Main Content:
The
Student Educational Loan Fund (SELF) program is a loan offered by State
of Minnesota through the Minnesota Office of Higher Education. The
SELF program is available to all students, regardless of income level.
However, students must first exhaust all grant aid before applying
for a SELF Loan. In addition, the SELF loan requires a credit worthy co-signer.
The maximum SELF loan available for the
2012-13 academic year is $7,500.00
at RCTC.
There are no deferment provisions for the SELF Loan.
See the Loan Comparison Chart for
more information about the SELF loan and how it compares to other loans
available at RCTC.
How do I apply for a SELF loan?
- STEP
1: Complete the Student Section of the online SELF loan
application, including SELF loan Entrance Counseling at www.selfloan.org.
If you have borrowed a SELF loan before or have complete the Entrance
Session previously, you will be allowed to bypass this step. When you
are finished you will be prompted to PRINT your application/promissory
note.
- STEP
2: Complete the Co-signer section and credit approval.
Your co-signer will also log into the SELF loan website at www.selfloan.org to complete their section of the loan application. A credit check will be run for the co-signer.
- STEP 3: Provide notarized signatures and submit your application.
Your and your co-signers signatures must be witnessed by a notary public. If you need help locating a notary, please contact the RCTC Financial Aid Office.
When your application is complete, signed and notarized, please send it to the Minnesota Office of Higher Education. The address will be printed on your application.
- STEP
4: Track the progress of your loan. Once all steps are
completed, you can track the status of your loan at www.firstmarkservices.com.
If approved, your loan funds will be sent directly to RCTC on the next
available disbursement day and will be applied any outstanding balance
you have with RCTC. If loan funds remain, you will be issued a 'change
check' for the difference.
Questions regarding the SELF loan program should be directed to
James Scott at the RCTC Financial Aid Office. James can be reached either by email or by phone at (507) 285-7267
« Return to Student Loan Homepage.
Updated: April 14, 2012
