I agree with the result ...take the goal away and give ball to Loyola.
I think you meant to say "GBS" (not Loyola) "goalie was not allowed 5
seconds"
The rule that was "mis-applied" that started the controversy I believe
was: 2009 NFHS Boys Lacrosse Rule 4.25.3 "The goalkeeper shall be
given a maximum of five seconds to re-enter the crease on any
restart."
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I agree the way to correct the error is spelled out in Rule 7.13.1
"Correction of Errors" blah, blah....."prior to next live ball"
there is no wording with respect to a goal scored, etc. To me the
correction is to award the ball to Loyola at the spot where the ball
was when the original "play-on" was blown dead (outside the box of
course).
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I believe NCAA Rule 7.12 is consistent with NFHS " ....If goals are
scored during the mistake made by the timekeeper, scorer or official
and it is brought to the attention of the referee before the next live
ball, the referee must allow or disallow the goal, depending on the
circumstances."
...Craig