student withdraws or drops all coursework, TEACH funds will be returned to the federal government based upon the standard Return of Title IV Funds calculation.

    How to Apply

    Students must:

    1. Complete the FAFSA, the LMU Application and meet federal eligibility requirements (see above)

    2. Be enrolled full-time (awards will be pro-rated for three-quarter and half-time enrollment) in a program of professional teacher preparation at LMU, including:

    • All education programs in the School of Education
    • Non-degree credential students in the School of Education
    • Undergraduate students with a declared minor in Education


    3. Students must meet GPA (at least 3.25) or college admission test requirements and:

    • Meet minimum enrollment requirements (12 units for undergraduates, 3 units for graduates)
    • And, be current, retired, or prospective teachers seeking a graduate degree to become eligible to teach in Title I schools or in a specified shortage areas
    • or, be teachers with “high quality” alternative certification, e.g. Teach for America


    4.Students must sign an electronic Federal Agreement to Serve (ATS)

    5.Complete Entrance Counseling Online

    6. Accept the offered TEACH Grant Award via PROWL


    Award Process

    All students who answer 'YES' to the TEACH Program question on the FAFSA will receive Federal ATS instructions from LMU via a PROWL message, and a TEACH Grant Award will be offered. Once LMU receives notification of completion of a Federal ATS, Entrance Counseling, and verifies federal and institutional eligibility requirements, and the student accepts their offered TEACH Award via PROWL, the TEACH Grant Award will disburse.

    Awards will disburse in two equal payments over the course of the academic year, similar to the Federal Direct Loan program, with 50% disbursing in the fall and the other 50% disbursing in the spring.

    High-Need Field

    High-need fields are the specific areas identified below –

    • Bilingual Education and English Language Acquisition.
    • Foreign Language.
    • Mathematics.
    • Reading Specialist.
    • Science.
    • Special Education.

    Other identified teacher shortage areas as of the time you begin teaching in that field. These are teacher subject shortage areas (not geographic areas) that are listed in the Department of Education’s Annual Teacher Shortage Area Nationwide Listing. To access the listing, please go to http://www.ed.gov/about/offices/list/ope/pol/tsa.doc.

    Schools Serving Low-Income Students

    Schools serving low-income students include any elementary or secondary school that is listed in the Department of Education’s Annual Directory of Designated Low-income Schools for Teacher Cancelation Benefits. To access the Directory, please go to https://www.tcli.ed.gov/CBSWebApp/tcli/TCLIPubSchoolSearch.jsp.

  • Do I qualify for the Cal Grant Teaching Credential Program (TCP)?

    Eligibility Requirements

    Cal Grant A and B recipients who:

    • Received at least one payment in the Cal Grant A or B program as an undergraduate.
    • Have received a bachelor's degree, or completed all required coursework for their bachelor's degree.
    • Are accepted and enrolled in a professional teacher preparation program at a California Commission on Teacher Credentialing approved institution within 15 months of the end of the term for which the recipient last received a Cal Grant payment.
    • Have not received or submitted an application for an initial Teaching Credential, such as a Preliminary or Clear Credential.
    • Maintain financial need for a Cal Grant renewal.


    Enrollment Requirements

    Enrollment in 12-18 units in coursework required by the State for the credential is required to receive a full Call Grant award. The Cal Grant award will be prorated for three-quarter time (9-11) and half-time (6-8) enrollment. Students enrolled less than half-time (<6 units) are not eligible.


    How to Apply

    Students must complete a FAFSA and Cal Grant G44 renewal form to apply.

    • Click here for more information about Cal Grant Renewal offered by the California Student Aid Commission (CSAC).
  • Where can I apply for a scholarship?

    Scholarships are awarded based on merit and do not need to be repaid. Eligibility for scholarships can be based on academic merit, leadership and/or talent. 

    Use this section to explore scholarship opportunities available to graduate students enrolled at LMU:

    Although you may be familiar with the financial aid application process, the Financial Aid Office continues to invite you to email us.

  • What are the benefits of a Federal Direct Loan?

