651-696-6866 (fax )
1600 Grand Avenue
St. Paul, MN
The Admissions and Financial Aid Offices are located at 62 Macalester Street.
see Loans and Financing for additional information
Federal Direct Loans are made to the student. No credit history is required to qualify for this loan. The standard repayment term is 10 years. No payments are required until after you graduate or drop below half-time enrollment.
If you qualify for a Federal Direct Subsidized Loan, the federal government will pay the interest while you are enrolled in college at least half-time. If you have a Federal Direct Unsubsidized Loan, you will be immediately responsible for the interest. Repayment deferments are available for graduate school and other circumstances.
If your award letter shows less than the maximum for your grade level and you need to borrow more, contact the Financial Aid Office.
Please complete a Loan Reduction/Cancellation Request Form if you would like to decline or reduce your Direct Loan. Details on the Federal Direct Loan program can be found on the Department of Education web site.
Federal Perkins Loans are loans made to the student and are generally directed to students who demonstrate the highest levels of financial need. Funds for this loan are generated by alumni who are repaying their loans and are, therefore, finite.
- Standard repayment term = 10 years
- Interest rate = 5% (fixed)
- No interest accrues and no payments are required while the student is enrolled at least half-time.
- Repayment deferments are available for graduate school and other circumstances.
You are not obliged to accept a Federal Perkins Loan. Please complete a Loan Reduction/Cancellation Request Form if you would like to decline your Federal Perkins Loan. More information can be found on the Department of Education web site.