Financial Aid Programs
Applying for Financial Aid
Who should apply?
- Any student interested in receiving Federal, State or Loyola Marymount University grants, scholarships, loans or student employment is encouraged to apply for financial aid.
- International students are eligible for LMU grants, scholarships and assistantships. However, only U.S. Citizens and eligible non-citizens can apply for Federal and State assistance, in addition to LMU grants and scholarships.
- You may apply for a scholarship with out filling out the FAFSA, skip to step 3.
Step 1: The Free Application for Federal Student Aid (FAFSA) www.fafsa.ed.gov
-On the first page, select the 2009-2010 school year.
- 2008 federal tax form information.
- LMU's Title IV school code 001234 in Section H.
NOTES: Complete the 2009-2010 Free Application for Federal Student Aid (FAFSA) online at www.fafsa.ed.gov. See FAFSA online for deadlines. Any student interested in receiving Federal loans, State grants, or federal work must submit a FAFSA. Remember that in order to complete the process you must sign your FAFSA by electronic pin or print, date, and mail the signature pages generated by FAFSA on the Web to the processor. The FAFSA may be submitted before you have been admitted; we encourage you to apply early.
Step 2: Verification ONLY If selected (if not selected, skip this step):
- You will be notified if you are selected.
-If selected, you must submit signed copies of your 2008 Federal Income Tax Returns and Schedules to the Financial Aid Office.
- If selected, and you did not file a 2008 tax form, please download, complete and return the 2009-2010 Student Non-Filer Form to the Financial Aid Office.
Step 3: Graduate Financial Aid Application
ALL students applying for Financial Aid must complete the 2009-2010 Graduate Financial Aid Application. Return to the Financial Aid Office as instructed on the application.
Step 4: Grants and Scholarships
ALL STUDENTS should apply. You may download an application from either the Graduate Financial Aid website or the Bioethics website. Be sure to check deadlines to remain eligible.
MyAid
MYAID is your online resource to financial aid and LMU. MYAID provides you with access to:
applications and documents; deadlines and reminders; your status (what we have received from you and what we still need from you); and your awards (you may accept or decline awards online).
Instructions for Accessing MYAID
MYAID is accessible through the PROWL System. In order to sign-in to MYAID via PROWL, you must have:
- Your User ID (your social security number)
- Your PIN (either your six digit birth date OR the last six digits of your User ID)
LMU Grants
The Bioethics Institute Grant
Each graduate program awards a certain number of grants and scholarships every year. Amounts vary by program and are often renewed for up to two years. To be considered for a department grant or scholarship complete your Department’s Scholarship Application available online at www.lmu.edu/gradfinancialaid. All students are encouraged to apply. COURSES TAKEN OUTSIDE THE BIOETHICS INSTITUTE ARE NOT ELIGIBLE FOR FINANCIAL ASSISTANCE.
Catholic Teacher/Ministry Grant
Students must be employed as a full-time teacher in a Catholic school or a full-time employee of the Archdiocese of Los Angeles. In order to be considered for this grant, students must submit employment verification (i.e. copy of teaching contract or official letter from school principal) to the Graduate Financial Aid Office. In addition, students must be enrolled in a Master’s degree program in Education, English, Pastoral Studies, Philosophy, Theology, or Bioethics. Award amounts based upon FAFSA information.
Religious Grant
LMU funds a grant of 25% of tuition costs for members of the Catholic clergy or Catholic religious orders. Awards will be made until all monies have been allocated. Details on how to apply are listed on the specific Department's Scholarship Application.
Scholarships
Roland Seidler Scholarship
Is available to all Bioethics Graduate students, based upon merit. There is no need to submit a separate application. Indicate your interest on The Bioethics Institute Graduate Scholarship Application.
Loans
Federal Stafford Loan
All students enrolled in a Master’s program may be eligible to borrow up to $20,500 per academic year in subsidized and/or unsubsidized loans. The amount of the loan cannot exceed the financial aid budget, less grants, scholarships or employment awards from any source. First-time borrowers at Loyola Marymount University will be required to complete Entrance Loan Counseling and a Master Promissory Note before loans will be processed. Students may complete Entrance Loan Counseling online at www.edfund.org/edtest and complete a Master Promissory Note online for the lender of their choosing. See our preferred lender list for more details at www.lmu.edu/gradfinancialaid
Hanna Weitz Loan
An institutional loan, for tuition only, offered at zero interest, while in school at least half-time. A fixed interest rate of 2% begins six-months after graduation or when the student falls below halftime status.
Federal Perkins Loan
An interest free loan while in school at least half-time; offered to students who qualify based on financial need. Interest rate is fixed at 5%.
Alternative Educational Loan
A private loan, interest rate varies by lender and depends on creditworthiness of the student. See our preferred lender list for more details at www.lmu.edu/gradfinancialaid
Assistantships and Employment
Graduate Assistantships
Students in any graduate program can apply for a variety of two-year on-campus positions. The average pay is about $18 per hour for an average of 20 hours per week. Contact the Graduate Admissions Office for information on current openings.
Career Development
LMU provides employment assistance to students interested in part-time or full-time employment on and off campus. Contact Career Development Services at 310-338-2871.
Eligibility Requirements
Enrollment Requirement & Financial Aid Budgets
Any graduate student enrolled in six (6) or more semester hours is considered to be a full-time student. Students taking fewer than six (6) units are considered part-time students. A graduate student is eligible for Financial Aid if enrolled in at least three (3) units of graduate level coursework. Courses numbered 600 or higher are considered graduate level. Your Financial Aid budget is determined by your unit load each term.
Provisional and Controlled Admitted Students
Provisional and Controlled admitted students must submit the necessary requirements of their particular program as specified by Graduate Admissions to receive federal financial aid.
Satisfactory Academic Progress (SAP) and Maintaining Financial Aid Eligibility
Financial aid recipients must complete a minimum of 6 units towards their graduate program each academic year (Fall semester, Spring semester and Summer Sessions) and maintain a 3.0 cumulative and semester grade point average. Grades of “F”, “NC”, “AU”, “I”, “IP” and “W” do not count towards maintaining financial aid eligibility. Students failing to meet the above requirements are placed on Financial Aid Probation and are given two semesters to complete the required units and/or raise their cumulative or semester grade point average. If a student is not eligible to be removed from Financial Aid Probation after two semesters, the student’s dean or program director is required to review the student’s academic record and recommend to the Financial Aid Office, whether to extend or deny the student additional financial aid.
Refund Calculations
When students receiving Financial Aid are eligible for a refund or a cancellation of LMU charges, their Financial Aid funding will also be adjusted. A refund is calculated when a student withdraws from the university, drops out, takes an unapproved leave of absence that will exceed 60 days, is expelled or otherwise does not complete the period of enrollment for which he or she was charged. The Financial Aid award will be recalculated based on federal refund requirements and the Controller’s Office will be notified. Any resulting charge will be added to the student’s account. Any resulting refund, due to a Federal Financial Aid program will be made by LMU for the student. The Controller’s Office will prepare a refund check for the student to pick up or be sent by mail.
Disclosure
Any fraudulent use of Financial Aid funds is cause for immediate suspension or dismissal, as well as discontinuance of future Financial Aid. This includes, but is not limited to, fraudulent statements on Financial Aid forms, inaccurate tax returns, and Student time Cards for both hours worked and signatures obtained.