The Value of a Loras Education
We partner with every student and family to understand your unique financial needs and strive to offer you the best financial aid package from the outset. A Loras education delivers a strong return on investment.
Loras offers competitive tuition and is committed to making education accessible and affordable. Loras provides a range of financial aid options, including scholarships, grants, work-study, and need-based assistance to help offset tuition costs.
Looking for graduate financial aid?
Types of Aid
The financial aid office combines these four types of aid in proportions that meet the student’s demonstrated financial need. The goal is to create an affordable solution without overburdening you with future debt. Grants and scholarships reduce debt, while loans and work study provide critical access to funding that may be needed in addition to your own contributions from savings, income, and family support.
Money awarded based on criteria like academics, activities, talents, or other traits.
Money that does not need to be repaid, usually based on financial need.
Money borrowed by you or your parents that must be repaid with interest.
Part-time employment while in school allows you to earn money to pay for college expenses.
Scholarships generally don’t need to be repaid. They may come from colleges, private companies, nonprofits, religious groups, etc.
Scholarships are available for all first-year, transfer, and international students. They are determined annually and will be published for the 2023-24 academic year in October 2023.
Help ease tuition costs and reduce the amount you may need to borrow for your education. And connect with other students, staff, and faculty while building your resume.
Opportunities are available in areas such as the mailroom, food service, library, and academic and professional departments. After your first year, you can even explore off-campus work-study options that give you a chance to connect to the community and build your resume even further.
To qualify, file the FAFSA and demonstrate financial need. Students must be enrolled and in good standing for at least half time status to be eligible for on-campus employment.
Grants can come from the federal and state governments, colleges, or private organizations. Examples are the Pell Grant and grants awarded through the state of Iowa.
The Loras Endowed Grant is based on merit and financial need. This grant is typically renewed each year based on FAFSA results. student financial need and the total of all other Loras College scholarships and grants awarded.
Federal Pell Grant
Eligibility for Federal Pell Grants is determined by the FAFSA. The federal government determines the maximum Pell amount. In 2023, the maximum award amount was $7,395.
Supplemental Educational Opportunity Grants
Federal Supplemental Educational Opportunity Grant (SEOG) funds are awarded to all Pell Grant recipients. The award level is dependent upon individual needs and the level of federal funding. Loras students eligible for SEOG funds may receive up to $750. The priority deadline for this award is March 1.
Iowa Tuition Grant
These grants assist Iowa residents with demonstrated financial need who choose to attend an Iowa private college. Eligibility to receive funds is determined by the completion of the FAFSA by July 1. An Iowa Tuition Grant can be received for a maximum of eight semesters of full-time study. Iowa legislation determines the maximum award. In 2022, the maximum award was $7,500.
In the event that available state funds are insufficient to pay the full amount of each approved grant, the Iowa Department of Education has the authority to reduce the award administratively.
While the Iowa Tuition Grant is the largest state grant funded program, there are a number of other Iowa grants available. Learn more about the state grant opportunities in Iowa and how to apply at iowacollegeaid.gov.
Undergraduate students that reside outside the state of Iowa are eligible for up to $5,000 in an out-of-state grant. Students must complete the FAFSA and have an expected family contribution of $15,000 or less. Students may renew this grant annually if their grade point average remains at 2.0 or above and they continue to meet the initial eligibility criteria.
This federally mandated process confirms the accuracy of data provided by selected applicants on the Free Application for Federal Student Aid (FAFSA). Approximately one in three students is selected by the Department of Education to complete the verification process.
Verification can include the student, their parent(s), or spouse, if applicable, you are required to provide certain documents to the College for review. If the documentation you provided to Loras does not match what was reported on the FAFSA, the financial planning office must update elements of your FAFSA which can result in changes to your financial aid need-based awarding and eligibility.
Frequently Asked Questions
Q: How do I pay my bill?
- Statements are published on the first of each month, beginning in July. All students with an outstanding balance on August 1, are placed in a no-cost four-installment payment plan (Aug, Sept, Oct, Nov) for fall, and (Dec, Jan, Feb, Mar) for spring.
Billing statements will be published online for all registered students:
- July 1 for fall term
- December 1 for spring term
- May 1 for summer term.
Payment of all charges not covered by financial aid or loans is due:
- August 15 for fall term
- December 15 for spring term
- June 15 for summer term
Loras College also allows students the option of paying in four installments per semester.
Q: I was selected for verification, what does this mean?
A: The Federal Aid Processor selects around 30% of FAFSA filers for verification. This means you must submit the required documents to the school to check the accuracy of the FAFSA information.
Q: How can I expedite the verification process?
A: Utilizing the FAFSA-IRS Data Retrieval Tool when completing or correcting the FAFSA or request Tax Return Transcripts as soon as notified. Make sure to submit all requested documents as soon as possible to avoid delays in receiving your financial aid award letter.
Q: Why are my federal loans not showing on my account?
A: The Master Promissory Note and Entrance Counseling needs to be completed for first-time borrowers in order for these loans to be applied to your student account. Complete these online.
Q: Do I need to apply for a Direct Parent PLUS Loan each year?
A: Yes! If you are seeking additional funds through a Parent PLUS Loan, you must apply annually via the PLUS loan application. The PLUS Loan Master Promissory note is only completed at time of initial application.
Q: How do I apply for financial aid?
A: As early as your senior year of high school. To get started, complete the Free Application for Federal Student Aid early your senior year and prior to our March 1 priority deadline.
Q: Where can I find refund information about dropping or withdrawing from the college?
A: See our Refund Policy for students dropping a class or withdrawing.