Student Loans

Graduate Students

Investing in a graduate degree is a powerful step towards your professional goals.

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

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

Upcoming Changes to Loans

The One Big Beautiful Bill Act (OBBBA) makes significant changes to federal student loan limits.

What is changing?

To receive the full loan amounts for 2026-2027, students must be enrolled full-time. If a student is enrolled less than full-time (6 credits), there will be a scheduled reduction of their loan amount.
Graduate students taking out a loan on or after July 1, 2026 will only be eligible for two repayment plans:
- Tiered Standard Repayment: Fixed monthly payments, repayment term lengths range from 10 to 25 years (depending on the amount borrowed)
- Repayment Assistance Plan (RAP): Monthly payments based on income, loan forgiveness after 30 years of repayment, qualifies for Public Service Loan Forgiveness
While the annual limit for Federal Direct Unsubsidized Loans stays at $20,500 ($50,000 for those pursuing a Professional degree), there are new aggregate (total) limits to keep in mind for your long-term financial planning. Under new regulations, graduate students now have a total borrowing cap of $100,000 for their specific degree program and professional students have a total borrowing cap of $200,000. Additionally, a new lifetime limit of $257,500 has been established for all Federal Direct student loans combined across all levels of study (this total does not include Graduate or Parent PLUS loans).

Who is considered a Professional Student? : Students enrolled in the following programs are considered professional students for purposes of federal student loan limits: Pharmacy, Dentistry, Veterinary Medicine, Chiropractic, Law, Medicine, Optometry, Osteopathic Medicine, Podiatry, Theology and Clinical Psychology.

Starting July 1, 2026, the Graduate PLUS loan program will be eliminated unless students qualify for a limited exception.
Students who qualify for the limited exception can continue to borrow Graduate PLUS loans, and are also exempt from the new Direct Unsubsidized aggregate and lifetime limits.Students who qualify for the limited exception may continue to borrow Graduate PLUS loans for up to three years as long as they meet the limited exceptions criteria.

Who qualifies for limited exception?

Students who remain continuously enrolled in the same program of study at the same institution as they were enrolled as of June 30, 2026, AND
Had a Direct Unsubsidized or Graduate PLUS Loan disbursed for that same program of study before July 1, 2026.

Find out if you qualify for a limited exception:

Loan Options

Loan	Interest Rate	Year Max*	Lifetime Max	Credit Check?	Subsidized?	Repayment Grace/Deferment Period	Fee**
Federal Direct Unsubsidized Loan	7.94%	$20,500/ $50,000	Varies	No	No	6 months	1.057%
Federal Direct Graduate PLUS Loan***	8.94%	Varies	Varies	Yes	No	6 months	4.228%
Private Student Loan	Varies by lender	Up to COA	None	Yes	No	Varies by lender	No
Dreamers Graduate Loan Program	See details	See details	See details	See details	See details	See details	See details

*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.
**Federal origination fees are subtracted from the disbursed monies each term and are typically calculated as a % of the amount disbursed.
***As of July 1, 2026, only students who previously utilized the Grad PLUS program will be eligible to utilize GRAD Plus loans.

Información en Español

Federal Direct Unsubsidized Loan

Overview

Federal Direct Unsubsidized Loans are fixed-rate federal student loans available to graduate students who apply for the FAFSA. These loans are unsubsidized, meaning interest begins accruing while you are in school. However, the rates are fixed and do not require a credit check. Students may choose to pay the interest while enrolled or allow it to be added to the loan balance at repayment. Repayment may be deferred for up to six months after leaving school or dropping below half-time.

