Types of Loans
Loans are money you borrow that must be repaid with interest. Cal Lutheran participates in several federal low-interest loan programs for students and their families. Federal loans are need-based, as determined by your FAFSA.
The amount available for borrowing is typically determined by comparing Cost of Attendance (which is calculated by Cal Lutheran) against other forms of assistance (scholarships, grants and work study). The amount of the estimated Cost of Attendance which is not covered by financial aid, may be available for borrowing through federal loans.
Any portion of the Cost of Attendance not covered by scholarships, grants, work study and federal loans, may then be covered by Alternative/Private Loans.