• Federal Perkins Loan

    The Federal Perkins Loan is a fixed five percent (5%) interest rate loan for students with exceptional financial need.

    Undergraduate students may borrow up to $5,500 a year with an aggregate maximum of $11,000 for freshmen and sophomore level and $27,000 for juniors and senior level. Graduate students may borrow up to $8,000 per year with an aggregate maximum of undergraduate and graduate Perkins Loans of $60,000. Each university determines the maximum Federal Perkins Loan that can be offered based on its level of funding. LMU offers a maximum Federal Perkins Loan of up to $2,500 (or $4,000 for graduate students) to those students who qualify based on available funding and university policies.

    Requirements

    If you accept this loan you must:

    • Sign and submit your promissory note. The promissory note is signed the first year you receive the loan and is in effect for future Federal Perkins Loans you borrow at LMU as long as you remain continuously enrolled. A promissory note is a legal contract which states you, the borrower, will repay the loan. After submitting your commitment deposit to LMU, freshmen will be notified on how to complete the Federal Perkins Master Promissory Note.
    • Complete online Federal Perkins Loan Entrance Counseling.
    • Once you complete the Federal Perkins Loan Master Promissory Note and the online Federal Perkins Loan Counseling, loan funds will be disbursed to your LMU Student Account, no earlier than 10 days prior to the start date of the semester. Loans are disbursed half in the fall semester and half in the spring semester.

    Eligibility

    Eligibility for this loan in future years will be based on available funding. To be considered for the Federal Perkins loan in future years, you must:

    • Apply for financial aid annually by completing the Free Application for Federal Student Aid and LMU Financial Aid Application and meet federal student aid eligibility requirements.
    • Continue to meet financial need requirements.

    Repayment

    Payments on the Federal Perkins Loan begin nine months after you graduate or leave school. How much you pay back each month will depend on how much you borrowed and how long you have to repay your loan. Loyola Marymount University utilizes ECSI (Educational Computer Services, Inc.) to manage the repayment of all its Perkins Loans and Institutional Loans. ECSI (888-549-3274) is the single point of contact for all billing, payment, deferment, and cancellation activity.

  • Fritz B. Burns Student Loan

    The Burns Student Loan is a 1% loan offered to students who are out-of-state residents, are U.S. Citizens or permanent residents, and who will enroll full-time each semester. Eligible students are determined by the Financial Aid Office annually based on available funding. The Burns Student Loan requires a parent or other co-borrower. Loans of $5,000 or above require that the parent or other co-borrower be creditworthy as determined by university requirements.

    Terms & Conditions

    • Must complete the Free Application for Federal Student Aid (FAFSA) and other requirements to apply for financial aid annually.
    • Meet general requirements to be eligible for federal financial aid. Visit our Financial Aid site for more information on the general eligibility requirements to receive financial aid.
    • The student and co-borrower must be a U.S. Citizen or eligible non-citizen.
    • Must be enrolled full-time at LMU during each semester the loan is received.
    • Loan proceeds may only be used to cover direct LMU charges such as tuition, fees and housing. This loan cannot be used for off-campus rent, books or other expenses.
    • Must maintain satisfactory academic progress (SAP) for financial aid. Visit our Financial Aid site for more information on financial aid SAP requirements.
    • The Burns Student Loan is not available for summer enrollment.
    • The Burns Student Loan may be received for a maximum of eight semesters.
    • The Burns Student Loan is not available for enrollment in a non-LMU Study Abroad program.

    Requirements

    • Complete the promissory note requirement electronically. A promissory note is a legal contract which states you, the borrower and co-borrower, will repay the loan. A new promissory note must be completed each academic year the award has been offered.

    Once the requirements are completed for the Fritz B. Burns Student Loan, loan funds will be disbursed to your LMU Student Account no earlier than 10 days prior to the start date of the semester. Loans are disbursed half in the fall semester and half in the spring semester.

    Repayment

    • Repayment of the loan begins 6 months after you cease to be enrolled full-time at LMU.
    • Minimum monthly payment will be based on the total borrowed from the loan but will be at least $50. If your loan is more than $6,000, divide your total loan by 120 to find your minimum monthly payment.
    • The cumulative amount borrowed must be repaid within 10 years.
    • Loyola Marymount University utilizes ECSI (Educational Computer Services, Inc. 888-549-3274) to manage the repayment of its Institutional Loans. ECSI is the single point of contact for all billing, payment, and general account questions.
  • Jack Shandler Loan

    The Shandler Student Loan is a 1% interest loan offered to eligible students who are non-California residents, are U.S. Citizens or permanent residents, and who will enroll full-time each semester. The Shandler Student Loan requires a parent co-borrower. Eligibility is determined by the Financial Aid Office based on available funding.

    Terms & Conditions

    • Must complete the Free Application for Federal Student Aid (FAFSA) and other requirements to apply for financial aid annually.
    • Meet general requirements to be eligible for federal financial aid. Visit our Financial Aid site for more information on the general eligibility requirements to receive financial aid.
    • Be a U.S. Citizen or eligible non-citizen.
    • Must be enrolled full-time at LMU during each semester the loan is received.
    • Loan proceeds may only be used to cover direct LMU charges such as tuition, fees and housing. This loan cannot be used for off-campus rent, books or other expenses.
    • Must maintain satisfactory academic progress (SAP) for financial aid. Visit our Financial Aid site for more information on financial aid SAP requirements.
    • The Shandler Student Loan is not available for summer enrollment.
    • The Shandler Student Loan may be received for a maximum of eight semesters.
    • The Shandler Student Loan may not be used for enrollment in a non-LMU study abroad program.