To be eligible, students must:

Complete a FAFSA for the applicable aid year
Be enrolled at least half time (minimum of 3 credits per semester) in an eligible master’s or doctoral program
- Starting in the 2026-2027 academic year, students must be enrolled full-time (6 credits per semester) in order to receive full loan amounts. If a student is enrolled in less than 6-credits, there will be a scheduled reduction of their loan amount
Be a U.S. citizen or eligible non-citizen
Maintain Satisfactory Academic Progress as defined by the university
Submit all required financial aid documentation and not be in default on any previous student loans

Key Information

Students pursuing only a Teaching Credential are considered fifth-year undergraduate students and follow the loan limits and credit requirements for third-year and beyond undergraduates. For more information, please visit Undergraduate Loans.

Loan Repayment

Repayment on Direct Loans begins six months after a student graduates, withdraws, leaves school, or drops below half-time status.

ACADEMIC YEAR	FIRST DISBURSEMENT	LOAN TYPE	INTEREST RATE
2026-27	On or after July 1, 2026 and before July 1, 2027	Graduate Direct Loan Unsubsidized	TBD
2025-26	On or after July 1, 2025 and before July 1, 2026	Graduate Direct Loan Unsubsidized	7.94%

View Loan Repayment Simulator

Loan Limits

Federal Direct Unsubsidized Loan limits are determined based on graduate program. Graduate and Doctoral students are eligible to take out up to $20,500 per year and Professional students are eligible to take out up to $50,000 in Direct Unsubsidized Loans.

Students enrolling mid-year in an academic program, may be eligible to receive the full amount of Direct Unsubsidized Loan funds up to the annual loan limits as specified by the Department of Education. Once our office receives your FAFSA, we will be able to determine your Direct Unsubsidized Loan eligibility.

Please Note: this may result in receipt of loan funds at a higher amount in a single term due to a mid-year start date. If you later intend to enroll for all terms in an academic year, your loan funds will be equally distributed over the terms you are enrolled in. If you have questions about how this will impact any future awards, please contact the Office of Financial Aid.

Students who borrow Direct Loans also have aggregate and lifetime loan limits. This means that there is a maximum a student may take out in Direct Loans for his or her program and educational career. For Graduate and Doctoral students, the aggregate limit is capped at $100,000 and for Professional students, the aggregate limit is capped at $200,000. For all student pursuing a Graduate or Professional degree, the lifetime borrowing limit on all federal student loans, excluding Parent PLUS and Graduate PLUS loans is capped at $257,000.

Students can check the amount of loans they have taken out during their academic careers at studentaid.gov.

Origination Fees

All Direct Unsubsidized Loans are subject federal origination fees which are subtracted from the loan at the time of disbursement.

First Disbursement	Loan Fee	Fee on a Loan Amount Of
On or after October 1, 2020 and before October 1, 2026	1.057%	$105.70 on a $10,000 loan

How to Apply

As of July 1, 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.

All application steps must be completed at least 30 business days prior to the start of a term which the student wishes to receive aid for. This includes the following:

Step 1: Filing a FAFSA

Step 2: Complete Any Missing Document Requests

Step 3: Accept Your Loans

Once your loan eligibility for the aid year has been determined, you will need to manually accept your loans through your myCLU Self-Service Financial Aid portal. Accepting the loan through the portal, will allow you to accept the full amounts of your loan eligibility for the academic year. If you are looking to accept less that the full amount, please submit a Loan Change Request Form to indicate how much of the loan you are wishing to accept for the semester/aid year.

Step 4: Complete Necessary Loan Items

All loans require processing time before the funds will be ready to disburse. Students may receive loan funds for a term only if they are currently enrolled in that term at least half time and loan funds disburse prior to end of that term. If completion of required steps occurs after the 10 business days prior to the end of the term, the Office of Financial Aid cannot guarantee that loan(s) will be processed before the end of the eligible timeframe.

Loan Disclosure

Please note that the borrower has the right to cancel a portion of or the entirety of their loan within 14 days of either the first day of class or the disbursement of the funds to the student’s account, whichever is later. After which time it is the borrower’s responsibility to return any unwanted funds to the lender or federal loan servicer. To request a cancellation, please complete and submit a Loan Change Request Form within the appropriate timeframe.

Creating an FSA Account

Steps involving StudentAid.gov will require a Department of Education FSA ID. Learn how to create an FSA ID

Required: Loan Counseling

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

Entrance Counseling

Entrance counseling must be completed before the first disbursement of a loan. If you do not complete your Loan Entrance Counseling, your loan will not be able to be processed.

You can complete loan entrance counseling online at the StudentAid.gov website.

Exit Counseling

Exit counseling must be completed before graduation or dropping below half-time enrollment.

You may complete your exit counseling online at the StudentAid.gov website. You will need your Social Security number, FSA ID, and the name and addresses of your nearest relative and two personal references to complete the session. When you have finished your exit counseling, remember to print your completion certificate.

If you need to get a Separation Form signed for Financial Aid, bring your completion certificate into the Financial Aid Office and our Front Desk representative will be able to sign off.

Back to all loan options

Federal Direct Graduate PLUS Loan

Overview

Effective July 1, 2026, only graduate students who have previously participated in the Federal Direct Graduate PLUS Loan program will be eligible to receive a Graduate PLUS Loan.

The Federal Direct Graduate PLUS Loan is a federal loan option for eligible graduate students enrolled at least half time (minimum of 3 units per semester). A credit check is required. While the interest rate is higher than that of the Federal Direct Unsubsidized Loan, it is typically lower than most private student loans. Students may generally borrow up to the Cost of Attendance minus any other financial aid received. Interest begins accruing upon the first disbursement of funds, and repayment may be deferred for up to six months after leaving school.

Key Information

Credit Check Requirement for Grad PLUS Loans

Graduate PLUS Loan Repayment

Interest begins to accrue after the first disbursement, and repayment of principal and interest begins 6 months after a student graduates, leaves school, or drops below half-time enrollment.

ACADEMIC YEAR	FIRST DISBURSEMENT	LOAN TYPE	INTEREST RATE
2026-27	On or after July 1, 2026 and before July 1, 2027	Graduate PLUS Loan	TBD
2025-26	On or after July 1, 2025 and before July 1, 2026	Graduate PLUS Loan	8.94%

VIEW REPAYMENT ESTIMATOR

Origination Fee

All Direct PLUS Loans are subject to federal origination fees which are subtracted from the loan at the time of disbursement.

First Disbursement	Loan Fee	Fee on a Loan Amount Of
On or after October 1, 2020 and before October 1, 2026	4.228%	$422.80 on a $10,000 loan

Annual Loan Limit

Loan Amount Changes & Adjustments

How to Apply

Students are advised to exhaust their Federal Direct Unsubsidized Loan eligibility before applying for a Federal Direct Graduate PLUS Loan, as this loan requires a credit check and has a higher interest rate than the Federal Direct Unsubsidized Loan interest rate.

Please Note: If you have not applied for a GRAD PLUS Loan prior to July 1st, 2026, you are not eligible to utilize this program. If you have already taken out a Federal Direct Graduate PLUS loan prior to July 1, 2026, you may continue borrowing for up to three (3) academic years (or until your program ends, whichever is less).

Step 1: Complete a FAFSA/Grad PLUS Loan Application

Post-Step 1: If you receive a denied credit decision

Option 1: Add a credit-worthy endorser

Find a credit worthy endorser and provide them with your PLUS loan reference number
The endorser must request an FSA ID with the Department of Education. They will then use that FSA ID to sign into www.Studentaid.gov
Have the endorser complete an endorser addendum
Complete a new PLUS MPN to include your endorser

Option 2: Appeal the credit decision

Submit an appeal due to extentuating circumstances or incorrect information
You must include a statement along with documentation to support your claim. Visit https://studentaid.gov/appeal-credit/demo to get started,
The Department of Education will notify you of their final decision
If approved, our office will be notified

Additional Requirement

You or your endorser must complete online Plus Credit Counseling
This will need to be completed before your loan can disburse. Please note this counseling must be completed in one sitting as there is no ‘save progress’ function.
For questions about whether you need to complete this counseling or not please contact the Student Loan Support Center at 800-557-7394.

