Educate yourSELF with a Minnesota SELF Loan

SELF Loan Interest Rates

Interest rates are listed below for all phases of the SELF program. Applications are only being accepted for the current phase of the program, SELF 7.

Current Index and Margin Information


SELF 7
Year Term Quarter
  1st 2nd 3rd 4th
2024

10 Year

 7.40%

 7.30%

 7.30%

 6.70%

15 Year

7.65%

7.55%

 7.55%

 6.95%

20 Year

 7.90%

 7.80%

 7.80%

 7.20%

 

SELF 2, 3, 4, 5, & 6
Year Phase Quarter
  1st 2nd 3rd 4th
2024

 

Phase 6
Phase 3, 4, & 5
Phase 2

 

 

7.65%
7.95%
6.0%

 

7.55%
7.85%
6.25%
 7.55%
 7.85%
 7.25%
6.95%
7.55%
7.00%
2023 Phase 6
Phase 3, 4, & 5
Phase 2
6.0%
5.2%
4.0%
6.0% 
5.50%
4.25%
7.5%
7.0%
5.25%
7.9%
8.1%
6.0%

The variable interest index for SELF III, IV, and V transitioned from LIBOR on October 1, 2023 to the three-month United States Dollar IBOR Consumer Cash Fallbacks (CME Term SOFR).

2022 Phase VI
Phase III, IV & V
Phase II

2.2%
2.0%
3.0%
2.5%
2.25%
4.5%
4.0%
3.25%
6.00%
5.10%
4.00%
2021 Phase III, IV & V
Phase II
2.2%
2.0%
2.2%
2.0%
2.2%
2.0%
2.1%
2.0%
*2020 Phase III, IV & V
Phase II
3.9%
3.5%
3.5%
3.0%
2.6%
2.25%
2.3%
2.0%
*All interest rates were 0% from 3-13-20 through 9-30-20 due to COVID-19
2019 Phase III, IV & V
Phase II
4.6%
4.5%
4.7%
4.5%
4.5%
4.25%
4.2%
4.0%
2018 Phase III, IV & V
Phase II
3.8%
3.25%
3.9%
3.5%
4.3%
4.0%
4.3%
4.0%
2017 Phase III, IV & V
Phase II
3.5%
2.5%
3.5%
2.5%
3.6%
3.0%
3.7%
3.0%
2016 Phase III, IV & V
Phase II
3.4%
2.25%
3.4%
2.25%
3.4%
2.25%
3.4%
2.25%
2015 Phase III, IV & V
Phase II
3.2%
2.0%
3.3%
2.0%
3.3%
2.0%
3.3%
2.0%
2014 Phase III, IV & V
Phase II
3.2%
2.0%
3.2%
2.0%
3.2%
2.0%
3.2%
2.0%
2013 Phase III, IV & V
Phase II
3.3%
2.0%
3.3%
2.0%
3.3%
2.0%
3.3%
2.0%
2012 Phase III, IV & V
Phase II
4.0%
2.0%
4.0%
2.0%
3.5%
2.0%
3.4%
2.0%
2011 Phase III, IV & V
Phase II
3.8%
2.25%
3.8%
2.25%
3.8%
2.25%
3.8%
2.25%
2010 Phase III, IV & V
Phase II
3.8%
2.25%
3.8%
2.25%
3.8%
2.25%
3.8%
2.25%
2009 Phase III & IV
Phase II
5.7%
3.5%
4.7%
3.9%
4.3%
3.0%
3.9%
2.5%
2008 Phase III & IV
Phase II
7.0%
5.5%
6.0%
5.0%
5.8%
5.0%
5.9%
4.5%
2007 Phase III & IV
Phase II
7.7%
7.0%
7.4%
7.0%
7.4%
7.0%
7.4%
6.5%
2006 Phase III & IV
Phase II
7.5%
6.0%
7.9%
6.5%
7.9%
6.75%
8.1%
7.0%
2005 Phase III
Phase II
5.6%
4.0%
6.1%
4.5%
6.6%
5.0%
7.1%
5.5%
2004 Phase III
Phase II
4.2%
3.0%
4.4%
3.0%
4.6%
3.0%
5.1%
3.5%
2003 Phase III
Phase II
4.3%
4.5%
4.3%
3.25%
4.2%
3.0%
4.1%
3.0%
2002 Phase III
Phase II
n/a
6.25%
4.6%
5.0%
4.6%
4.25%
4.5%
4.25%
2001 Phase II 8.25% 7% 6.25% 6.25%
2000 Phase II 6.5% 7% 7.75% 8%
1999 Phase II 5.25% 5.25% 5.75% 6%
1998 Phase II 6% 6% 5.75% 5.75%
1997 Phase II 5.75% 6% 6% 6%
1996 Phase II 6.75% 6.25% 6% 6%
1995 Phase II 6.5% 6.5% 7% 6.75%
1994 Phase II 4.75% 4.5% 5.5% 6%
1993 Phase II 4.75% 4.5% 4.5% 4.5%
1992 Phase II 6.75% 5.75% 5.5% 5.25%
1991 Phase II 8.75% 7.75% 7.5% 7.25%
1990 Phase II 9.5% 9.5% 9.5% 9.25%
1989 Phase II 9.75% 10.5% 10.25% 9.5%
1988 Phase II     8.25% 9%