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Federal
Parent Loan for Undergraduate Students (PLUS)
This loan is an alternative funding source for parents
who need additional funding to meet the cost of education. Financial need is not required
to be eligible to borrow a PLUS Loan.
Federal Graduate PLUS (GradPLUS)
This loan is an alternative funding source for
graduate/professional students
who need additional funding to meet the cost of education. Financial need is not required
to be eligible to borrow a GradPLUS Loan.
Minnesota Student Educational Loan Fund (SELF)
This is a loan for Minnesota residents.
Interest payments are required while the student is in school. The
interest rate is variable and a co-signer is required. The minimum loan
processed is $500.
Alternative (private) Education Loans
Alternative Education Loans are available to students or parents as an option if the
aid that the student has been awarded does not cover all of the student’s educational
expenses and the student has exhausted their eligibility for the Federal loan programs.
Alternative Education Loans are not based on financial need, although most lenders
will evaluate the applicant’s (and/or co-signer’s) credit-worthiness.
What does this mean?
Gabriel J. Brown Trust Loan Fund
This is a loan for North Dakota residents. The applicant must be
attending a ND post-secondary institution, have been in attendance for at least four
semesters OR have acquired 48 semester hours of credit, and have maintained at least a 2.5
GPA.
Principal and interest repayment begins one year after the student
graduates or leaves school and the interest rate is 6%.
The deadline for application is June 15th of each year.
An application may be obtained from the Student Financial Aid Office or by writing
to: Gabriel J. Brown Trust, 112 Avenue E West, Bismarck, ND 58501.
Canadian Higher Education Loan
Fund (CanHELP)
The borrower must be a Canadian citizen and is open to
undergraduate and graduate students. The minimum loan is US$2000 and the
interest rate is variable. 1-888-296-4332 or
www.iefc.com.
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