The SELF fixed rate will decrease to 5.75% on July 1, 2019 for new loans. If you are interested in the fixed rate and don’t need money immediately you may want to wait to apply. If you are applying for a summer loan allow 3-4 weeks from when you start your application to disbursement of funds.
About SELF Loan
The SELF Loan is a long-term, low-interest student loan. Because the SELF Loan is administered by the Minnesota Office of Higher Education, a state agency, the interest rates may be lower than private loans and some federal loans. With the SELF Loan, you know before you apply what your interest rate is. Rates are the same for everyone and are not based on credit scores like most private loans.