Student Financial Responsibility Agreement
In accordance with university policy and procedures students are required to accept the Student Financial Responsibility Agreement before they are allowed to self-register for any classes.
Students who are enrolled by an administrator are required to click on “I Accept” before they are able to view their course schedule.
The Agreement effective as of April 23, 2024 is as follows:
I understand when I register for any class at Loyola University Chicago or receive any service from Loyola University Chicago, I accept full responsibility to pay all tuition, fees, and other associated costs assessed as a result of my registration and/or receipt of services. I further understand and agree that my registration and acceptance of these terms constitutes a contractual agreement (i.e., a financial obligation in the form of an educational loan as defined by the U.S. Bankruptcy Code at 11 U.S.C. §523(a)(8)) in which Loyola University Chicago is providing me educational services, deferring some or all of my payment obligation for those services, and I promise to pay for all assessed tuition, fees, and other associated costs by the published or assigned due date.
I understand and agree that if I drop or withdraw from some or all of the classes for which I register, I will be responsible for paying all or a portion of tuition and fees in accordance with the published tuition refund schedule at https://www.luc.edu/bursar/withdrawalschedulechangecalendars/. I have read the terms and conditions of the published tuition refund schedule and understand those terms are incorporated herein by reference. I further understand my failure to attend class or receive a bill does not absolve me of my financial responsibility as described above. If I decide to completely withdraw from Loyola University Chicago I will follow the instructions at https://www.luc.edu/regrec/students/totalwithdrawal/, which I understand and agree are incorporated herein by reference.
I understand Loyola University Chicago is bound by the Family Educational Rights and Privacy Act (FERPA). Therefore, I understand that if I want Loyola University Chicago to share information from my education record, including records related to my student account, with someone else, I must provide written permission by following the procedure outlined at https://www.luc.edu/regrec/aboutus/ferpa/. I further understand I may revoke my permission at any time as instructed in the same procedure.
I agree to provide my Social Security number (SSN) or taxpayer identification number (TIN) to Loyola University Chicago upon request and as required by IRS regulations for Form 1098-T or any other tax reporting purposes. If I fail to provide my SSN or TIN to Loyola University Chicago, I agree to pay any and all IRS fines assessed as a result of my missing SSN/TIN. I consent to receive my annual IRS Form 1098-T, Tuition Statement, electronically from Loyola University Chicago. I understand if I do not consent to receive my Form 1098-T electronically, a paper copy will be provided. I understand I can withdraw this consent or request a paper copy by following the instructions at https://www.luc.edu/bursar/1098t.shtml.
I understand Loyola University Chicago uses electronic billing (e-bill) as its official billing method; therefore, I am responsible for viewing and paying my student account e-bill by the scheduled due date. I further understand failure to review my e-bill does not constitute a valid reason for paying my bill after the due date. E-bill information is available at https://www.luc.edu/bursar/billing_information.shtml. I understand administrative, clerical, or technical billing errors do not absolve me of my financial responsibility to pay the correct amount of tuition, fees, and other associated financial obligations assessed as a result of my registration at Loyola University Chicago.
I understand and agree that if I fail to pay my student account bill or any monies due and owing Loyola University Chicago by the scheduled due date, Loyola University Chicago may place a financial hold on my student account, preventing me from registering for future classes, accessing transcripts, or receiving my diploma. I understand and agree if I fail to pay my student account bill or any monies due and owing Loyola University Chicago by the scheduled due date, Loyola University Chicago will assess late payment and/or finance charges at the rate of 1.5% per month on the past-due portion of my student account until my past-due account is paid in full. Requests for release of official transcripts withheld because of a financial hold will be reviewed in accordance with university policy located at https://www.luc.edu/bursar/policyforobtainingatranscriptordiplomawithheld/.
If a payment made to my student account is returned by the bank for any reason, I agree to repay the original amount of the payment plus a returned payment fee of $40. I understand multiple returned payments and/or failure to comply with the terms of any payment plan or agreement I sign with Loyola University Chicago may result in cancellation of my classes and/or suspension of my eligibility to register for future classes at Loyola University Chicago.
I understand and agree Loyola University Chicago uses email as an official method of communication with me and that, therefore, I am responsible for reading the emails I receive from Loyola University Chicago on a timely basis. I authorize Loyola University Chicago and its agents and contractors to contact me at my current and any future cellphone number(s), email address(es), or wireless device(s) regarding my delinquent student account(s)/loan(s), any other debt I owe to Loyola University Chicago or to receive general information from Loyola University Chicago. I authorize Loyola University Chicago and its agents and contractors to use automated telephone dialing equipment, artificial or prerecorded voice or text messages, and personal calls and emails in their efforts to contact me.
I understand and agree that I am responsible for keeping Loyola University Chicago records up to date with my current mailing addresses, email addresses, and phone numbers by following the procedure at https://www.luc.edu/regrec/students/#d.en.82026. The linked procedure is incorporated herein by reference. Upon leaving Loyola University Chicago for any reason, it is my responsibility to provide Loyola University Chicago with updated contact information for purposes of continued communication regarding any amounts that remain due and owing to Loyola University Chicago.
