Loans for Professionals 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 participates in multiple low-interest federal loan programs for Bachelor's Degree for Professionals students returning to school to complete their degree. 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.

Loan Options for 2024-25

Loan Interest Rate Year Max* Lifetime Max Credit Check? Subsidized? Repayment Grace Period Fee**
Direct 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. The Direct Loan 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. 6.533% Up to $7,500 (Seniors) $31,000 No Yes  6 months  Yes
Additional Direct Loan 6.533% Up to $5,000 (Seniors) $26,500 No 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. You should exhaust the federal loan opportunities before turning to private student 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.

Varies by lender 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.

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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