Minnesota SELF Loan
Educational Loan Fund (SELF) Program
The Minnesota SELF Loan helps students who need assistance in paying for education beyond high school. Loan eligibility is not based on need. To be eligible for the SELF program, a student must be a Minnesota resident who maintains satisfactory academic progress, is enrolled at least half time in a degree seeking program and is attending an eligible institution. In addition, the student must have a credit worthy co-signer and not be delinquent or in default on a SELF or other outstanding student loans.
Borrowers are required to pay interest quarterly while in school. After graduating or leaving school the student enters repayment. The interest rate charged to the borrower changes throughout the life of the loan, and can change every three months. SELF Loan applicants are required to complete SELF Loan Entrance Loan Counseling. For more information visit the Minnesota Higher Education Coordinating Board, www.selfloan.org.
Annual Loan Limit:
Undergraduate and graduate $10,000 per grade level
Cumulative Loan Limit:
Graduate $70,000 including undergraduate SELF
You must make interest payments while
you are in school.