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SELF Loans


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.

Who is eligible to borrow?

An eligible borrower must be:

  • Enrolled in an eligible school in Minnesota or be a Minnesota resident enrolled in an eligible out-of-state school
  • (View a list of schools participating in the SELF program.)
  • Enrolled at least half-time in a certificate, associate, bachelor's or graduate degree program
  • Making satisfactory academic progress
  • Up-to-date on student loan payments

All SELF Loans are required to have a creditworthy co-signer.


What are the requirements for a co-signer?

A creditworthy co-signer must:

  • be a U.S. citizen or permanent resident 24 years or older, or, if a sibling, be the age of majority in your state.
  • have an address in the United States.
  • have no accounts discharged through bankruptcy; no liens or judgments; no more than $300 in negative credit accounts; and no more than 5% of accounts past due.


Frequently Asked Questions


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