Frequently Asked Questions


General FAQs

Does the degree differ for the Executive MBA, Professional's MBA, or Emerging Leaders MBA program?

No, it is the same degree offered in different formats for different audiences. Students who graduate from any of these programs earn an MBA from Loyola University Maryland.

How many students will be in a class?

Class sizes range by program, with 22-35 students on average in a class.

How do I get to campus?

Our graduate centers are located in Timonium, MD and Columbia, MD.


Tuition & Financial Aid

Do I have to pay the tuition all at once?

Tuition billing schedules vary by program. Please contact the office of the program you are interested in to discuss billing schedules for the program or the office of financial aid to discuss financial aid options.

How much is tuition?

Tuition varies by program. The costs for the upcoming academic year are available online.

What is included in the tuition?

The tuition for the Executive MBA and Emerging Leaders MBA is all inclusive. It includes:

  • Course material, including books and cases
  • Residency accommodations
  • Travel and accommodations for field studies

For the Professional's MBA, Master of Science in Finance, Cybersecurity Certificate, Accounting Certificate, and Master of Accounting, tuition is based on a per credit hour basis.

What are the benefits of funding your graduate degree through loans?

A Federal Stafford Loan does not go into repayment until six months after a student either falls below half-time or finishes their program. Federal Direct unsubsidized Stafford Loans have a fixed interest rate of 6.8%. Although interest accrues while the student is in school, this interest rate is usually much better than the interest rate on a credit card. Students can choose to pay the interest or let it be added to the principal of the loan.

How common is it for MBA (or graduate) students to take out loans?

It is more common than you think to take out a loan. According to a report issued by the 2007-08 National Postsecondary Student Aid Study (NPSAS), roughly 55.5% of students seeking an MBA take out loans, with the average debt upon graduation being $31, 927.

A lot of MBA students will use loans to pay for their tuition up front because they don’t receive reimbursement from their employers until they receive a grade. The loan can then be paid with the reimbursement.

What is the process for taking out loans?  How much time does the application take?

More about our application procedures for financial aid, including deadlines, processing time, and how you will be notified, can be found on the Loyola Financial Aid website, www.loyola.edu/financialaid

How much can I borrow?

Students can borrow up to their full cost of attendance which includes tuition, registration fees, and a standard allowance for books and living expenses. The federal Stafford loan maximum per academic year is $20,500. A student can then apply for a Federal Graduate PLUS loan to make up the difference if needed. Graduate PLUS loans do require a credit check; however, the government is only looking for an adverse credit history, not a debt-to-income ratio.

Does Loyola offer scholarships to graduate students?  

A limited number of merit award scholarships are available for the majority of our programs. First consideration is given to those who apply by the priority application deadlines for each program.

Course waivers that lead to cost savings are available for qualified applicants of the Professional's MBA and Master of Science in Finance programs. An unofficial course waiver analysis form can be submitted to mba@loyola.edu.   

What forms of aid are available to graduate students other than loans?

A limited number of graduate assistantships are offered to graduate students. A complete listing can be found at www.loyola.edu/graduateassistantships.

The office of student life has a limited number of resident assistantship positions that are open to graduate students. Students interested in these positions should contact the director of student life for an application and further information.

Do you offer a payment plan?

Student administrative services offers a monthly payment plan for graduate students during the fall and spring semesters. Students need only be registered for one course to have their payments divided into four equal installments.  A $35-per-semester administrative fee and a course registration fee of $25 are not included in the plan. Visit the Loyola Tuition Management Systems site for more information.

Is financial aid available to cover summer courses?

Yes. Summer begins the new academic year and you may apply for loan assistance to cover summer, fall, and spring. 

How can I learn more about financial aid?

To learn more about loans, scholarships, and financial assistance, please visit www.loyola.edu/financialaid


Admission

How often are information sessions held?  

Information sessions are held at our Timonium and Columbia Graduate Centers throughout the year and we offer virtual information sessions about once a month. The full schedule and program-specific registration is available here. Please contact us to discuss a one-on-one meeting or to arrange for a class visit.

 Can I apply online? 

Online applications are available for all programs, except Leadership Essentials. To apply, visit http://www.loyola.edu/sellinger/apply.aspx

How should I submit supplemental application documents?

Supplemental application documents include a current resume, essay, official transcripts, letters of recommendation (if applicable), and GMAT score report (if applicable, sent directly to Loyola using the institution code 5370).

Please request that your official transcripts and letters of recommendation be sent directly to Loyola. All application documents should be sent via mail or email to: 

Loyola University Maryland
Graduate Admission Processing Center
P.O. Box 1447
Beltsville, MD 20704
graddocs@loyola.edu

What should the letters of recommendation say?

We look for evidence of leadership achievements and potential. Therefore, we encourage your recommender to discuss your professional achievements, career progression, as well as important personal characteristics such as team leadership skills, drive, and determination. Letters of recommendation need to be on official letterhead with an original signature.

What if I received my bachelor’s degree from a university outside of the United States?  

Applicants who received a degree from a university outside of the U.S. must have their transcripts evaluated by a NACES approved evaluation agency. Please review the list of approved agencies here. Loyola recommends World Education Services (WES)

Do I have to take the GMAT?

We prefer you take the GMAT for the Professional's MBA, Master of Science in Finance, Emerging Leaders MBA, and Master of Accounting; however, if you have already taken the GRE, it will be accepted. If you take the GRE, your score will be converted to a predicted GMAT score. Please refer to the GRE Comparison tool at www.ets.org to learn more.  

The GMAT is waived for applicants to the Executive MBA program, and may be waived for those who meet certain academic or professional requirements for other programs. Please review the GMAT Waiver Request Policy.

GMAT review courses are offered by Loyola University Maryland. For more information visit the GMAT Preparation page.

Can I visit a class?

Yes, there is no better way to “Test Drive” the program. Please check our information session page to register for a scheduled "Test Drive" session or contact us to discuss individual opportunities to visit a class.

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