This is a list of alternative funding sources for students who may not qualify for other types of financial assistance or who need additional funding to meet the cost of education.
Long-term, low interest funds can be borrowed to replace the parent and/or student contribution and any remaining unmet need. All loan checks are sent to the college for disbursement.
For additional information call the NDSCS Financial aid Office at 1-800-342-4325 ext. 2207.
|Federal Direct Plus Loan||Madge Vertin Loan 1-800-342-4325 ext. 32207||Student Educational Loan Fund - SELF 1-800-657-3866||Wells Fargo Loan for Career and Community Colleges 1-800-658-3567||BND DEAL Loan 1-800-472-2166|
|Eligibility||At least ½ time; parent cannot have adverse credit history; must maintain satisfactory progress||2.0 GPA required; must be full-tme and maintain satisfactory progress||MN residents only; at least ½ time; must maintain satisfactory progress||U.S. Citizen or Co-Signer who is a U.S. Citizen||U.S. Citizen; supplements Stafford loan; must maintain satisfactory progress|
|Annual Loan Limits||Cost of Education less other aid||Full-Time, at home: $3,000 All Others: $5,000||$500 Minimum; $7,500 per grade level maximum||$1,000 minimum $15,000||Minimum $500; Cost of education less other aid|
|Cumulative Loan Limits||None||$10,000||$52,500 as undergraduate||$30,000 including all other Educational Debt||$50,000|
|Interest Rates||6.41%||3.86%||Variable||Check with Lender||Variable|
|Co-Signer||Varies by Lender||Yes||Yes||Yes, unless borrower meets certain credit requirements||Under age 24 require co-signer; over the age of 24 varies|
|Grace Periods||Varies by Lender||6 months on principal||13 months on principal||6 months on principal||6 months on principal|
|Repayment||Minimum $50 per month||Maximum 10 years; Minimum $50 per month||Maximum 10 years; Minimum $50 per month||Minimum $50 per month||Minimum $50 per month|
|Consolidation Option||No||No||Check with lender||Check with lender||Check with lender|
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