Loans for Graduate Students

Loans are money you borrow that must be repaid with interest. Along with scholarships, grants, and work study, they are a vital form of financial assistance that can offset your cost of attendance.



 

Did you know?

Cal Lutheran provides several financing options for graduate students, including a variety of low-interest federal loan programs. To be considered for federal loan eligibility, students must submit the FAFSAannually.

Beyond federal funding, students may also explore private loan opportunities to supplement their educational costs.

Loan Options for 2025-26

Loan Interest Rate Year Max* Lifetime Max Credit Check? Subsidized? Repayment Grace/Deferment Period Fee?**
Direct Unsubsidized Loan: A federal loan that is offered to students with eligibility as determined by the FAFSA. No credit check is required on these loans, but you may not be in default on any previous student loans to qualify. These loans are unsubsidized, and interest will begin accruing while you are in school. You may defer repayment for up to 6 months after leaving school. 7.94% $20,500 $138,500 No No 6 months  Yes
Direct Graduate PLUS Loan: A federal loan with credit check required. While the interest rate on the Direct Graduate Plus Loan is higher than the Direct Unsubsidized Loan, it is typically lower than a private student loan. Interest will begin accruing as soon as the first disbursement of funds is made, but repayment may be deferred for 6 months after you leave school. Note: Effective July 1, 2026, only students who previously utilized the Grad PLUS program will be eligible to receive utilize the program. 8.94% Up to COA None Yes No 6 months Yes
Private Student Loan: Offered by third-party, private lenders. A credit check is required and they are not based on financial need. Private student loans have fixed and variable interest rates which depend on the borrower and co-signer's credit and the loan market. We generally recommend that a student exhaust all federal loan opportunities before using private student loans. The amount you may borrow will be the amount that remains from your estimated Cost of Attendance after subtracting all other forms of financial aid you have accepted, such as scholarships, grants, work study and federal loans. Varies by lender Up to COA None Yes No None No
Loan Option for Dreamers

Dreamers Graduate Loan Program: Supports Dreamers with Deferred Action for Childhood Arrivals (DACA) or Temporary Protected Status (TPS) status who want to pursue professional degrees to achieve their career aspirations but do not have access to affordable financing options. This loan program provides loans to individuals with DACA and TPS status with interest rates based on the annual percentage rate (APR) available via the federal government’s Direct PLUS loan program. This is a private loan program, with Funding U as the loan originator and Launch LLC as the loan servicer.

Resources to learn more: Social Finance | Higher Ed Immigration Portal

*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. Alternative loan fees may vary.
***As of July 1, 2026, only students who previously utilized the Grad PLUS program will be eligible to receive utilize the program.

Required Loan Counseling

Loan counseling is a required means of helping you understand your rights and responsibilities regarding your loan.

How to Apply

As of July 1st, 2026 there are new loan limits for all federal federal loans. If this is your first time borrowing loans, be sure to review the loan limits when calculating your cost of attendance. 

Timeline

 

Creating an FSA Account

Steps involving StudentAid.gov will require a Department of Education FSA ID

How to create an FSA ID

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