Step 2: Complete Necessary Loan Items

Step 3: Accept Federal Direct Graduate PLUS Loan Through MyCLU

Once completed, you will receive an email (via your Cal Lutheran/PLTS email) from the Office of Financial Aid showing that your Federal Direct Graduate Plus loan has been added to your financial aid package. You will then need to review the amount and accept the loan(s) through your Financial Aid Self-Service portal. If you would like to make an adjustment to the amount please contact the office for further guidance.

Loan Disclosure

Creating an FSA Account

Steps involving StudentAid.gov will require a Department of Education FSA ID. Learn how to create an FSA ID

Required: Loan Counseling

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

Entrance Counseling

Entrance counseling must be completed before the first disbursement of a loan. If you do not complete your Loan Entrance Counseling, your loan will not be able to be processed.

You can complete loan entrance counseling online at the StudentAid.gov website.

Exit Counseling

Exit counseling must be completed before graduation or dropping below half-time enrollment.

If you need to get a Separation Form signed for Financial Aid, bring your completion certificate into the Financial Aid Office and our Front Desk representative will be able to sign off.

PLUS Loan Credit Counseling

PLUS Loan Credit Counseling is required of a Federal Direct Graduate PLUS or Federal Direct Parent PLUS borrower if the U.S. Department of Education has informed you that you have an adverse credit history and you have:

Obtained an approved endorser or
Documented to the satisfaction of the U.S. Department of Education that there are extenuating circumstances related to your adverse credit history.

Visit StudentAid.gov to complete PLUS Loan Credit Counseling.

Note: PLUS Loan Credit Counseling is NOT required for borrowers with an approved credit check or for borrowers who are not using an endorser.

Back to all loan options

Private Student Loan

Overview

Private student loans (also referred to as education or alternative loans) are offered and serviced by third-party lenders to help bridge the gap between college costs and traditional financial aid. These loans may be used to cover current-term expenses, past-due balances from a prior term or academic year, and costs for students enrolled less than half time. A credit check is required, and eligibility is based on the borrower’s and/or co-signer’s credit rather than financial need. Interest rates vary by lender and market conditions. Private student loans may not exceed the Cost of Attendance minus other accepted financial aid, including scholarships, grants, work-study, and federal loans.

California Lutheran University will certify private student loans only for students who are meeting Satisfactory Academic Progress (SAP), and students are generally encouraged to exhaust all federal loan options before borrowing private loans.

Federal vs. Private Loans

If you are deciding between a federal student loan and a private student loan, carefully compare the pros and cons of each.

Completing the FAFSA may make you eligible for federal loans or other Title IV aid, which often offer more favorable terms than private student loans. In general, students should use their federal loan options before considering private student loans.

For guidance, review this comparison diagram from Federal Student Aid to help determine which loan type best fits your needs.

Key Information

Processing Timeline

Loan Application: You select a lender, apply for the loan, and the lender makes a credit decision.
Cal Lutheran Private Loan Request Form: You complete & submit the required electronic Private Loan Request Form to the Cal Lutheran Financial Aid Office.
School Certification: The school confirms your cost of attendance, other financial aid, and approved loan amount.
Final Disclosure: The lender issues a final disclosure, which includes a three business day right to cancel.
Disbursement: Funds are typically sent directly to Cal Lutheran about 10 days after certification and applied to your student account.

How to Apply

Step 1: Select a Loan Lender

Eligibility for a private student loan is based on the student's and co-signer's (if required) credit history. Most loan lenders allow students to determine if they would like to have a fixed or variable interest rate and when their repayment will begin.

