You are leaving the Lela site
LelaCHOICE offers better student loan options for undergraduates and graduate students.
Choose Quality. Choose Community. Choose Lela!
Offering better rates and options for Undergraduates, Graduates and Parents
2.94% – 6.37% APR*
For
Undergraduate Students
LelaCHOICE is a supplemental education loan for undergraduate students who need additional funds to pay for college.
Click here for the answer to Common Questions for Students
For
Graduate Students
LelaCHOICE offers supplemental education loans for graduate and professionals students with or without cosigners options.
Click here for the answer to Common Questions for Students
For
Parents and Families
LelaCHOICE is a supplemental Loan for parents or family members to borrow for their students to help with college costs.
Click here for the answer to Common Questions for Parents
Which LelaCHOICE option is best for you?
| Loan Name: | LelaCHOICE for Undergrad Students | LelaCHOICE for Grad Students |
LelaCHOICE for No-Cosigner Graduates |
LelaCHOICE for Parents |
|---|---|---|---|---|
| Primary Borrower | Student | Grad Student | Grad Student | Parent |
| Rate Options | Fixed | Fixed | Fixed | Fixed |
| Upfront Processing Fees | NO | NO | NO | NO |
| Auto Debit Option Reduction | YES | YES | YES | YES |
| Transparent underwriting & cosigner option | YES | YES | YES | YES |
| Capitalized Interest Charged | NO | NO | NO | NO |
| Higher Cumulative Loan Limits | YES | YES | YES | YES |
| Extended Period for Prior Past Due Balances | YES | YES | YES | YES |
| Internship Residency Forbearance | N/A | YES | YES | NO |
| Cosigner Necessary | Usually; But Not Required for Creditworthy Borrowers | Usually; But Not Required for Creditworthy Borrowers | N/A | Not required but allowed |
| Cosigner Release Option | YES | YES | N/A | YES |
| Apply Now | Apply Now | Apply Now | Apply Now |
Benefits of selecting LelaCHOICE
- FIXED low rate from 2.94 %-6.37% APR (with auto-pay)
- Flexible repayment plans
- No application or origination fees
- No pre-payment penalties
- No capitalized interest ever
- Cosigner options available
- Easy online application process, instant credit decisions
- Interest rate reduction benefit for selecting Auto-debit
- Knowledgeable and friendly LelaCHOICE team is available to assist you!
- Added Benefits for Graduate Students:
-
-
-
- Higher loan limits
- New No Cosigner Loan option
- Extended prior debt period
- Residency internship forbearance offered, upon request
-
-
See How LelaCHOICE compares with other Lenders*
*Many lenders only offer limited information about their actual rates upfront. They do not provide all the rate details within the range of rates depicted on these graphs. The specific rate an applicant is offered will be determined by the loan type selected and the applicant’s or, if applicable, the cosigner’s credit history and credit score. APRs were retrieved from the lenders’ websites on May 7, 2024, for fixed-rate loans for student borrowers while the student is enrolled at least half time and for parent or family borrowers while the student for whom the loan being requested is enrolled at least half time. The ranges contain rates offered to applicants with a wide range of credit scores and for a variety of repayment options and terms. For Full Details
For FAFSA related questions, call the Lela FAFSA HELPline for assistance: