Loans for Undergraduate 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 students and their families. Eligibility for federal loans require a FAFSA to be completed each year.

In addition to Federal Direct Loans to students, there are also private student loans available for further financing.

Loan Options for 2025-26

Loan Borrower Interest Rate* Year Max** Lifetime Max Credit Check? Repayment Grace Period Fee?***

Direct Subsidized and Unsubsidized Loan: 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.

Student 6.39% Up to $7,500 (Seniors) $31,000 No 6 months  Yes
Additional Direct Unsubsidized Loan Student 6.39% Up to $5,000 (Seniors) $26,500 No 6 months Yes
Direct Parent PLUS Loan: Made available to the parents of dependent undergraduate students who complete a FAFSA. Effective July 1, 2026, Parent PLUS loans will be limited to $20,000 annually and $65,000 total per child. Parent 8.94% Cannot exceed COA None Yes 60 days Yes
Private Student Loan: 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. Student, Parent Varies by lender Up to COA None Yes None Yes

*Fixed interest rate; current percentage reflects 2025-26; changes 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.

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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