Aid for Graduate Students
Loans are borrowed money that must be repaid with interest. The cost of attendance may be offset by other forms of financial assistance, such as scholarships and work study. Loans can help with the rest. Eligibility for federal loans requires 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. Please note that there is a 5-10 business day processing timeframe for loan certification and origination after loan steps are completed. It is recommended to complete any and all outstanding application steps for all loans at least 30 days prior to the start of an academic term you need loan funds for.
Direct Unsubsidized Loans
Direct Unsubsidized Loans are available to graduate students regardless of financial need. The student is responsible for paying the interest on the Unsubsidized Loan during all periods. If a student chooses not to pay the interest while enrolled in school and during grace and/or deferment periods, the interest will accrue and be capitalized (added to the principal loan amount).
Federal Direct Loan interest rates
Please check the current loan rate from the Federal Student Aid Office.
Origination fee
All Direct Subsidized and Unsubsidized Loans are subject to a federal origination fee. Please check the current loan fee from the Federal Student Aid office.
Annual and aggregate loan limits
There are annual and aggregate loan limits for students based upon their degree and class level as detailed at the Department of Education Website. For an estimate of your monthly loan payments after you graduate, take a look at the Department of Education’s loan simulator.
Learn more about Federal Subsidized and Unsubsidized Loans
Please click here to learn more about Federal Subsidized Loans.
Master Promissory Note and entrance counseling
In addition to completing the FAFSA each year, first-time Direct Subsidized and Unsubsidized loan borrowers at CalArts must complete the two steps below once before the first year they borrow loans:
As of July 1st, 2026, new incoming graduate students are no longer eligible to borrow Direct PLUS loans.
Read more about this change from the Federal Student Aid Office
California Institute of the Arts recommends that all other methods of education financing be exhausted, including federal loans, grants, and scholarships, before taking on private student loans.
Private education loans were designed to bridge the gap between college costs and traditional financial aid resources. Private education loans may be used to help pay for current term expenses and some lenders allow students to apply for loans to cover unpaid balances from a previous term or academic year. Some lenders also allow students to apply for a private education loan even when they are enrolled less than half time.
Private education loans cannot exceed the cost of attendance minus other financial aid the student is receiving. They are offered and serviced by private loan lenders. Students should exhaust federal loan eligibility before borrowing a private education loan.
Eligibility for a private education loan is based on the student’s and co-signer’s (if required) credit history. Most private education loan lenders allow students to determine if they would like to have a fixed or variable interest rate. CalArts is an impartial party and cannot recommend any particular lender. However, through careful consideration of many factors, including borrower benefits, CalArts has developed a list of lenders that are currently participating in private student lending. Students are in no way restricted to this list of lenders when borrowing private education loans. Please click the button below to begin your private education loan research and comparison.
Private Lending for Higher Education
The Financial Aid Office will certify private loan eligibility once we receive notification of an approved private loan application from your lender. Please note that there is a 5-10 business day processing timeframe before certification can take place. It is recommended to complete any and all outstanding application steps for all loans at least 30 days prior to the start of an academic term for which you need loan funds.
The Title X of the Higher Education Opportunity Act (HEOA) requires that a series of three loan disclosures be provided to Private Education Loan borrowers throughout the application process and that the borrower also complete the Private Education Loan Self-Certification Form prior to the loan being disbursed.
The purpose of the disclosures is to:
The student is required to complete the Private Education Loan Self-Certification Form and return it to the private education loan lender. The private education loan lender will not disburse any loan funds until the student’s completed form has been received.
Only complete and return if your private education loan lender requests this form.
Please note that the borrower has the right to cancel a portion of or the entirety of their loan within 30 days of the disbursement of the funds to the student’s account, 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 contact the Office of Financial Aid at finaid@calarts.edu and state what loan and amount you would like canceled or reduced.
Office hours
Spring and fall semesters: Monday–Friday from 9 am–5 pm
Summer: Monday–Thursday from 9 am–5 pm
Email: finaid@calarts.edu
Phone number: 661-253-7869 or 800-443-0480
Room number: F201 (next to the Cashier’s Window)