SELF Grad Loan
The SELF Grad Loan is a new option for students pursuing a degree beyond a Bachelors. The loan offers fixed rates that are not based on credit score but instead are based on whether the loan has a cosigner and the repayment term chosen. Borrowers can choose between a 10-, 15-, or 20-year repayment term with lower rates offered if a co-signer is added. There are select Doctorate programs that qualify for higher loan limits and an optional Extension period to help during residency.
SELF Grad Loan fixed interest rates as of June 2, 2026
Rates with a co-signer
| Term | Rate |
| 10 Year | 6.00% |
| 15 Year | 6.45% |
| 20 Year | 6.95% |
Rates without a co-signer
| Term | Rate |
| 10 Year | 7.25% |
| 15 Year | 7.75% |
| 20 Year | 7.95% |
All loan options begin with our “Apply Now” button, and borrowers will be guided to the option that fits their chosen school, grade level, and degree.
Advanced Dentistry, Dentistry, Medicine, Pharmacy, Veterinary Medicine
- Loan Minimum: $2,000
- Cumulative Maximum: $300,000 with no annual limit
- Optional Extension Period for residency/training
- $15 minimum monthly payment while In-School
All other degrees or certificates beyond a Bachelors
- Loan Minimum: $2,000
- Annual Maximum: $50,000
- Cumulative Maximum: $150,000
- $15 minimum monthly payment while In-School
- MN Resident Student attending a participating school or Non-Resident, U.S. Citizen, or Permanent resident physically attending a participating MN School
- At least half-time enrollment
- Meeting Satisfactory Academic Progress requirements
- Minimum FICO 670 (unless co-signed)
- Must pass credit review
- Current on existing SELF Loans
- Age of majority in the state they reside in
- Cannot be a resident of Colorado, Connecticut, Maine, or Puerto Rico
- U.S. Citizen or Permanent Resident
- Minimum FICO 670
- Must pass credit review
- Current on existing SELF Loans
- Age of majority in the state they reside in
- Cannot be a resident of Colorado, Connecticut, Maine, or Puerto Rico
- Minimum FICO of 670 unless co-signed.
- No more than two (2) accounts reporting 30-day delinquencies during the previous two (2) years unless co-signed.
- No delinquencies of 60 days or more during the previous two (2) years unless co-signed.
- No charge-offs, repossessions, collection accounts, foreclosures, or garnishments by credit providers unless co-signed.
- No defaulted student loan, even if paid off.
- No active or previous bankruptcies within the last seven (7) years.
- Not currently 15 or more days delinquent on any SELF Program Loan.
- Minimum FICO of 670.
- No more than two (2) accounts reporting 30-day delinquencies during the previous two (2) years.
- No delinquencies of 60 days or more during the previous two (2) years.
- No charge-offs, repossessions, collection accounts, foreclosures, or garnishments by credit providers within the past seven (7) years.
- No active or previous bankruptcies within the last seven (7) years.
- Not currently 15 or more days delinquent on any SELF Program Loan.
Prospective borrowers who have questions about the SELF Grad Loan can contact staff by email, selfloan.ohe@state.mn.us, or by phone, (651) 642-0567 or (800) 657-3866.
Borrowers who have already started an application and have questions on the process should contact Aspire Origination at (888) 902-6057 open from 8-4:30pm central time.