    Requirements

    • Complete the promissory note requirement electronically. A promissory note is a legal contract which states you, the borrower and co-borrower, will repay the loan. A new promissory note must be completed each academic year the award has been offered.

    Once the requirements are completed for the Jack Shandler Student Loan, loan funds will be disbursed to your LMU Student Account no earlier than 10 days prior to the start date of the semester. Loans are disbursed half in the fall semester and half in the spring semester.

    Repayment

    • Repayment of the loan begins 6 months after you cease to be enrolled full-time at LMU.
    • Minimum monthly payment will be based on the total borrowed from the loan but will be at least $50. If your loan is more than $6,000, divide your total loan by 120 to find your minimum monthly payment.
    • The cumulative amount borrowed must be repaid within 10 years.
    • Loyola Marymount University utilizes ECSI (Educational Computer Services, Inc. 888-549-3274) to manage the repayment of its Institutional Loans. ECSI is the single point of contact for all billing, payment, and general account questions.
  • LMU California Student Loan

    The LMU California Student Loan is a 0% [*] interest loan offered to students who graduated from a California high school, are U.S. Citizens or permanent residents, and who will enroll full-time each semester. Eligible students are determined by the Financial Aid Office annually based on available funding. The LMU California Student Loan requires a parent or other co-borrower. Loans of $5,000 or more require that the parent or other co-borrower be creditworthy as determined by university requirements.

    Terms & Conditions

    • Must complete the Free Application for Federal Student Aid (FAFSA) and other requirements to apply for financial aid annually.
    • Meet general requirements to be eligible for financial aid. Visit our Financial Aid site for more information on the general eligibility requirements to receive financial aid.
    • The student and co-borrower must be a U.S. Citizen or eligible non-citizen.
    • Must be enrolled full-time at LMU during each semester the loan is received.
    • Loan proceeds may only be used to cover direct LMU charges such as tuition, fees and housing. This loan cannot be used for off-campus rent, books or other expenses.
    • Must maintain satisfactory academic progress (SAP) for financial aid. Visit our Financial Aid site for more information on financial aid SAP requirements.
    • The LMU California Student Loan is not available for summer enrollment.
    • The LMU California Student Loan may be received for a maximum of eight semesters.
    • The LMU California Student Loan is not available for enrollment in a non-LMU Study Abroad program.

    Requirements

    • Complete the promissory note requirement electronically. A promissory note is a legal contract which states you, the borrower and co-borrower, will repay the loan. A new promissory note must be completed each academic year the award has been offered.

    Once the requirements are completed for the LMU California Student Loan, loan funds will be disbursed to your LMU Student Account no earlier than 10 days prior to the start date of the semester. Loans are disbursed half in the fall semester and half in the spring semester.

    Repayment

    • Repayment of the loan begins 6 months after you cease to be enrolled full-time at LMU.
    • Minimum monthly payment will be based on the total borrowed from the loan but will be at least $50. If your loan is more than $6,000, divide your total loan by 120 to find your minimum monthly payment.
    • The cumulative amount borrowed must be repaid within 10 years.
    • Loyola Marymount University utilizes ECSI (Educational Computer Services, Inc. 888-549-3274) to manage the repayment of its Institutional Loans. ECSI is the single point of contact for all billing, payment, and general account questions.

    * The loan is 0% interest while the student is in attendance, during a six month grace period, and during repayment. If two consecutive installments are missed, the loan will default and the interest rate shall become 10%.

  • Miyawaki Hawaii Student Loan

    The Miyawaki Hawaii Student Loan is a 0% loan [*] offered to students who are U.S. Citizens or permanent residents, and who will enroll full-time each semester Loyola Marymount University. The Miyawaki Hawaii Student Loan requires a parent co-borrower. Eligibility is determined by the Financial Aid Office annually based on available funding.

    Terms & Conditions

    • Must complete the Free Application for Federal Student Aid (FAFSA) and other requirements to apply for financial aid annually.
    • Meet general requirements to be eligible for federal financial aid. Visit studentaid.ed.gov for more information on the general eligibility requirements to receive federal financial aid.
    • Be a U.S. Citizen or eligible non-citizen.
    • Must be enrolled full-time at LMU during each semester the loan is received.
    • Loan proceeds may only be used to cover direct LMU charges such as tuition, fees and housing. This loan cannot be used for off-campus rent, books or other expenses.
    • To remain eligible you must maintain satisfactory academic progress.
    • The Miyawaki Hawaii Student Loan is not available for summer enrollment.
    • The Miyawaki Hawaii Student Loan may be received for a maximum of eight semesters.

    Requirements

    • Complete the promissory note requirement electronically. A promissory note is a legal contract which states you, the borrower and co-borrower, will repay the loan. A new promissory note must be completed each academic year the award has been offered.

    Once the requirements are completed for the Miyawaki Student Loan, loan funds will be disbursed to your LMU Student Account no earlier than 10 days prior to the start date of the semester. Loans are disbursed half in the fall semester and half in the spring semester.

    Repayment

    • Repayment of the loan begins 6 months after you cease to be enrolled full-time at LMU.
    • Minimum monthly payment will be based on the total borrowed from the loan but will be at least $50. If your loan is more than $6,000, divide your total loan by 120 to find your minimum monthly payment.
    • The cumulative amount borrowed must be repaid within 10 years.
    • Loyola Marymount University utilizes ECSI (Educational Computer Services, Inc. 888-549-3274) to manage the repayment of its Institutional Loans. ECSI is the single point of contact for all billing, payment, and general account questions.

    * The loan is 0% interest while the student is in attendance, during a six month grace period, and during repayment. If two consecutive installments are missed, the loan will default and the interest rate shall become 10%.