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 Student Loan

No credit check

Federal Direct Student Loans are made available 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.

Learn more

Parent PLUS Loan

Credit check required

The Federal Direct Parent PLUS loan is made available to the parents of dependent undergraduate students who complete a FAFSA. The interest rate on Parent PLUS Loans is higher than that of Direct Student Loans, but typically lower than a private loan.

Learn more

Alternative Loans

Credit check required

Alternative (private) student 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. 

Learn more

Compare Undergraduate Loans

Loan Borrower Interest Rate* Year Max** Lifetime Max Credit Check? Repayment Grace Period Fee?***
Direct Subsidized and Unsubsidized Loan Student 6.533% Up to $7,500 (Seniors) $31,000 No 6 months  Yes
Additional Direct Unsubsidized Loan Student 6.533% Up to $5,000 (Seniors) $26,500 No 6 months Yes
Direct Parent PLUS Loan Parent 9.083% Cannot exceed COA None Yes 60 days Yes
Alternative Loan Student, Parent Varies by lender Up to COA None Yes None Yes

*Fixed interest rate; current percentage reflects 2024-2025; changes July 1st each year
**The total amount of financial aid, including loans, cannot exceed Cost of Attendance (COA), as determined by Cal Lutheran each year.
***Fees are subtracted from the disbursed monies each term and are typically calculated as a % of the amount disbursed.