I understand aid described as “estimated” on my Financial Aid Award does not represent actual or guaranteed payment but is an estimate of the aid I may receive if I meet all requirements stipulated by that specific aid program.
I understand my Financial Aid Award is contingent upon my continued enrollment and attendance in each class upon which my financial aid eligibility was calculated. If I drop any class before completion, I understand my financial aid eligibility may decrease and some or all of the financial aid awarded to me may be revoked.
If some or all of my financial aid is revoked because I dropped or failed to attend class, I agree to pay all balances arising as a result of the revoked aid, including balances arising from amounts previously refunded to me.
I agree to allow financial aid I receive to pay any and all charges assessed to my account at Loyola University Chicago such as tuition, fees, campus housing and meal plans, student health insurance, parking permits, service fees, fines, bookstore charges, or any other amount in accordance with the terms of the aid.
I understand any federal Title IV financial aid I receive, except for Federal Work- Study (FWS) wages, will first be applied to any outstanding balance on my account for tuition, fees, and room and board. Title IV financial aid includes aid from the Pell Grant, Supplemental Educational Opportunity Grant (SEOG), Direct Loan, PLUS Loan, and TEACH Grant programs. I authorize Loyola University Chicago to apply my Title IV financial aid to other charges assessed to my student account such as student health insurance, parking permits, bookstore charges, service fees and fines, and any other education-related charges.
I understand all prizes, awards, scholarships, and grants awarded to me by Loyola University Chicago will be credited to my student account and applied toward any outstanding balance. I further understand my receipt of a prize, award, scholarship, or grant is considered a financial resource according to federal Title IV financial aid regulations and may, therefore, reduce my eligibility for other federal and/or state financial aid (i.e., loans, grants, Federal Work Study), which if already disbursed to my student account, must be reversed and returned to the aid source.
If any provision, term, or clause of this Agreement is declared illegal, unenforceable, or ineffective in a legal forum with competent jurisdiction to do so, this Agreement shall be deemed severable, and all other provisions, terms, and clauses of the Agreement will remain valid and binding on the Parties.
This agreement supersedes all prior understandings, representations, negotiations, and correspondence between the student and Loyola University Chicago, constitutes the entire agreement between the parties with respect to the matters described, and shall not be modified or affected by any course of dealing or course of performance. This agreement may be modified by Loyola University Chicago if the modification is signed by me. Any modification is specifically limited to those policies and/or terms addressed in the modification.
In accordance with university policy and procedures students are required to accept the Student Financial Responsibility Agreement before they are allowed to self-register for any classes.
Students who are enrolled by an administrator are required to click on “I Accept” before they are able to view their course schedule.
The Agreement effective as of April 23, 2024 is as follows:
I understand when I register for any class at Loyola University Chicago or receive any service from Loyola University Chicago, I accept full responsibility to pay all tuition, fees, and other associated costs assessed as a result of my registration and/or receipt of services. I further understand and agree that my registration and acceptance of these terms constitutes a contractual agreement (i.e., a financial obligation in the form of an educational loan as defined by the U.S. Bankruptcy Code at 11 U.S.C. §523(a)(8)) in which Loyola University Chicago is providing me educational services, deferring some or all of my payment obligation for those services, and I promise to pay for all assessed tuition, fees, and other associated costs by the published or assigned due date.
I understand and agree that if I drop or withdraw from some or all of the classes for which I register, I will be responsible for paying all or a portion of tuition and fees in accordance with the published tuition refund schedule at https://www.luc.edu/bursar/withdrawalschedulechangecalendars/. I have read the terms and conditions of the published tuition refund schedule and understand those terms are incorporated herein by reference. I further understand my failure to attend class or receive a bill does not absolve me of my financial responsibility as described above. If I decide to completely withdraw from Loyola University Chicago I will follow the instructions at https://www.luc.edu/regrec/students/totalwithdrawal/, which I understand and agree are incorporated herein by reference.
I understand Loyola University Chicago is bound by the Family Educational Rights and Privacy Act (FERPA). Therefore, I understand that if I want Loyola University Chicago to share information from my education record, including records related to my student account, with someone else, I must provide written permission by following the procedure outlined at https://www.luc.edu/regrec/aboutus/ferpa/. I further understand I may revoke my permission at any time as instructed in the same procedure.
I agree to provide my Social Security number (SSN) or taxpayer identification number (TIN) to Loyola University Chicago upon request and as required by IRS regulations for Form 1098-T or any other tax reporting purposes. If I fail to provide my SSN or TIN to Loyola University Chicago, I agree to pay any and all IRS fines assessed as a result of my missing SSN/TIN. I consent to receive my annual IRS Form 1098-T, Tuition Statement, electronically from Loyola University Chicago. I understand if I do not consent to receive my Form 1098-T electronically, a paper copy will be provided. I understand I can withdraw this consent or request a paper copy by following the instructions at https://www.luc.edu/bursar/1098t.shtml.
