Citations in the World Almanac (listed by cover date; color information is from the previous year): crimson/gold (1914-1931); maroon/gold (1934-1935)
It is not known when the Intercollegiate Bureau of Academic Costume (IBAC) assigned Loyola University Chicago a hood lining pattern, but in a 1927 list and a 1948 list the IBAC described the hood lining of the university as gold with a crimson (not maroon) chevron, which may suggest an IBAC assignment around 1914 if the Bureau used the World Almanac as a color reference.
In the late 1940s or 1950s the Intercollegiate Bureau corrected this error but also transposed the colors of Loyola’s hood lining, which was cited in a 1969 IBAC list as maroon with a gold chevron. A 1972 IBAC list reverted to the old shade of red, describing Loyola’s hood lining as crimson with a gold chevron.
Unfortunately, these were duplications of the hood linings the IBAC had already assigned to Calvin College (maroon with a gold chevron) and the University of Denver (crimson with a gold chevron), so here Loyola has retained its original Intercollegiate Bureau of Academic Costume hood lining arrangement, except that crimson has been corrected to maroon.
The family colors of St. Ignatius of Loyola were maroon and gold, so these were adopted as the school colors of Loyola University when the school was founded.