by our College Data Analytics TeamThe majority of students will not be asked to pay the full, advertised sticker price of a school. Instead, they will be given a financial aid offer that will include a combination of scholarships, grants, loans, and work-study. The sum total of attendance at Loyola University Chicago can sound overwhelming, but bear in mind that many students get some type of financial aid.
What financing options does Loyola Chicago offer, and what will you qualify for? Keep scrolling for more information. Keep going to find out how much school funding will be available to you.
The amount of financial aid and scholarships you are eligible for will vary depending on your family’s income. Continue reading to find information to help you understand just how much assistance you can expect to receive from Loyola University Chicago.
Colleges use loans, grants, scholarships and work-study to minimize what students actually pay out of pocket. However, some types of aid are more desirable than others, and some students will receive more than others.
Among first-time, full-time freshmen at Loyola University Chicago, 99% of first-time, full-time freshmen received some form of financial aid (about 3088 new students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 98% | $28,816 |
| Institutional grants & scholarships | 96% | $25,247 |
| Federal Pell grants | 32% | $6,088 |
| State/local grants | 26% | $7,668 |
| Federal student loans | 49% | $5,313 |
Because grants and scholarships do not have to be repaid, they are the most sought-after type of financial aid. At Loyola Chicago, some 86% of undergrads got grants or scholarships worth on average $27,569 (across roughly 10788 recipients).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 86% | $27,569 |
| Federal Pell grants | 24% | $5,935 |
| Federal student loans | 45% | $6,561 |
Title-IV recipients living on campus saw average grant aid of $31,329.
Since aid is largely need-based, the real cost of attendance falls steeply for lower-income families.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $29,010 |
| $30,001 – $75,000 | $31,048 |
| Over $75,000 | $39,400 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
Net price is the average annual cost after grants and scholarships are subtracted from the published cost of attendance — the figure closest to what a typical aid-receiving student actually pays.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $36,079 |
| Off-campus title-IV students | $35,196 |
For an estimate tailored to your family circumstances, see Loyola Chicago’s net price calculator: www.luc.edu/undergrad/tuitionandfinancialaid/netpricecalculator/.
The median federal debt load at Loyola Chicago comes to $20,500 of cumulative federal debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $20,500 |
| Median federal debt (graduates only) | $24,157 |
| Typical 10-year monthly payment (graduates) | $256.1/mo |
The 10-year payment estimate assumes a standard federal repayment plan and the median graduate debt amount.
Looking only at the median can be misleading because it hides the spread. The percentiles below describe the cumulative federal debt distribution for borrowers at Loyola Chicago.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,282 |
| 25th percentile | $8,500 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $33,000 |
Debt outcomes are not uniform — they shift with income, first-generation status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $22,000 |
| Middle income | $22,000 |
| High income | $19,500 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $20,500 |
| Continuing-generation students | $20,250 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $20,000 |
| Independent students | $22,000 |
The figure below distills the debt data into a single burden category for Loyola Chicago.
Stafford loans make up the bulk of federal direct lending to undergraduates. The aggregate figures below show how active the program is at Loyola Chicago:
| Metric | Value |
|---|---|
| Stafford loan recipients | 53484 |
| Total Stafford loan amount | $1,698,683,244 |
If you are a veteran or active-duty service member, the GI Bill and DoD Tuition Assistance are the primary federal programs you can use at this school.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 168 |
| Total GI Bill amount | $3,858,406 |
| Average GI Bill amount per recipient | $22,967 |
DoD program volume
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 0 |
| Total DoD amount | $0 |
References
More about our data sources and methodologies.