Financial Aid Terms and Conditions
The information below describes the rights and responsibilities of students receiving financial aid assistance and, specifically, federal student aid at Loyola Marymount University and LMU Loyola Law School. More information on each area below is provided on the LMU Financial Aid website.
Student’s Right to Know:
- Students have the right to know the criteria for continued student eligibility for each type of financial aid awarded.
- Students have the right to know the Satisfactory Academic Progress (SAP) standards that students must meet to receive financial aid assistance, and the required criteria to re-establish eligibility if a student fails to meet Satisfactory Academic Progress (SAP).
- Students have the right to know the method by which financial aid disbursements will be made to the students and the frequency of those disbursements.
- Students have the right to know the method the school provides for Pell eligible students to obtain or purchase required books and supplies by the seventh day of a payment period.
- Students have the right to know the general terms and conditions are applicable to any employment provided to a student as part of the student’s financial aid package.
- Students have the right to know the terms of any loan received, a sample loan repayment schedule for sample loans, the necessity for paying loans, and the loan exit counseling information the school provides.
- I agree to notify LMU Financial Aid of any changes to the information used to determine my financial aid award.
- I agree to respond to requests for information from LMU Financial Aid.
- I agree to review the Financial Aid Award Guide on the Financial Aid website and PROWL award messages and acknowledge the enrollment requirements to receive certain types of financial aid.
- I agree to notify the Office of the Registrar if at any time I stop attending classes and officially take a leave of absence or withdraw from the university.
- I agree to notify LMU Financial Aid if I am, or I become incarcerated while I am in attendance at LMU/LMU Loyola Law School and receiving financial aid.
- I agree to notify LMU Financial Aid if I (or a parent who has borrowed from the Federal Parent PLUS Loan program) am convicted of or pled guilty or no-contest to a crime involving fraud in obtaining federal student aid funds.
- I agree to notify LMU Financial Aid if I (or a parent who has borrowed from the Federal Parent PLUS Loan program) am subject to a lien for a debt owed to the United States.
- I agree to use federal student aid funds received during the award year solely for educational expenses related to attendance during that year.
Attention Student Athletes:
- Students receiving athletic grant-in-aid have terms and conditions specific to their athletic grant-in-aid. Review detailed information here.
Unit Requirement for Federal, State and Institutional Financial Aid:
- Undergraduate students must be enrolled in a minimum of 12 units to be eligible to receive institutional financial aid and 6 units to be eligible for federal and state financial aid.
- Credential students must be enrolled in a minimum of 6 units to be eligible to receive federal and state aid.
- Post-Baccalaureate Premedical Certificate program students are eligible for up to one twelve month period of federal aid, and must be enrolled in a minimum of 6 units.
- Master’s Degree candidates much be enrolled in a minimum of 3 units to be eligible for federal aid programs.
- Doctoral Degree candidates must be enrolled in a minimum of 2 units to be eligible for federal aid programs.
- Law Degree candidates must be enrolled in the minimum number of units as outlined by their program to be eligible for their scholarship and federal financial aid.
- All students may only receive federal aid for coursework that is required for their degree.