Student Educational Loan Fund (SELF)

Servicer	Minnesota Higher Education Services Office
Phone	(800) 657-3866
Website	www.selfloan.org
Borrower	Student with creditworthy co-signer
Loan Minimum	$500
Loan Maximum	$7,500
Aggregate Limit	$34,500
Loan Fees	None
Current Interest Rate	5.80% through September 30, 2008
Interest Determination	Variable, set quarterly LIBOR + 3.0%
Interest Capitalization	Not applicable
Repayment Terms	Interest-only payments required while in school and for 12 months after graduation. Monthly repayment of principal and interest begins 12 months after graduation with a maximum repayment period of up to 10 years
Borrower Benefits	No fees Interest-only payments while enrolled in college No prepayment penalty May be deferred under certain conditions while enrolled in graduate school Proceeds from loan go back into the state budget as a benefit to Minnesota residents

Contact Information