Undergraduate Loans
Cal Lutheran participates in multiple low-interest federal loan programs for students and their families. Eligibility for federal loans require a FAFSA to be completed each year. In addition to these direct federal loans to students, there are also private loans available for further financing.
Federal Direct Loan
No credit check
The Direct Loan is a federal loan awarded when you complete a FAFSA. The amount available depends on your grade level, and there may be an option to add an additional loan if your parents did not qualify for a Parent PLUS loan.
Parent PLUS Loan
Credit check required
This direct federal loan is made to the parents of dependent undergraduate students. The interest rate on the Direct Parent PLUS Loan is higher than the Direct Loan made to students, but typically lower than a private loan.
Alternative Loans
Credit check required
Alternative loans are offered by third-party, private lenders and have fixed or variable interest rates which depend on the borrower's credit, co-signer's credit, and the loan market.