The SELF Loan is a long-term, low-interest student loan. Because the SELF Loan is administered by the Minnesota Office of Higher Education, a state agency, the interest rates may be lower than private loans and some federal loans. With the SELF Loan, you know before you apply what your interest rate is. Rates are the same for everyone and are not based on credit scores like most private loans.
Am I eligible?
You may be eligible if you are a Minnesota resident attending a participating college nationwide or if you are a Minnesota resident or nonresident attending a college in Minnesota.
How much can I borrow?
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The SELF Loan is administered by the Minnesota Office of Higher Education, a state agency. The SELF program has provided over $2.0 billion in loans to students since 1984.
20 February 2015
The SELF fixed interest rate for loan applications started on April 1, 2015 or later will have an interest rate of 6.5%. You may want to delay applying for a fixed-rate loan if you do not need the funds immediately. Fixed-rate loans currently in process or fixed-rate loan applications started prior to April 1 will have the current rate of 6.9% for the life of the loan.