by our College Data Analytics TeamMany students attending Loyola University Maryland can expect to receive financial assistance in various forms, such as scholarships, grants, loans, and work-study programs, making the cost of attendance more manageable.
The amount of financial assistance and scholarships or grants you can get varies based on your circumstances. Keep reading to learn more to help you to know just how much aid and scholarships to expect from Loyola Maryland.
Loyola University Maryland average financial aid offer for freshmen students is $29,944.00. 97% of reshman students get financial aid, most of which is in the form of grants and scholarships
Financial aid helps lower the cost, or the full retail price of the institution. But bear in mind that the only true college discount is scholarships & grants.
Student debt should be thought of as an “outcome” rather than “aid”. Read more about student loan debt at Loyola University Maryland.
Institutional scholarships and grants are financial aid awards given by colleges and universities to help students manage tuition costs and other education-related expenses. These awards, which do not need to be repaid, can be classified as merit-based or need-based. Students who excel academically, possess unique talents, or have specific skills can be eligible for merit-based institutional scholarships. Factors such as high school performance, standardized test scores, or participation in extracurricular activities often contribute to eligibility for these scholarships. Need-based institutional grants, on the other hand, are awarded to students who demonstrate financial need. The amount given is generally based on the student’s family’s financial situation, aiming to cover the gap between the cost of attendance and the family’s capacity to pay. To assess a student’s eligibility for need-based grants, colleges and universities may rely on information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants are essential for students, as they can substantially lower college expenses and make higher education more affordable.
The next numbers refer to grants and scholarships mainly supplied by the college itself.
96% of first-year students (1040 total) were offered scholarships at Loyola University Maryland, averaging $28,731.00 per person. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 15% of freshmen (161 total) received a federal grant, for about $5,160.00 a person.
The next table demonstrates grant and scholarship distributions by income level for freshmen getting any form of federally-funded Title IV aid, which includes Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 6.20% | $39,999.00 |
| Income 30k-48k | 3.52% | $36,999.00 |
| Income 48k-75k | 6.11% | $37,311.00 |
| Income 75k-110k | 7.59% | $34,486.00 |
| Income 110k + | 33.58% | $28,187.00 |
The table above displays undergrads who are obtaining Title IV aid, federal aid from the government including loans, grants or work-study. Learn more here.
1040 Loyola Maryland undergrads obtain grant aid (this is about 97% of the entire undergraduate student population). The average amount these students receive is $29,944.00.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.