Graduate Loan Proration: Schedule of Reductions Examples
Currently, graduate students are considered full-time at 9 credit hours per term during the Fall and Spring semesters, and 6 credit hours in the Summer term. The following are a few examples which show how graduate student federal loan eligibility may change based on number of credits enrolled.
Graduate programs differ in whether Summer enrollment is required as part of the program of study. For federal loan purposes, the academic year is based on 18 credits for programs where Summer enrollment is optional or not required and 24 credits for programs that require Summer enrollment. The examples below are organized by these two enrollment structures.
Programs Where Summer Enrollment Is Not Required
Example 1: Full-Time Enrollment in Fall and Spring 9 Fall Credits + 9 Spring Credits
If you enroll in 9 credits in Fall and 9 credits in Spring, you are enrolled in a total of 18 credits out of 18 full-time credits for the academic year, or 100% of full-time enrollment.
If the annual loan limit is $20,500, you may qualify for up to $20,500:
- Fall = $10,250
- Spring = $10,250
Example 2: Less Than Full-Time Enrollment in Fall and Spring 6 Fall Credits + 6 Spring Credits
If you enroll in 6 credits in Fall and 6 credits in Spring, you are enrolled in a total of 12 credits out of 18 full-time credits for the academic year, or approximately 67% of full-time enrollment. Your loan eligibility will be reduced proportionally.
If the annual loan limit is $20,500, you may qualify for approximately $13,735:
- Fall = $6,868
- Spring = $6,867
Example 3: Full-Time Enrollment in Fall and Less Than Full-Time Enrollment in Spring 9 Fall Credits + 6 Spring Credits
If you enroll in 9 credits in Fall and 6 credits in Spring, you are enrolled in a total of 15 credits out of 18 full-time credits for the academic year, or approximately 83% of full-time enrollment. Your loan eligibility will be reduced proportionally.
If the annual loan limit is $20,500, you may qualify for approximately $17,015:
- Fall = $10,209
- Spring = $6,806
Example 4: Half-Time Enrollment in One Term (Fall or Spring) 6 Credits in One Term Only (Single-Term Loan)
If you enroll in 6 credits in either Fall or Spring and are only seeking loans for that one term, you are enrolled in 6 credits out of 9 full-time credits for the term, or approximately 67% of full-time enrollment. Because you are only attending one term, your loan limit will first be reduced to half of the annual loan limit. Your loan eligibility will then be reduced proportionally based on your enrollment.
If half of the annual loan limit is $10,250, you may qualify for approximately $6,868 for that term.
Programs Requiring Summer Enrollment
For purposes of the Schedule of Reductions, Summer enrollment is required for the following graduate programs: CPC, ELMBA, PsyD, and Speech-Language Pathology (SPEECH).
Example 1: Full-Time Enrollment in Summer, Fall, and Spring 6 Summer Credits + 9 Fall Credits + 9 Spring Credits
If you enroll in 6 credits in Summer, 9 credits in Fall, and 9 credits in Spring, you are enrolled in a total of 24 credits out of 24 full-time credits for the academic year, or 100% of full-time enrollment.
If the annual loan limit is $20,500, you may qualify for up to $20,500:
- Summer = $6,834
- Fall = $6,833
- Spring = $6,833
Example 2: Less Than Full-Time Enrollment in Summer, Fall, and Spring 3 Summer Credits + 6 Fall Credits + 6 Spring Credits
If you enroll in 3 credits in Summer, 6 credits in Fall, and 6 credits in Spring, you are enrolled in a total of 15 credits out of 24 full-time credits for the academic year, or approximately 63% of full-time enrollment. Your loan eligibility will be reduced proportionally.
If the annual loan limit is $20,500, you may qualify for approximately $12,915:
- Summer = $2,583
- Fall = $5,166
- Spring = $5,166
Example 3: Less Than Full-Time Enrollment in Summer, Fall, and Spring 6 Summer Credits + 6 Fall Credits + 6 Spring Credits
If you enroll in 6 credits in Summer, 6 credits in Fall, and 6 credits in Spring, you are enrolled in a total of 18 credits out of 24 full-time credits for the academic year, or 75% of full-time enrollment. Your loan eligibility will be reduced proportionally.
If the annual loan limit is $20,500, you may qualify for approximately $15,375:
- Summer = $5,125
- Fall = $5,125
- Spring = $5,125
Example 4: Half-Time Enrollment in One Term (Fall or Spring) 6 Credits in One Term Only (Single-Term Loan)
If you enroll in 6 credits in either Fall or Spring and are only seeking loans for that one term, you are enrolled in 6 credits out of 9 full-time credits for the term, or approximately 67% of full-time enrollment. Because you are only attending one term, your loan limit will first be reduced to half of the annual loan limit. Your loan eligibility will then be reduced proportionally based on your enrollment.
If half of the annual loan limit is $10,250, you may qualify for approximately $6,868 for that term.
Enrollment Changes and Loan Eligibility
Federal student loan eligibility is based on your enrollment status during the academic year. If your enrollment changes (for example, by adding, dropping or withdrawing credits), your eligibility may be adjusted to reflect your updated enrollment level.
If a change occurs during a term after a disbursement has already been made, any resulting adjustment may be applied to a future term. If you add a course and would like Financial Aid to review your eligibility, please email our office with your request.
Terms in which a student is enrolled less than half-time will only be included in the Scheduled of Reductions if the term has ended.
Graduate Financial Aid may determine whether loans are split evenly across terms or adjusted based on enrollment (proportional distribution) when a loan proration is required. If no proration is required and the student is enrolled full-time, loans are split evenly across terms.
Students may choose to borrow less than their maximum eligible loan amount; however, they cannot receive more than their calculated eligibility.
Graduate PLUS Loans and the Schedule of Reductions
Graduate PLUS Loans are also subject to the Schedule of Reductions. Eligibility is calculated using the same enrollment-based reductions outlined above. However, the maximum Graduate PLUS Loan amount is determined by subtracting all other financial assistance from the student's Cost of Attendance (COA).
Questions?
If you have questions about the Schedule of Reductions or how your loan eligibility was calculated, please contact the Graduate Financial Aid office at gradfinancialaid@loyola.edu.
Notes
Actual loan amounts may vary based on individual eligibility, program structure, and timing of disbursements. The information provided is based on current federal regulations and institutional policy and may be revised as regulatory guidance, federal requirements, or university policies change.
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Last Updated: October 30, 2026