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California Student Loans: Pay for School in California

There are several options to pay for school in California, including scholarships, grants, and student loans.

Lindsay VanSomeren Lindsay VanSomeren Updated May 12, 2021

Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. NMLS # 1681276, is referred to here as "Credible."

While the average cost of attendance at California schools is slightly less compared to the national average, you might still need the help of scholarships, grants, or California student loans to cover all of your costs.

If you plan to attend the University of California Los Angeles, Santa Ana College, or any of California’s other schools, here’s what you can expect to pay according to EducationData.org compared to the national average cost of college for the U.S. as a whole:

cost of college in California

Here are three ways to pay for school in California:

  1. Start with scholarships and grants for California students
  2. Apply for federal student loans
  3. Use private student loans to fill in the gaps

1. Start with scholarships and grants for California students

College scholarships and grants are a good place to start when it comes to paying for school — mainly because they don’t need to be paid back, unlike student loans. Plus, there are plenty of scholarships and grants available specifically for California students.

Here are a few options to consider:

  • Cal Grants are available to students who have lived in California for at least one year and who are attending a University of California, California State University, California Community College, or another qualifying California school. These grants can be worth up to $14,226, depending on the type of school you attend.
  • California Teachers Association (CTA) Scholarships range from $3,000 to $5,000 and are available to CTA members and their dependent children as well as to student Student CTA members.
  • eQuality Scholarships are worth $6,000 and are available to students in northern or central California who have demonstrated service to the LGBTQ+ community.
  • Pine Cone Foundation (PCF) Scholarships are geared toward California students with learning disabilities who are attending community college. These scholarships are worth up to $3,500 over three years.
Tip: Be sure to fill out the Free Application for Federal Student Aid (FAFSA) to see if you qualify for any federal grants, such as the Pell Grant.

Some colleges and universities also offer school-specific grants and scholarships, which are generally awarded based on your FAFSA results. Some state-based grants, such as Cal Grants, use FAFSA results as part of their application process, too.

If scholarships and grants don’t fully cover your college costs, you could also consider using federal or private student loans to cover your other expenses. Just be sure to think about how much a student loan will cost you in the future before you decide to borrow.

You can find out how much you’ll owe over the life of your federal or private student loans using our student loan calculator below.

Enter your loan information to calculate how much you could pay

? Enter the total amount borrowed $
? Enter your annual interest rate %
or
? Enter the amount of time you have to repay your loan years
Total Payment $
Total Interest $
Monthly Payment $

With a $ loan, you will pay $ monthly and a total of $ in interest over the life of your loan. You will pay a total of $ over the life of the loan, assuming you're making full payments while in school.


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2. Apply for federal student loans

If you’ve pursued scholarships and grants but still need to borrow money for school, federal student loans are generally a good place to start.

This is mainly because these loans come with federal benefits and protections, such as access to income-driven repayment and student loan forgiveness programs.

Tip: To apply for federal student loans, you’ll need to submit the FAFSA. Your school will use your results to determine what federal student loans and other financial aid you’re eligible for.

There are the types of federal loans you might qualify for as a California student:

  • Direct Subsidized Loans are available to undergraduate students with financial need. The interest on these loans is paid for by the government while you’re in school, meaning you’ll have less to repay later.
  • Direct Unsubsidized Loans are available to both undergraduate, graduate, and professional students, regardless of financial need. Unlike subsidized loans, interest continues to accrue on unsubsidized loans while you’re in school.
  • Direct PLUS Loans come in two types: Grad PLUS Loans for students who want to pay for grad school and Parent PLUS Loans for parents who want to cover their child’s education. Keep in mind that the interest rates on PLUS Loans are typically higher than on subsidized and unsubsidized loans. They also require a credit check.
Loan typeWho qualifies?
Interest rates
(2022-23)
Loan limits
Direct Subsidized LoansUndergrad students with financial need4.99*$3,500 to $5,500 per year
Direct Unsubsidized LoansUndergrad, graduate, and professional studentsUndergrad: 4.99%*

Graduate and professional: 6.54%*
Dependent undergrad: $5,500 to $7,500 per year ($31,000 total limit)

Independent undergrad: $9,500 to $12,500 per school year ($57,500 total limit)

Graduate and professional: $20,500 per year
($138,500 total limit)
Direct PLUS LoansParents, graduate students, and professional students7.54%*Cost of attendance minus any other financial aid received
*Federal student loan rates for the 2022-23 academic school year.
Keep in mind: How much you might be able to borrow in federal student loans depends on several factors, including your school’s cost of attendance, dependency status, and year in school.

