The following questions are frequently asked of the friendly staff of Student Finance.
We encourage you to view our e-Commerce Instructional Video Series
If you have additional questions, please feel free to contact us directly. Our contact information is at the bottom of this page.
Question. What if I don't receive a bill?
Answer. The original billing statements for each semester are mailed July 15th for fall, December 15th for spring and May 15th for summer. Around the same time we mail the bills, we also send an email reminder that your account summary has been updated and is available for viewing. If you do not receive a bill, you can view your Account Summary in LORA under Tuition & Billing. Even if you do not receive a bill in the mail, you are expected to meet our payment deadlines. Click here for more information on our payment deadlines.
Question. Where can I obtain a copy of my bill?
Answer. Your Account Summary can be viewed in LORA under Tuition & Billing or you may request an official printed statement from the Office of Student Finance.
Question. How can I get my bills sent to my parents?
Answer. First, we suggest you consider signing up for paperless bills. Help us save the environment and receive your bills through email. You can even authorize multiple persons to receive email notifications whenever you have a new bill available. And it's easy to activate. See our short instructional video for full details.
Or, if you prefer to receive paper bills, you may request that we set up a "billing" address on your account. By utilizing this service, all bills will be mailed to your "billing" address. Your other listed addresses will not be affected and will still be used by the university community for other materials. Only billing information will be sent to the "billing" address. To add a "billing" address, sign on to LORA, click on "Personal Info", then "Addresses". Then click on "Add New Address" and select "Billing". You can now add a billing address to your record.
Question. When is the last day to pay without a penalty?
Answer. You are always given a 30 day grace period from the start of classes before a late fee is assessed.
Question. What are my payment options?
Answer. Payments are expected by the first day of classes of each semester. Payments can be made in the Bursar's Office by cash, check or electronic check, or through our online BillPay system using VISA, MasterCard or American Express. Payments may also be made through one of the approved monthly payment plans.
Question. Can I send monthly payments to Loyola?
Answer. Monthly payment plans are accepted only through enrollment with one of our approved partners, TuitionPay by Sallie Mae or Tuition Management Systems. For a low enrollment fee, all or part of tuition, fees, room and board may be budgeted throughout the academic year. These plans charge no interest. More information can be found at our web page, Monthly Budget Plans.
Question. Can I keep my work-study paychecks?
Answer. If you do not have an outstanding tuition balance, you may keep your paychecks. If you have a balance due and you cannot pay your entire bill, you may deduct an amount equal to the dollar value of the work study award you plan to earn. But in return, all hours must be submitted in a timely fashion and paychecks must be deposited directly into your tuition account each pay period. As a convenience, you may authorize the Human Resources office to directly credit your earnings to your student tuition bill.
Question. What happens if I can't pay on time?
Answer. A late payment fee of $250 will be assessed.
Question. Where can I apply for a loan?
Answer. Our Office of Scholarships and Financial Aid can assist you in determining which financing option is right for you. Federal assistance and private lending may be available depending on your situation. Please visit our Office of Scholarships and Financial Aid for more information.
Question. Why hasn't my loan come in yet?
Answer. There can be a number of reasons why your loan has not yet arrived. First, be sure you have accepted your award; this can be done online through LORA under "Financial Aid (PowerFaids)". Also, you may be required to complete a Master Promissory Note as well as an Entrance Interview. Check under “Missing Documents Required for Financial Aid” in LORA or with your counselor in the Office of Scholarships and Financial Aid.
Question. If I have excess money on my account, what are my options?
Answer. After all tuition, fees and other charges are paid and you still have excess funds in your student account, you may request a refund check or a deposit to your Express Card. A refund can be requested by using our online refund request form or from the Account Summary page in LORA. Refunds usually require about a week processing time and will be released only when all funds are received. However, if payment was made by credit card, the same card used to make the payment will be refunded. If you want us to transfer funds to your Express Card for use across campus, just let us know how much you want us to transfer on the online refund request form or contact the Student Finance Office.
Question. Where can I get my refund check?
Answer. Students with an electronic refund profile on our e-Commerce system will have their refund issued to that bank account once approved. Refunds to students without an electronic refund profile and refunds to parents and other 3rd parties will be issued by check and mailed to the address provided on the refund request form. Refund checks issued to students will only be mailed to an address listed in LORA. And remember, refunds usually require about a one week processing time.