What Is a SELF Loan?
The Student Educational Loan Fund (SELF) Program is a long-term, low-interest educational loan provided by the Minnesota Office of Higher Education. Minnesota residents attending eligible post-secondary institutions in-state or out-of-state, and nonresidents attending eligible post-secondary institutions within Minnesota are eligible to apply.
SELF Loan requirements:
- Can only be used for educational purposes.
- Must be enrolled at least half-time in a degree seeking program.
- Must be making satisfactory academic progress as defined by the school.
- Must not be in default on any student educational loan.
- Must not be currently delinquent in payment of interest or principal on an outstanding SELF or any other student loan program.
- Must have applied for and exhausted all eligibility for other financial aid except Direct Loans and federal work study.
- Must have a credit-worthy co-signer.
To continue with your Self Loan Counseling, answer the following question correctly.
Which is not a requirement of the SELF Program?