There are also student loan limits that apply depending on the type of federal student loan. For example, you might be able to borrow up to $5,500 per year in Direct Subsidized Loans as an undergraduate student.

PLUS Loans, on the other hand, could cover up to your school’s cost of attendance minus any other financial aid you’ve received.

Check Out: Low-Interest Student Loans

3. Use private student loans to fill in the gaps

After you’ve exhausted your scholarship, grant, and federal student loan options, private student loans could help you fill any financial gaps left over.

Tip: Private student loans don’t offer the same protections as federal student loans, such as access to income-driven repayment and student loan forgiveness programs. However, if you’re considering federal vs. private student loans, here are a few benefits of private loans to keep in mind:

  • Higher borrowing limits: You might be able to borrow up to your school’s cost of attendance.
  • Potentially lower interest rates: You might qualify for a lower interest rate than you’d get on a federal loan, depending on your credit.
  • Might be available for other types of schooling: Depending on the lender, you might be able to use a private loan to pay for non-traditional schooling options, such as coding bootcamps or trade schools.

You’ll typically need good to excellent credit to qualify for a private student loan. Some lenders offer student loans for bad credit, but these generally come with higher rates than good credit loans.

Tip: If you’re struggling to get approved for a private student loan, consider applying with a cosigner. Even if you don’t need a cosigner to qualify, having one might get you a lower interest rate than you’d get on your own.

If you decide to take out a private student loan, be sure to consider as many lenders as possible to find the right loan for you.

Credible makes this easy — you compare your prequalified rates from our partner lenders in the table below in two minutes. Plus, all of these lenders are available in California.

LenderFixed rates from (APR)Variable rates from (APR)Loan terms (years)Loan amounts


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
4.62%+10 5.86%+10 5, 7, 10, 12, 15, 20
(depending on loan type)
$2,001 to $400,000
  • Fixed APR: 4.62%+10
  • Variable APR: 5.86%+10
  • Min. credit score: Does not disclose
  • Loan amount: $2,001 to $400,000
  • Loan terms (years): 5, 7, 10, 12, 15, 20
  • Repayment options: Full deferral, fixed/flat repayment, interest only, academic deferment, military deferment, forbearance, loans discharged upon death or disability
  • Fees: None
  • Discounts: 0.25% to 1.00% automatic payment discount, 1% cash back graduation reward
  • Eligibility: Must be a U.S. citizen or permanent resident or DACA student enrolled at least half-time in a degree-seeking program
  • Customer service: Email, phone
  • Soft credit check: Yes
  • Cosigner release: After 12 on-time principal and interest payments
  • Loan servicer: Launch Servicing, LLC


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
4.99%+1 5.1%+ 5, 10, 15$1,000 to $350,000
(depending on degree)
  • Fixed APR: 4.99%+1
  • Variable APR: 5.1%+
  • Min. credit score: 720
  • Loan amount: $1,000 to $350,000
  • Loan terms (years): 5, 10, 15
  • Loan types: Any private or federal student loan
  • Repayment options: Full deferral, full monthly payment, interest only, immediate repayment, academic deferment, military deferment, forbearance, loans discharged upon death or disability
  • Fees: Late fee
  • Discounts: Autopay, loyalty
  • Eligibility: Available in all 50 states (international students can apply with a creditworthy U.S. citizen or permanent resident cosigner)
  • Customer service: Email, phone, chat
  • Soft credit check: Yes
  • Cosigner release: After 36 months
  • Loan servicer: Firstmark Services


