Loans

Federal Perkins Student Loan
Amount: $3,000 per year
Need-based loans made by college to students who are enrolled at least half time. Repayment begins nine months after leaving school; 5 percent annual interest rate.

Nursing Student Loan
$2,500 per year
Need-based loans made by college to nursing students who are enrolled at least half time. Repayment begins six months after leaving school; 5 percent annual interest rate.

 

 

 

Federal Stafford Student Loan (GSL)
$2,625 (first year)
$3,500 (second year)
Made by a private lender (bank, credit union, savings and loan, etc.) to students enrolled at least half time. Repayment begins six months after leaving school; 8.25 percent maximum variable annual interest rate.

Federal Parents Loans for Undergraduate Studies (PLUS)
Cost of attendance less other aid
Available to parents of dependent undergraduate students, subject to a credit review. Repayment begins 60 days after loan receipt; 8.25 percent maximum variable annual interest rate.

Federal Unsubsidized Stafford Loan
$4,000 per year
Available to self-supporting students enrolled at least half time. Repayment begins 60 days after loan receipt; 8.25 percent maximum variable annual interest rate. Students may pay interest only or capitalize interest for future repayment.

Student Educational Loan Fund (SELF)
$4,500 per year
Loans made by the state of Minnesota, require credit-worthy co-signers. Interest repayment quarterly during periods of enrollment; variable interest rate.

Work Study
$2,000 per year
Campus and community service jobs are available to students demonstrating financial need. Most placements are for the academic year; some summer jobs are available. Work five to 15 hours per week on campus.