Lender Search Tool

Cal Lutheran is an impartial party and cannot recommend any particular lender. However, through careful consideration of many factors, including borrower benefits, Cal Lutheran provides a Lender Search Tool containing a list of lenders that are currently participating in private student loan lending. Students are in no way restricted to this list of lenders when borrowing a private student loan. Lenders within the tool are displayed in random order.
Use our lender search tool to compare the following details across various lenders:

Interest rates
Fees and default or late payment costs
Repayment terms
Cost estimates
Eligibility

UNDERGRADUATE

PROFESSIONALS

GRADUATE

Step 2: Apply for a Loan From Your Chosen Lender

Once you have determined which lender you want to borrow a private student loan from, the next step is to complete a loan application with that lender.

Most private student loan lenders have an online application you may use to apply.

Only complete the Self-Certification Form if prompted to do so by your lender. Most lenders have this form already built-in to their online loan application.

Self- Certification Form Information

The Title X of the Higher Education Opportunity Act (HEOA) requires that a series of three loan disclosures be provided to Alternative Loan borrowers throughout the application process and that the borrower also complete an Alternative Loan Self-Certification Form prior to the loan being disbursed.

If prompted by your lender, download the Alternative Loan Self-Certification Form.

The purpose of the disclosures is to:

Present the terms/cost of the loan in a clear and consistent manner.
Allow for comparison shopping and re-evaluation of borrowing an alternative loan during the application process.
Present lower cost federal options that should be exhausted prior to considering an alternative loan.
Reduce overall borrower indebtedness.

The student is required to complete the Alternative Loan Self-Certification Form and return it to the Loan Lender. The Loan Lender will not disburse any loan funds until the student’s completed form has been received.

Below are instructions on how to obtain information that is required to complete the Alternative Loan Self-Certification Form.

Cost of Attendance & Estimated Financial Assistance (Section 2 of the form)

Part A: Cost of Attendance (COA)

For Traditional Undergraduate students, please refer to Undergraduate Estimated Cost of Attendance for specific amounts.
For Professionals or Graduate students, the COA is variable based on the number of units the student is registered in per term and the number of terms he or she attends CLU in an academic year. Contact the Financial Aid Office to find out more about specific COAs.

Part B: Estimated Financial Assistance (EFA)

Please follow these steps to determine your EFA:

Accept or Reject Financial Aid through your MyCLU Self-Service portal.
Add together all accepted aid (in scholarships, grants, Federal Work Study, Federal Stafford Loans, and Parent PLUS Loan) for the academic year.
Use the total amount as your Estimated Financial Aid (EFA) amount. Your EFA should not include the current Alternative Loan that you are applying for.

Part C: Difference Between COA and EFA

The difference between the Cost of Attendance and Estimated Financial Assistance is the maximum amount of Alternative Loan that a student is eligible to apply for.

Step 3: Submit a Cal Lutheran Private Loan Request Form

Once you know the loan amount you are approved for by your lender, the final step is to complete the online Cal Lutheran Private Loan Request Form. Please allow 2-4 weeks for the loan to be certified by the Financial Aid Office.

The Private Loan Request Form is required for Cal Lutheran to certify your loan application.

Select the appropriate academic year:

2025-2026 Private Loan Request Form
- This includes Fall 2025, Spring 2026 and Summer 2026
2026-2027 Private Loan Request Form
- This includes Fall 2026, Spring 2027 and Summer 2027

Application Timeline

In order to ensuer your Private Loan is fully processed by the time fees are due, you want to make sure all application steps (both for your private loan lender and Cal Lutheran) are completed atleast 30 business days prior to the start of the term. This includes:

Loan approval through your choosen lender
Cal Lutheran Private Loan Request Form

Back to all loan options

Dreamers Graduate Loan Program

Overview

The Dreamers Graduate Loan Program supports Dreamers with Deferred Action for Childhood Arrivals (DACA) or Temporary Protected Status (TPS) status who want to pursue graduate or 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

Back to all loan options

Financial Aid