    The Direct Loan Program offers:

    • A guaranteed source of funding for students loans;
    • A lower interest rate on Parent PLUS and Graduate Plus loans
    • A single point of service for students during repayment;
    • Additional repayment options for students and interest rate reductions for on time payment
  • Who is my loan servicer my loan?

    You can find information about the servicers of your other federal loans at www.nslds.ed.gov. You will need your PIN Number from the FAFSA to access this site.

  • What is the Public Service Loan Forgiveness Program?

    There is a loan forgiveness program for public service employees. Under this program, the amount forgiven is the remaining outstanding balance of principal and accrued interest on an eligible Direct Loan for a borrower who is not in default and who makes 120 monthly payments on the loan after October 1, 2007. The borrower must be employed full-time in a public service job during the same period in which the qualifying payments are made and at the time that the cancellation is granted. Full time employees of LMU may qualify for Public Service Loan Forgiveness. Click here for more information.

  • Can I receive Federal loans if I am in loan default?

    If you defaulted on a federal student loan, you cannot receive further Title IV aid until you resolve the default. You can resolve the default in the following ways:

    • Repay the loan in full or consolidate the loan: If a defaulted loan is successfully consolidated, it is counted as paid in full. However, if the loan holder simply writes off the entire loan, the loan is not paid in full, and you remain ineligible for Title IV funds.
    • Make satisfactory repayment arrangements: After you make six consecutive, full, voluntary payments on time, you may regain eligibility for Title IV funds. Voluntary payments are those made directly and do not include payments obtained by federal offset, garnishment, or income or asset execution. You may regain eligibility under this option only one time.
    • We must have written documentation that you have made satisfactory repayment arrangements from the loan holder.
    • Loan rehabilitation: Although you can regain eligibility for all federal student aid by making satisfactory repayment arrangements, the loan is still in default. A loan is rehabilitated once you make nine full, voluntary payments on time (no later than 20 days after the due date) within 10 consecutive months.
      • After a loan is rehabilitated, you will not be in default anymore, and you will have all the normal loan benefits, such as deferments.  

    For more information on resolving your defaulted federal student loan, click here.

  • Am I eligible to receive financial aid if I filed for bankruptcy?

    If you include a non-defaulted federal student loan in an active bankruptcy claim, so that collection on the loan is stayed:

    • You are eligible for aid as long as you have no loans in default (including the stayed loan).

    If you list a defaulted federal student loan or grant overpayment in an active bankruptcy claim:

    • You are eligible for further federal student aid funds if you provide documentation from the holder of the debt stating it is dischargeable.

    If you have had a federal student loan or grant overpayment discharged in bankruptcy:

    • You remain eligible for federal student loans, grants, and work-study.
    • You do not have to reaffirm a loan discharged in bankruptcy in order to be eligible. The Bankruptcy Reform Act of 1994 prohibits denial of aid based solely on filing for, or having a debt discharged in, bankruptcy.

    If you filed Chapter 7 or Chapter 13 bankruptcy, you may have your loan discharged only if the bankruptcy court finds that repayment would impose undue hardship on you and your dependents.  

    For more information on bankruptcy and receiving federal student aid click here.

  • Am I eligible for Federal aid if I have borrowed over my federal loan limits?

    You are not eligible for new aid until the over-borrowing of loans has been resolved with satisfactory payment arrangements.

    • You can sign an agreement acknowledging the debt and affirming your intention to repay the excess amount as part of the normal repayment process. This is called a reaffirmation.
    • A federal loan consolidation can also be considered a satisfactory repayment arrangement and acts the same as reaffirmation.

    Contact your loan servicer directly for instructions to complete the reaffirmation process.

    The reaffirmation process includes the following steps:

    1. Either the institution or the student contacts the loan servicer and explains that the student has inadvertently over-borrowed and wishes to reaffirm the debt.
    2. The loan servicer sends the student a reaffirmation agreement.
    3. The student reads, signs, and returns to the servicer the reaffirmation agreement.
    4. The loan servicer sends the student confirmation that the reaffirmation agreement has been accepted. The student or loan servicer must provide a copy of the reaffirmation confirmation to the school.
    5. The inadvertent over-borrowing is considered to have been resolved as of the date the loan servicer receives the student’s signed reaffirmation agreement.

