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Minnesota SELF Loan Program


The Student Educational Loan Fund (SELF) program is an alternative 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
2014-15 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?

  1. 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.

  2. 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.

  3. 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.

  4. 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

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