Scholarships & Financial Aid

Merit-based Scholarships:

The McKinnon Scholarship is our highest merit based award, offered in recognition of an applicant's strength across academic disciplines as well as a commitment to his or her school through extracurricular and community based activities. A McKinnon scholar goes above and beyond what is asked of him or her in the classroom demonstrating exceptional leadership qualities, possessing a solid foundation of core values and a strong understanding of a Jesuit education. A select number of applicants will also be named Presidential Scholars based on their academic work at their previous school. To read more about the founder of Loyola, Father Neil McKinnon please click here.

Need-based Financial Aid: 
Financial aid is awarded to incoming freshmen and transfer applicants based on the evaluation of their financial aid application package by Loyola’s Financial Aid Committee. Please note that while Loyola’s admissions decisions are need-blind and we do strive to maximize financial assistance, we are not able to meet the financial needs for all students offered admission. Families should indicate they are interested in being considered for financial aid by checking the box on the online admissions application. They will then receive a letter with instructions on how to apply for financial aid. Families will be notified of need-based financial aid award decisions at the same time that they receive notice of admission.
 

Families may begin applying for financial aid on October 24th, 2016. For information on the application process please click here. To begin the application process, please click the logo below. 

Single parent families wishing to waive the requirement of obtaining financial documents from their child's non-custodial second parent must fill out a Custodial Waiver form.

For the Parents’ Financial Statement Workbook and Instruction Booklet, please click here

 

Financial Aid FAQs

Does applying for Financial Aid influence the admission decision?

Loyola’s admissions decision is independent of the financial aid decision. Therefore, a family’s expression of interest in applying for financial aid has no bearing on whether the student is offered admission.

Who may apply for Financial Aid?

Financial aid is awarded principally to incoming freshmen and, on a limited basis, to transfer students.

Returning families who were not awarded aid upon admission may apply in subsequent years only if they have experienced a significant and unanticipated change in financial circumstances. Siblings entering college or other private schools does not constitute an unanticipated change.

Awards to returning families and transfer applicants are subject to the availability of resources as determined by the Loyola’s annual operating budget.

How is Financial Aid awarded?

Loyola School’s Financial Aid Committee considers applications for Financial Aid. To assist the committee, Loyola School makes use of an outside data collection and analysis organization called the School and Student Service (SSS) for Financial Aid. SSS assists Independent Schools in determining a family’s financial need.

Families must complete a Parent Financial Statement (PFS) and submit copies of their tax returns to SSS, which then generates a Report of Family Contribution (RFC). The RFC contains an Estimated Family Contribution (EFC). The EFC provides some guidance to the Financial Aid Committee in evaluating need, but is not a binding conclusion.

Do all families with financial need receive an award?

No. Unfortunately, Loyola is not able to give awards to all families with demonstrated need. Generally Loyola gives between 15 and 20 awards to incoming freshmen out of roughly 100 who have been offered admission and applied for Financial Aid.

If I do not receive a Financial Aid award, can my son or daughter still attend Loyola?

The choice to give your son or daughter an Independent School education is a special gift, but it is also a significant, four-year financial commitment.

Financial assistance is available after entering the school only under very limited circumstances and therefore families are urged to realistically consider their ability to pay full tuition without the benefit of financial assistance.