View the Comparison Table


The Direct Loan is a federal loan offered to students based on FAFSA determined financial-need. The maximum awarded per year depends on your grade level, with the option to add an additional loan amount.

No credit check is required for the Direct Loan, which typically carries the lowest interest rates available. Interest on the loan begins accruing as soon as the first of the funds are distributed to Cal Lutheran, but if you qualify for the subsidized version of the loan, the government will pay that interest while you're in school. You can decide to delay repayment of your loan until up to 6 months after leaving school.

Learn more about the Direct Loan


Alternative student loans are offered by third-party, private lenders. A credit check is required and they are not based on financial need. Alternative loans have fixed and variable interest rates which depend on the borrower and co-signer's credit and the loan market. You should exhaust the federal loan opportunities before turning to these Alternative loans.

The amount you may borrow will be the amount that remains from your estimated Cost of Attendance after subtracting other forms of financial aid you have accepted, such as scholarships, grants, work study and federal loans.

Learn more about Alternative/Private Loans

Professionals Loans 2023-24
Loan Interest Rate Year Max* Lifetime Max credit check? Subsidized? Repayment Grace Period Fee**
Direct Loan 5.50% Up to $7,500 (Seniors) $31,000 No Yes  6 months  Yes
Additional Direct Loan 5.50% Up to $5,000 (Seniors) $26,500 No No 6 months Yes
Alternative Loan Fixed and Variable Up to COA  None Yes No None Yes

*The total amount of financial aid, including loans, cannot exceed Cost of Attendance (COA). COA is set by Cal Lutheran and includes tuition, fees and a cost of living allowance.
**Fees are subtracted from the disbursed monies each term and are typically calculated as a % of the amount disbursed.