D2 got accepted to Loyola and we all love it. Sadly, she may have to go somewhere else. Our EFC is 17K, but net price is 42K due to our home equity, I think. Her 16K merit scholarship does not help much. We love Loyola and think it fits our D, except the cost. I found old post, and comments about how badly home equity hurts financial aid at LUM. I hope to learn more from other parents about this topics.
http://talk.collegeconfidential.com/discussion/comment/12187503#Comment_12187503
http://www.thecollegesolution.com/will-your-home-equity-hurt-financial-aid-chances/
Financial aid letter arrived, matching the number from Net Price Calculator, and thus confirmed my suspicion that Loyola hits home equity hard. D loves Loyola, but can’t attend because it is the most expensive school in her list. Luckily she has other fine options. From US News, Loyola meets 91% of financial needs of students, fairly generous unless families have sizable home equity. Lesson for future applicants: Always check Net Price Calculator before applying.
To close out this thread, D is now a thriving freshman at Dickinson College. The college that you in love at first sight might not be a good fit. Loyola is still a beautiful, great schools.