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Offering better rates and options for Undergraduates, Graduates and Parents
2.94% – 6.37% APR*
LelaCHOICE is a supplemental education loan for undergraduate students who need additional funds to pay for college.
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LelaCHOICE offers supplemental education loans for graduate and professionals students with or without cosigners options.
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LelaCHOICE is a supplemental Loan for parents or family members to borrow for their students to help with college costs.
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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 |
*The U.S. Department of Education does not provide APR calculations for federal loans. As a guide for comparing costs, however, the expected costs of the Federal Direct PLUS Loan for 2022–2023 is approximately equivalent to an APR of 8.53%, which is based on borrowing $10,000, a 4.228% origination fee and a fixed interest rate of 7.54% during the 120-month principal and interest repayment period. For Full Details
For FAFSA related questions, call the Lela FAFSA HELPline for assistance: