By Susan Guillory

(Last Updated – 05/2023)

Total Cost of Attendance

Loyola University Maryland is a private Jesuit institution located in Baltimore. It’s best known for its undergraduate business programs but boasts more than 40 undergraduate programs across three colleges. For the 2022-23 academic year, tuition and fees were $53,430, and in- and out-of-state students pay the same amount. However, students can expect to pay additional expenses, which are shown in the table below.

Costs for 2022-23

Financial Aid

Understanding how a university has distributed student loans and scholarships in the past can help students plan out the cost of attendance. Nearly all of Loyola students (99%) receive some type of financial aid award to help them pay for school, 98% of whom receive gift-based aid in the form of grants and scholarships. Pell Grants, which is a federal student loan program for students who demonstrate an exceptional financial need, were awarded to 19% of Loyola students.

Explore financial aid options: Maryland Student Loan & Scholarships.

Generally, financial aid is monetary assistance awarded to students based on personal need and merit. Students that qualify for financial aid can use it to pay for college costs like tuition, books, and living expenses.

The federal government is the largest provider of student financial aid. However, aid can also be given by state governments, colleges and universities, private companies, and nonprofits. The different types include:

•  Scholarships: These can be awarded by schools and other organizations based on students’ academic excellence, athletic achievement, community involvement, job experience, field of study, and financial need.

•  Grants: Generally based on financial need, these can come from federal, state, private, and non-profit organizations.

•  Work-study: This federal program provides qualifying students with part-time employment to earn money for expenses while in school.

•  Federal student loans: This is money borrowed directly from the U.S. Department of Education. It comes with fixed interest rates that are typically lower than private loans.

Colleges, universities, and state agencies use the Free Application for Federal Student Aid (FAFSA) to determine financial aid eligibility. The FAFSA can be completed online, but note that state and federal and school deadlines may differ.

You can find other financial aid opportunities on databases such as:

•  US Department of Education – Search for grants from colleges and universities by state

•  College Scholarship Service Profile (CSS) – A global college scholarship application used by select institutions to award financial aid

Recommended: The Differences Between Grants, Scholarships, and Loans

Private Student Loans

In addition to financial aid provided by the school, some Loyola students seek out private student loans as part of their financial aid package. According to the National Center for Education Statistics (NCES), 54% of Loyola students borrow student loans, 9% of which are from non-federal lenders, averaging $17,288 per student per academic year.

Private loans are funded by private organizations such as banks, online lenders, credit unions, some schools, and state-based or state-affiliated organizations. While Federal student loans have interest rates that are regulated by Congress, private lenders follow a different set of regulations so their qualifications and interest rates can vary widely.

What’s more, private loans have variable or fixed interest rates that may be higher than federal loan interest rates, which are always fixed. Private lenders may (but don’t always) require you to make payments on your loans while you are still in school, compared to federal student loans which you don’t have to start paying back until after you graduate, leave school, or change your enrollment status to less than half-time.

Private loans don’t have a specific application window and can be applied for on an as-needed basis. However, if you think you may need to take out a private loan, it’s a good idea to submit your FAFSA first to see what federal aid you may qualify for as it generally may have better rates and terms.

If you’ve missed the FAFSA deadline or you’re struggling to pay for school throughout the year, private loans can potentially help you make your payments. Just keep in mind that you will need enough lead time for your loan to process and for your lender to send money to your school.

Recommended: Guide to Private Student Loans

Projected 4-Year-Degree Price

The cost of attending any college varies year over year. At Loyola University, the net price for one academic year is $72,600, without merit or need-based financial aid. The projected cost for a four-year degree is $290,400. For comparison, the average cost of a four-year degree at a private nonprofit institution in 2022-23 is $157,600, according to the College Board.

This student loan and scholarship information may be valuable as you research schools and costs.

Undergraduate Tuition and Fees

Costs for 2022-23

Loyola University tuition and fees for the 2022-23 academic year were $53,430, regardless of state residency status. With on-campus room and board included, the total cost of attendance is $69,930. In comparison, the national average for a private, nonprofit university offering four-year degrees is $54,501 per year, based on information from the Education Data Initiative.

Graduate Tuition and Fees

Costs for 2022-23

For the 2022-23 year, the average Loyola University Maryland tuition for a graduate program was $18,900 — for a two-year program, the cost is about $37,800. This figure is lower than the national average cost of a master’s degree at a private institution, which was $62,100 in 2022.
Many students at Loyola opt for graduate loans to help cover these costs.

Cost per Credit Hour

At Loyola University Maryland, the tuition cost per credit hour is $585 for undergraduate courses in the 2023-24 academic year. Generally, a minimum of 120 credits is required to be eligible for an undergraduate degree, which means tuition alone can cost up to $70,200 to complete a four-year degree.

Campus Housing Expenses

Costs for 2022-23

*Based on studio/one-bedroom pricing. Average rate based on available apartments on Loyola’s off-campus housing website in 2023.

A majority of Loyola students live on-campus, with 80% residing in campus housing throughout all of their four-year program. Room and board for the 2022-23 school year cost $16,500.

Off-campus housing is also an option for Loyola students. The average rent in Baltimore for a one-bedroom apartment was $1,393 in July 2023, according to Rent.com. According to NCES, the average cost of room and board for off campus students during the 2022-23 school year was $9,940. That’s based on one-bedroom (or studio) pricing. Average rate based on available apartments on Loyola University Maryland off-campus housing website in 2023.

[Explore off-campus living options at Loyolas Off-Campus Housing.]

Loyola University Maryland Acceptance Rate

Fall 2023

Admission Requirements

Students who are interested in applying to Loyola University Maryland during the regular decision period must submit their application by the January 15 deadline ahead of the academic year they wish to attend (so January 15, 2024 to attend Loyola for the 2024-25 school year). To be an eligible applicant, first-year students must include certain requirements in their application.

Required:

•  High school GPA

•  High school transcripts

•  Letter of recommendation

•  Test of English as a Foreign Language, if needed

Recommended:

•  Secondary school rank

•  Completion of a college-preparatory program

SAT and ACT Scores

SAT and ACT scores are not required to apply to Loyola University Maryland. However, students may choose to submit their test score results to the university, if desired. Looking at the Loyola class of 2026, 65% of enrolled students applied test optional. The middle 50% of those who did submit scores had the following ranges:

Though there are no required test scores for admissions, here are the scores by subject at the 25th and 75th percentile:

Popular Majors at Loyola University Maryland

The institution is known for its business programs but offers more than 40 academic majors. Below are the top 10 majors at Loyola University Maryland, based on degrees conferred in the 2021-22 year.

1. Business Administration and Management

Loyola’s Business Administration program is a liberal arts-based curriculum that encourages students to master communication and critical thinking skills. Students can also choose an emphasis under the Sellinger School of Business and Management, like finance or accounting

Undergraduate degrees in 2021-22: 241

2. Communications

Students who are interested in learning about communications and media can explore Loyola University’s Communication program. It requires 13 courses, and students can concentrate in areas including journalism, television, radio, advertising, public relations, graphic design, digital audio and video, and web development.

Undergraduate degrees in 2021-22: 98

3. Psychology

Rounding out the top three majors at Loyola is psychology. Students can earn a Bachelor’s degree after completing courses on childhood development, multicultural psychology, and more. Additionally, students have the opportunity to do research alongside a faculty member.

Undergraduate degrees in 2021-22: 80

4. Speech-Language Pathology

Students who are interested in becoming speech-language pathologists or audiologists can look into Loyola’s undergraduate program in the speech, language, and hearing sciences. It combines academic coursework with some hands-on service-learning components in the field.

Undergraduate degrees in 2021-22: 60

5. Multi-/Interdisciplinary Studies

Students who want to study more than one subject have the option to choose interdisciplinary studies that allows them to explore multiple academic pathways. They can choose from 15 established interdisciplinary major pathways in areas including philosophy, biology, or mathematics, among others.

Undergraduate degrees in 2021-22: 45

6. Accounting

Like business administration, Loyola’s accounting program is a popular major among students. It’s accredited by the Association to Advance Collegiate Schools of Business (AACSB) and includes courses like taxation and cost accounting, while also allowing students to tailor their course loads to fit their professional goals like pursuing a CPAt track.

Undergraduate degrees in 2021-22: 42

7. Biology/Biological Sciences

Biology majors at Loyola University Maryland are required to complete a minimum of 10 courses in the biology department as well as classes in the chemistry, physics, and mathematical science departments.

Undergraduate degrees in 2021-22: 40

8. Political Science and Government

The school’s political science program includes 13 mandatory subject courses about government, public policy, and political theory. Students can also choose among a variety of specialties, like political parties and the legislative process.

Undergraduate degrees in 2021-22: 35

9. Engineering

Students studying to earn a Bachelor’s of Science in Engineering at Loyola University Maryland can choose from four concentrations: computer, electrical, materials, and mechanical engineering. There’s also a capstone requirement, which spans two semesters with students working with their peers on open-ended projects.

Undergraduate degrees in 2021-22: 31

10. Social Sciences

Social science majors are required to take 12 sociology-focused courses in the program. Examples include social research methods, self and society, and sociology theory.

Undergraduate degrees in 2021-22: 23

10. Certificates

Loyola University Maryland offers a wider range of certificate programs through the ASPIRE online extended learning community. Programs include topics like leadership, project management, and entrepreneurship. All classes take place online, and prices vary from $4,000 for a six-month leadership essentials program to $769 for a 44-hour-long program on nonprofit management.

Graduation Rate

Here are the graduation rates for Loyola University Maryland students pursuing Bachelor’s degrees who began school full-time in the fall of 2014:

•  4 years: 77%

•  6 years: 81%

•  8 years: 82%

Post-Graduation Median Earnings

The national average salary for a college graduate is about $55,260. Students who graduated from Loyola University and have been in the workforce for 10 years earned a median salary of $81,216 in 2020. This is notably higher than average.