Financial Aid and Study Abroad
The chart below explains how your aid will apply depending on the type of program that you attend.
| Type of Program | Term | Cost | Financial Aid |
| Loyola Exchange | Semester and Year | Pay Loyola tuition, study abroad fee ($400/semester) and IT fee ($300/semester) to Loyola. Room and board are paid to host institution. | Loyola tuition scholarships and all federal and state aid apply. If you have a housing scholarship from Loyola, this will not apply on Loyola exchanges. *Post 9/11 GI Bill applies only if host institution is pre-approved* |
| Loyola Study Abroad Programs (For programs with limited exchange spots – Massey, ACU, Sacro Cuore, London Met and Maynooth) | Semester and Year | Loyola will bill for tuition at specific institution, study abroad fee ($400/semester) and IT fee ($300/semester). | Federal and state aid only. Please note that students going as "Study Abroad" and not "Exchange" cannot use Loyola scholarships and grants, and will not receive this money as a refund either. *Post 9/11 GI Bill does not apply* |
| ISEP Exchange | Semester and Year | Pay Loyola Tuition and room and board (Plan 18) to Loyola and receive tuition, room and board at institution abroad. Pay study abroad fee ($400/semester) and IT fee ($300/semester) to Loyola. | All Loyola scholarships and grants and federal and state aid apply. *Post 9/11 GI Bill does not apply* |
| Non-Loyola Study Abroad or ISEP Direct Programs* | Semester, Year, Summer | Pay Program fee, which may include tuition, room, and perhaps more. Pay study abroad fee ($400/semester) to Loyola. | Federal aid only *Post 9/11 GI Bill does not apply* |
| Loyola Faculty-led | Summer | Pay Program fee + study abroad fee ($400/program). | Only financial aid or scholarships available for use in the summer. *Post 9/11 GI Bill DOES apply* |
*Students participating in a non-Loyola program must complete either the Consortium Agreement for Study Abroad (if program is through an accredited US institution) or the Contractual Agreement for Study Abroad (if the program is through a non-university program provider.)
Additional Financial Aid for Semester and Summer Programs
The only additional funds available for study abroad expenses are Federal Parent (Plus) Loans and alternative loans. You should talk to your financial aid counselor to determine if you are eligible for any additional loans based on your FAFSA.
To be eligible for federal aid for summer education abroad, you must be enrolled in at least 6 credit hours. You are eligible for summer aid only to the extent that you have not reached your annual aid limits during the previous fall and spring semesters and meet all other eligibility requirements. If you borrow the maximum amount of student loans during the fall and spring semesters, you may be eligible for alternative loans, and additional Parent Plus loans. Contact the Office of Scholarships and Financial Aid for more information.
You also may be eligible for a number of scholarships. See Study Abroad Scholarships for more detailed information.
How/When is Financial Aid Applied
The Scholarships and Financial Aid office will deal with all aid as well as pay any outstanding allowable charges. Remember that charges such as parking, health services or balances from previous semesters cannot be paid by Financial Aid unless you have authorized it in writing with the Student Finance Office.
If you have completed the entire financial aid process and your aid has credited, the earliest date that a refund will be available is the first day of classes at Loyola. Refund checks can be requested online at Student Finance.
Post 9/11 GI Bill and Study Abroad
As of 1 August 2020, Loyola students who receive these benefits are only allowed to apply them to Loyola faculty-led programs (if all courses are taught by Loyola faculty) OR to direct enroll at certain pre-approved overseas institutions. If a host institution is approved, it will appear in the VA's WEAMS database. Simply type the institution's name in the appropriate text field and hit Return.
You may NOT use GI Bill benefits to pay for semester or year-long programs at exchange partner institutions or non-Loyola Study Abroad programs (third party providers).
Read more about the new guidance here.
Click here to find out more about the cost of study abroad programs.
Click here to return to Study Abroad in 5 Simple Steps.
Revised 9/20/2022