Loyola University Maryland

Office of Financial Aid

Loan Related FAQs

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I took a semester off from school. How do I make sure my loans do not go into repayment?
Once you are enrolled at least half-time (as defined by your program) in a degree granting program  the University will automatically send information regarding your new enrollment status to the "National Student Clearinghouse".  Updated enrollment information is exported by the University’s Records Office several times a semester.  Typically, lenders and lending authorities who hold your loans review the Clearinghouse's website and retrieve enrollment information and update your student loan status according to the new enrollment information.

When do I begin repaying my loans?
Generally, students begin repayment of their Williams D. Ford Federal Direct Stafford Loan(s) and Loyola Student Loan six months after they cease to be enrolled at least half time in a degree-seeking program.  Private alternative loan repayment typically begins six months after you cease to be enrolled at least half-time in a degree-seeking program.  Contact your specific private alternative lender for more information.

How do I track my loan debt?
Students may view their loan history by accessing WebAdvisor and clicking View My Financial Aid by Year.  You will also receive correspondence from your lender each semester explaining the amounts of the loans, the interest, as well as when and where your loans are disbursed.  Additionally, the National Student Loan Data System (NSLDS) is a repository of information on federal loans and grants that you received at all schools.  You can access NSLDS by going to www.nslds.ed.gov.