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
4.74%+2,3
4.74%+2,3 5, 8, 10, 15$1,000 up to 100% of the school-certified cost of attendance
  • Fixed APR: 4.74%+2,3
  • Variable APR: 4.74%+2,3
  • Min. credit score: Does not disclose
  • Loan amount: $1,000 up to cost of attendance
  • Loan terms (years): 5, 8, 10, 15, 20
  • Repayment options: Full deferral, full monthly payment, fixed/flat repayment, interest only, immediate repayment, academic deferment, forbearance, loans discharged upon death or disability
  • Fees: Late fee
  • Discounts: Autopay
  • Eligibility: Must be a U.S. citizen or permanent resident and be making satisfactory academic progress.
  • Customer service: Email, phone
  • Soft credit check: Yes
  • Cosigner release: After 24 months
  • Loan servicer: College Ave Servicing LLC

edvestinu student loan refinance

Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
7.52%+7 6.99%+7 7, 10, 15$1,000 to $200,000
  • Fixed APR: 7.52%+7
  • Variable APR: 6.99%+7
  • Min. credit score: 750
  • Loan amount: $1,000 to $200,000
  • Loan terms (years): 7, 10, 15
  • Repayment options: Full deferral, full monthly payment, interest only, immediate repayment, academic deferment, loans discharged upon death or disability
  • Fees: Late fee
  • Discounts: Autopay
  • Eligibility: Must be a U.S. citizen or permanent resident and have a minimum income of $30,000.
  • Customer service: Email, phone
  • Soft credit check: Yes
  • Cosigner release: After 36 months
  • Loan servicer: Granite State Management & Resources (GSM&R)


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
4.89%+ N/A10, 15$1,500 or $2,000 up to school’s certified cost of attendance
(depending on school type and minus other aid received)
  • Fixed APR: 4.89%+
  • Variable APR: N/A
  • Min. credit score: 670
  • Loan amount: $1,500 up to cost of attendance less aid
  • Loan terms (years): 10, 15
  • Repayment options: Full deferral, interest only, immediate repayment, academic deferral, forbearance
  • Fees: None
  • Discounts: None
  • Eligibility: Must be a U.S. citizen or permanent resident and be making satisfactory academic progress.
  • Customer service: Email, phone
  • Soft credit check: Yes
  • Cosigner release: After 48 months
  • Loan servicer: American Education Services (AES)


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
4.509 - 14.83%9 5.49%9 - 15.83%9 10 to 20$1,000 up to 100% of the school-certified cost of attendance
  • Fixed APR: 4.509 - 14.83%9
  • Variable APR: 5.49%9 - 15.83%9
  • Min. credit score: Does not disclose
  • Loan amount: $1,000 up to 100% of school-certified cost of attendance
  • Loan terms (years): 10 to 209
  • Repayment options: Full deferral, fixed/flat repayment, interest only, academic deferment, forbearance, loans discharged upon death or disability
  • Fees: Late fee, non-sufficient funds (NSF) fee
  • Discounts: Autopay
  • Eligibility: Must be a U.S. citizen or permanent resident. Also available to non-U.S. citizen students (including DACA students) attending a school located in the U.S. who apply with a qualifying cosigner.
  • Customer service: Phone, chat
  • Soft credit check: Yes
  • Cosigner release: Borrowers can apply after graduation, 12 consecutive on-time principal and interest payments, and meeting certain credit requirements.
  • Loan servicer: Sallie Mae
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Lowest APRs reflect autopay, loyalty, and interest-only repayment discounts where available | 10Ascent Disclosures | 1Citizens Disclosures | 2,3College Ave Disclosures | 7EDvestinU Disclosures | 8INvestEd Disclosures | 9Sallie Mae Disclosures

Learn More: How to Get a Student Loan for Online College

Students in California have plenty of options to pay for college

When it comes to covering education costs, you’ll likely need to cobble together multiple payment options. Remember to start with scholarships and grants that don’t have to be repaid before moving on to federal student loans and finally private student loans.

Keep in mind: Most students end up with a mix of both federal and private student loans to pay for college.

If you decide to take out a private student loan, compare as many lenders as you can to find the right loan for your needs. Credible makes this easy — you can compare your prequalified rates from multiple lenders in two minutes.

Compare student loan rates from top lenders

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Keep Reading:

  • On-Campus vs. Off-Campus Costs
  • These California Colleges Have the Lowest and Highest Student Loan Debt-to-Income Ratios
About the author
Lindsay VanSomeren
Lindsay VanSomeren

Lindsay VanSomeren specializes in credit and loans. Her work has appeared on Credit Karma, Forbes Advisor, LendingTree, and more.

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Home » All » Student Loans » California Student Loans: Pay for School in California

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