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?
|Program Type||Annual Limit||Cumulative Limit|
Note: The annual SELF Loan limits will increase from $10,000 up to $20,000 for 4-Year and Graduate Programs on July 1, 2015. The cumulative loan limits will increase to $100,000 for 4-year programs and $140,000 for graduate programs, including any undergraduate SELF debt. If you are interested in the higher loan limits for fall term, wait until after July 1 to apply. Other programs will continue to have an annual limit of $7,500.
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.
10 June 2015
The annual SELF Loan limits will increase up to $20,000 for 4-Year and Graduate Programs on July 1, 2015. Online applications started July 1 or later will be eligible for the higher loan limits. If you have already applied for a fall loan, you can submit a second application for an additional amount.