California Baptist University Code: 00112500

Federal Loans

Federal Stafford loans are offered to undergraduate students at a low fixed interest rate. Students must be enrolled at least half time (6 units) to be eligible. Repayment begins six months after the student leaves school or drops below half-time status. Students must complete Entrance Counseling and a Master Promissory Note before they can receive their first disbursement (See section below).

The Federal Direct Loan Program offers the following types of loans:
    • Subsidized: for students who demonstrate financial need, as determined by federal regulations (FAFSA). No interest is charged while a student is in school at least half-time, during the grace period, and during deferment periods. The Subsidized loan MUST be accepted in full before accepting the Unsubsidized loan. 
    • Unsubsidized: not based on financial need; interest is charged during all periods, even during the time a student is in school and during grace and deferment periods. Student needs to have a FAFSA on file.
    • PLUS: Loans for the parents of dependent students. PLUS loans help pay for education expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods. To apply for the Parent PLUS loan, one parent needs to log in to complete the application process. The parent also needs to complete a Master Promissory Note on the same website.

Click Here for more information about Federal Direct Loans


Interest Rates

23/24 Award Year - Subsidized/Unsubsidized Loans - 5.50% Fixed  (Valid July 1, 2023 to June 30, 2024)        ______________________________________________

23/24 Award Year - Parent PLUS Loan - 8.05% Fixed (Valid July 1, 2023 to June 30, 2024)


Loan Fees
A loan fee (or origination fee) is an expense of borrowing a Federal Direct Loan (Sub/Unsub/PLUS). It is the percentage of the amount of each loan the borrower receives and is subtracted proportionately from each disbursement. Federal Direct Loan originated/disbursed on 10/01/2023 to 09/30/2024, the following loan fees will be applied:

Subsidized/Unsubsidized Loans  – 1.057% (10/01/2023 to 09/30/2024)


Example: $5,500 loan for the 2023/2024 school year:

FA23 Disbursement     $2,750 - 1.057%         = $2,721

SP24 Disbursement     $2,750 - 1.057%         = $2,721

Total Received                                             = $5,442


 Undergraduate Loan Limits

                                                                      Dependent Students*                   Independent Students

Freshman (0-29 units)                     $5,500 ($3,500 sub)                  $9,500 ($3,500 sub)

Sophomore (30-59 units)                $6,500 ($4,500 sub)                  $10,500 ($4,500 sub)

Junior (60-89 units)                          $7,500 ($5,500 sub)                  $12,500 ($5,500 sub)

Senior (90+ units)                             $7,500 ($5,500 sub)                  $12,500 ($5,500 sub)

Total                                             $31,000 ($23,000 sub)                $57,500 ($23,000 sub)

*Parent PLUS denials will allow an addition $4,000 of Unsubsidized loan (Freshman/Sophomore) and an additional $5,000 for Junior and Seniors - cannot exceed Independent aggregate limit.

Graduate Loan Limits
Graduate Total = $138,500

This includes undergraduate federal loans.

Entrance Counseling & Master Promissory Note
Both are required for first time loan borrowers
Entrance Counseling - Is an interactive session that shows your rights and responsibilities as a loan borrower
Click Here to complete
Click Here for more information
Master Promissory Note - Is a legal agreement between the borrow and lender to repay the loans
Click Here to complete
Click Here for more information
Exit Counseling
Exit counseling is required when you graduate, leave school, or drop below half-time enrollment. Exit counseling provides important information you need to prepare to repay your federal student loan(s)
Click Here to complete
Parent PLUS Loan
The Parent PLUS loan is available to parents of dependent students (as determined by the FAFSA).  It can be used to help pay for any remaining educational expenses.
23/24 Award Year Interest Rate - 8.05% Fixed ( Valid 07/01/2023 to 06/30/2024)
Current Loan Fees - 4.228% (Valid 10/01/2023 to 09/30/2024)
To be eligible for the Parent PLUS loan, the borrower:
    • Does not have adverse credit history, or
    • Has an adverse credit history but has obtained an endorser who does not have and adverse credit history and completes PLUS Loan Counseling offered by the Dept. of ED, or
    • Has an adverse credit history but documents to the satisfaction of the Dept. of ED that extenuation circumstances exist and completes PLUS Loan Counseling offered by the Dept. of ED.

Click Here to complete the PLUS Application or PLUS Counseling (parent's FSAID is needed to log in)

Click Here for more information

**23/24 PLUS Loans are available**

**24/25 PLUS Loans are coming soon**


Private/Alternative Loans

Private Educational Loans are available to students who do not qualify for Federal Loans but need additional aid. These loans are not need-based; rather, they are based on creditworthiness. Most students will need a creditworthy co-signer such as a parent or other relative to obtain a private education loan. Terms and conditions applicable to these loans vary greatly. Factors such as interest rate, APR, length or repayment, loan minimum and maximum, and fees should be carefully considered when researching and choosing a private educational loan. 

Click on the link to view a list of lenders.  ELM Select               


** 23/24 Private Loans are available**

**24/25 Private Loans are Now Available**




Loan FAQs
What is the difference between a subsidized Stafford and an unsubsidized Stafford loan?
The federal government pays the interest on a subsidized loan for you while you are in school. However, the interest on an unsubsidized loan will accrue while you are in school. 

Do I have to pay the interest on an unsubsidized Stafford loan while I am in school?

No, you do not have to pay any interest while you are in school. However, you may choose to make payments in an effort to keep the interest down. When you leave school, the accrued interest on the unsubsidized loans will be capitalized (added to the principal). You will then pay interest on the interest that has been capitalized.


Why didn’t I receive a subsidized Stafford loan?

Your eligibility for a subsidized Stafford loan is determined by the results of the FAFSA. The calculation also includes any other grants or scholarships that you may receive.


Why don't I see my loans posted to my account on my expected disbursement date?

The Department of Education authorizes loan delivery approximately two business days after the expected loan disbursement. If you are a first time borrower, please insure you have completed a MPN and Entrance Counseling with Loans are certified once all documents have been received and reviewed. 


How soon can I expect a refund?

If your loans create a credit balance, contact Student Accounts to see when they send out refund checks.