The Redbirds improved to 21-11 and meets No. 1 Northern Iowa for the championship at 4 p.m. Saturday. The Panthers (24-9) beat Valparaiso in four sets in the other semifinal.
ISU and UNI split their two regular-season matches, each winning on their home court.
Sarah Kushner added 11 kills and Sydney Holt had 10 for the Redbirds. Kendal Meier led the defense with 21 digs. It was the third victory over Loyola (21-11) this season for ISU.
Men's basketball falls: Charles Bohannon scored 18 points as New Orleans downed the Eureka College men's basketball team, 125-60, at New Orleans.