I understand Loyola University Chicago uses electronic billing (e-bill) as its official billing method; therefore, I am responsible for viewing and paying my student account e-bill by the scheduled due date. I further understand failure to review my e-bill does not constitute a valid reason for paying my bill after the due date. E-bill information is available at https://www.luc.edu/bursar/billing_information.shtml. I understand administrative, clerical, or technical billing errors do not absolve me of my financial responsibility to pay the correct amount of tuition, fees, and other associated financial obligations assessed as a result of my registration at Loyola University Chicago.
I understand and agree that if I fail to pay my student account bill or any monies due and owing Loyola University Chicago by the scheduled due date, Loyola University Chicago may place a financial hold on my student account, preventing me from registering for future classes, accessing transcripts, or receiving my diploma. I understand and agree if I fail to pay my student account bill or any monies due and owing Loyola University Chicago by the scheduled due date, Loyola University Chicago will assess late payment and/or finance charges at the rate of 1.5% per month on the past-due portion of my student account until my past-due account is paid in full. Requests for release of official transcripts withheld because of a financial hold will be reviewed in accordance with university policy located at https://www.luc.edu/bursar/policyforobtainingatranscriptordiplomawithheld/.
If a payment made to my student account is returned by the bank for any reason, I agree to repay the original amount of the payment plus a returned payment fee of $40. I understand multiple returned payments and/or failure to comply with the terms of any payment plan or agreement I sign with Loyola University Chicago may result in cancellation of my classes and/or suspension of my eligibility to register for future classes at Loyola University Chicago.
I understand and agree Loyola University Chicago uses email as an official method of communication with me and that, therefore, I am responsible for reading the emails I receive from Loyola University Chicago on a timely basis. I authorize Loyola University Chicago and its agents and contractors to contact me at my current and any future cellphone number(s), email address(es), or wireless device(s) regarding my delinquent student account(s)/loan(s), any other debt I owe to Loyola University Chicago or to receive general information from Loyola University Chicago. I authorize Loyola University Chicago and its agents and contractors to use automated telephone dialing equipment, artificial or prerecorded voice or text messages, and personal calls and emails in their efforts to contact me.
I understand and agree that I am responsible for keeping Loyola University Chicago records up to date with my current mailing addresses, email addresses, and phone numbers by following the procedure at https://www.luc.edu/regrec/students/#d.en.82026. The linked procedure is incorporated herein by reference. Upon leaving Loyola University Chicago for any reason, it is my responsibility to provide Loyola University Chicago with updated contact information for purposes of continued communication regarding any amounts that remain due and owing to Loyola University Chicago.
I understand aid described as “estimated” on my Financial Aid Award does not represent actual or guaranteed payment but is an estimate of the aid I may receive if I meet all requirements stipulated by that specific aid program.
I understand my Financial Aid Award is contingent upon my continued enrollment and attendance in each class upon which my financial aid eligibility was calculated. If I drop any class before completion, I understand my financial aid eligibility may decrease and some or all of the financial aid awarded to me may be revoked.
If some or all of my financial aid is revoked because I dropped or failed to attend class, I agree to pay all balances arising as a result of the revoked aid, including balances arising from amounts previously refunded to me.
I agree to allow financial aid I receive to pay any and all charges assessed to my account at Loyola University Chicago such as tuition, fees, campus housing and meal plans, student health insurance, parking permits, service fees, fines, bookstore charges, or any other amount in accordance with the terms of the aid.
I understand any federal Title IV financial aid I receive, except for Federal Work- Study (FWS) wages, will first be applied to any outstanding balance on my account for tuition, fees, and room and board. Title IV financial aid includes aid from the Pell Grant, Supplemental Educational Opportunity Grant (SEOG), Direct Loan, PLUS Loan, and TEACH Grant programs. I authorize Loyola University Chicago to apply my Title IV financial aid to other charges assessed to my student account such as student health insurance, parking permits, bookstore charges, service fees and fines, and any other education-related charges.
I understand all prizes, awards, scholarships, and grants awarded to me by Loyola University Chicago will be credited to my student account and applied toward any outstanding balance. I further understand my receipt of a prize, award, scholarship, or grant is considered a financial resource according to federal Title IV financial aid regulations and may, therefore, reduce my eligibility for other federal and/or state financial aid (i.e., loans, grants, Federal Work Study), which if already disbursed to my student account, must be reversed and returned to the aid source.
If any provision, term, or clause of this Agreement is declared illegal, unenforceable, or ineffective in a legal forum with competent jurisdiction to do so, this Agreement shall be deemed severable, and all other provisions, terms, and clauses of the Agreement will remain valid and binding on the Parties.
This agreement supersedes all prior understandings, representations, negotiations, and correspondence between the student and Loyola University Chicago, constitutes the entire agreement between the parties with respect to the matters described, and shall not be modified or affected by any course of dealing or course of performance. This agreement may be modified by Loyola University Chicago if the modification is signed by me. Any modification is specifically limited to those policies and/or terms addressed in the modification.