     

  • When will I receive my Federal Direct Loan?

    After you have been awarded a Federal Direct Loan, confirm that you have completed the necessary requirements (see below) online via PROWL.

    In general, loan funds disburse via electronic fund transfer to your Student Account 7-10 business days from the date that these requirements are completed. If more than 14 business days have passed since successfully completing these requirements, please contact us at finaid@lmu.edu, or (310) 338-2753.

    Federal Direct Loan Requirements

    1) Accept and/or Decline your Federal Direct Loan offer:

    You are required to accept and/or decline the Federal Direct Loans that were offered to you online via PROWL. If you fail to accept your loan, the award offer will be canceled. All grants/scholarships will be automatically accepted on your behalf.

    2) Complete Loan Entrance Counseling:

    Entrance Loan Counseling is a federal and institutional requirement that explains your rights and responsibilities as a student loan borrower. You can complete this requirement by visiting https://studentloans.gov/myDirectLoan/index.action . Allow 5-7 business days for our records to be updated.

    3) Complete a Master Promissory Note (MPN) online:

    You must complete a Direct Loan Master Promissory Note (MPN) with the U.S. Department of Education. Please allow 5-10 business days for our records to be updated.

  • When will I receive my Alternative (private) loan?

    Alternative loans should be your last resort for funding due to their higher interest rates and lower repayment benefits. We strongly encourage you to make sure that you have exhausted your federal loan eligibility before applying for an alternative loan. You may apply for an alternative loan by selecting a lender and completing a Master Promissory Note (MPN) with the lender of your choice.
    A list of alternative loan lenders can also be found here.

    Once you have completed a Master Promissory Note (MPN) with the lender of your choice and the lender approves your loan, the loan funds will be electronically transferred to LMU for certification and disbursement.

    Loan funds typically arrive 7-10 business day after the initial requirements have been completed. If more than 10 days have passed since you completed the initial requirements, please contact the Financial Aid Office at finaid@lmu.edu, or (310) 338-2753.

  • I am a teacher; is it possible to get my loans forgiven or cancelled?

    Federal Perkins Loan Cancelation
    You may qualify for cancelation (discharge) of up to 100% of a Federal Perkins Loan if you have served full time in a public or nonprofit elementary or secondary school system as a

    -teacher in a school serving students from low-income families; or

    -Special-education teacher, including teachers of infants, toddlers, children, or youth with disabilities; or

    -teacher in the fields of mathematics, science, foreign languages, or bilingual education, or in any other field of expertise determined by a state education agency to have a shortage of qualified teachers in that state.

    For more information or to obtain an application, contact the office that administers the Federal Perkins Loan program at the school that holds your loan or click here for more information.

    Federal Teacher Loan Forgiveness (TLF)
    TLF is a federal program to assist teachers in repayment of Federal Direct Loans. Eligible loan borrowers must have been employed as teachers for five years, in a qualified teaching service area. Click here for more information or to obtain an application.

  • How does my aid work for living off campus?

    If you will be living off campus, you will only be charged direct expenses such as tuition and fees. However, you can use any grant, scholarship or loan(s) that is awarded above your costs to receive a refund. If your accepted aid does not exceed your costs and you are not eligible for a refund, you may consider increasing your loans to the maximum amount offered. Graduate Students in a degree seeking program can also borrow a PLUS Loan to help pay for education related expenses like off campus housing or you may chose to borrow through an Alternative Private Lender. When possible, we encourage students to  apply for a PLUS loan first with the Alternative loan as a last resort.

  • Am I eligible to receive a refund of my financial aid?

    To be eligible for a refund to pay for education related expenses such as off campus housing, you may have to borrow up to your Cost of Attendance. To increase your loan(s), you can submit a Revision Request Form and complete the appropriate Loan Revision section. *Note: If you have an Alternative Private Loan, you will have to contact your lender directly to apply for an increase.

  • I don't have enough funds to cover my costs, what are my options?

    You may consider submitting a Cost of Attendance Appeal if you have expenses we can consider, i.e. medical expenses, special course expenses, technology expenses.

