The Minnesota SELF Loan is a low-interest student loan available to students with a credit-worthy cosigner. YOU DO NOT HAVE TO BE A MINNESOTA RESIDENT TO APPLY FOR THIS LOAN. Please follow the steps below to get started.
EVEN THOUGH THE ONLINE SELF SYSTEM ALLOWS YOU TO REQUEST UP TO $7,500, YOU MAY ONLY BORROW UP TO $3,500!
1. Speak to one of our Admissions Representatives to enroll- or enroll online.
2. Review the online counseling session by clicking on the picture below.
IMPORTANT- The MN SELF Loan REQUIRES a credit-worthy co-signer.
Your co-signer must be:
• A U.S. citizen or permanent resident 24 years of age or older, or 18 years if a sibling (i.e., a brother or sister) of the borrower.
• Someone with an address in the United States, who has no credit bureau balances discharged through bankruptcy, no garnishments, attachments, foreclosures, repossessions, or suits.
• Someone with no more than $300 combined total in unsatisfied credit or unsatisfied payment obligations.
• Someone with no more than 5 percent of credit bureau balances past due.
If your co-signer is unsure of his or her credit, please have him or her submit for a free credit report. (Choose TransUnion credit report.)
PLEASE NOTE- USE ONLY A DESKTOP/LAPTOP COMPUTER ON INTERNET EXPLORER 7.0 OR HIGHER TO COMPLETE THE ONLINE SELF LOAN APPLICATION!
* In the event that a borrower, for any reason, fails to complete a loan period, withdraws, and the school calculates a SELF refund for the borrower, that refund must be returned to the office for the SELF loan program within 30 days of the date the school becomes aware of the withdrawal.