Other Loan Types

Students are strongly encouraged to talk with the Student Financial Services Office before taking out one of these loans because they may find they are eligible for other financial aid, including additional federal loans or certified private educational loans with better repayment terms and conditions. If this is the case, it may then be possible to reduce the amount of, or altogether eliminate the need for a Direct-to-Consumer Loan.

Students who choose to take out a Direct-to-Consumer Loan must report the amount of the loan to the Student Financial Services Office where it must be considered as a resource in combination with any other aid received. Students who have not coordinated with the Student Financial Services Office about their Direct-to-Consumer Loan may find that it results in a reduction in or required repayment of other aid.

Alaska State Student Loans are available only to students or their family members who are residents of Alaska. Students may receive these funds in addition to, or in lieu of, Federal Direct Loans.

Students or their family members who are residents of Alaska also have the opportunity to apply for an alternative education loan from the Alaska Advantage Program.  These loans are credit based and students or their family members may borrow up to the annual limit of the loan programs.

More information is available at the Alaska Commission on Post Secondary Education's website.

To be eligible, a student must:

• Be a Minnesota resident enrolled in an eligible school (Seattle University is eligible),
• Be enrolled at least half-time in a program leading to a certificate, associate, baccalaureate or graduate degree,
• Be making satisfactory academic progress as defined by the school,
• Not be in default or delinquent on any student loans, and
• Have a credit-worthy co-signer.

Go to the Minnesota Office of Higher Education for the SELF Loan application and more information.