  • Can I use my refund to pay rent before school starts?

    Refunds can be used for housing, however they can’t be requested until the first day of classes. You should not anticipate your refund will be available for your first month’s rent as all aid, including loans, begins to disburse 10 days before the start of the term. Use the Federal Student Aid Budget Calculator as a tool to estimate your expenses.

  • What is the Cost of Attendance?

    The cost of attendance (COA) is not the bill that you may get from your college; it is the total amount it may cost you to go to college each year. The COA includes tuition and fees; on-campus room and board (or a housing and food allowance for off-campus students); and allowances for books, supplies, transportation, loan fees, and, if applicable, dependent care. It can also include other expenses like an allowance for the rental or purchase of a personal computer, costs related to a disability, or costs for eligible study-abroad programs.

  • Can I increase my Cost of Attendance (COA)?

    Your Cost of Attendance is tied to a period of enrollment (generally a two-semester academic year). If a student incurs costs that exceed the amount in certain budget categories, or certain allowable costs that are not included in the standard cost of attendance, the student may request an adjustment for those costs by submitted a Cost of Attendance Appeal form to our office. 

    Some allowable costs:

    • Unreimbursed medical expenses, including prescriptions. Must provid receipt of payment. 
    • Licensed day care (does not include private school tuition). Must provide receipt of payment. 
    • Auto repair costs other than routine maintenance. Must provide receipt of payment. 
    • Computer purchase ($1500, one time only). Must provide receipt of payment. 
    • Other allowable costs that are determined by the Financial Aid Office to be directly related to a student's education. 
  • Can my COA include how much I pay for rent and other bills?

    The Cost of Attendance considers the cost of rent in the “Room and Board” estimate, for off-campus students, which is based on a survey from the California Department of Education.

  • Why isn't sickness insurance and my parking pass included?

    The sickness insurance and the annual parking permit are not included in your Cost of Attendance because they are not mandatory fees. Both items can be waived. 

  • Will my Financial Aid award increase every year as my fees increase?

    You may qualify for additional Graduate PLUS loan borrowing. 

  • What is Federal Verification?

    Verification is a review process in which the Financial Aid Office is directed by the Department of Education to determine the accuracy of the information provided on a student's FAFSA application. Such documentation includes:

    • signed copies of the most recent Federal income tax returns, W-2s and all schedules for the student, spouse (if applicable) and the parent(s) (of Dependent students)
    • and a Verification Worksheet

    Proof of citizenship and copies of Social Security benefit statements, 1099 forms and other documents may also be requested.

    FAFSA applications are randomly selected by the Federal processor for verification, with most schools verifying at least 40 - 45% of all applications. If there is an asterisk next to the EFC figure on your Student Aid Report (SAR), your SAR has been selected for verification. The Financial Aid Office will contact selected students via PROWL once the college is notified by the Department of Education.

    If discrepancies are discovered during verification, the Financial Aid Office may require additional information or documents. Any discrepancies that must be corrected may cause your financial aid to be revised.

  • What documents will I need to submit for Verification?

    Dependent students are required to submit a federal institutional verification worksheet and a signed copy of both the student and parent federal income tax returns and all W2 forms received for the fiscal year on which the FAFSA was based. (Example: A student selected for verification in 2013-2014 would submit information from the 2012 tax year.)

    Independent students are required to submit a federal verification worksheet and a signed copy of their federal income tax return and all W2 forms received for the fiscal year. If an independent student was 1) married and filing a joint return for the preceding tax year or 2) was married after the end of the proceeding tax year but before filing the original FAFSA, the student must submit a tax return for their spouse. If a FAFSA was submitted for the current school year and the student married after December 31st, a signed income tax return for the spouse must be submitted.

    Other documents might be requested by the Financial Aid Office during the verification process. Students will be notified via PROWL if additional documentation is required.

    The verification worksheet and the tax returns should be forwarded to the Financial Aid Office as soon as possible after they are requested. Continuing students who have been awarded aid have 30 days from the date of request to submit the required documents before their need-based aid is cancelled.