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.
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.
Private Student Loans
Credit check required
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.