Loan Information
The University of St. Thomas Financial Aid Office Staff is available to assist you in understanding the educational financing options available to you. To that end, we have historically offered guidance to students and their parents concerning student loan options.
Student Loans are low cost ways to finance your educational expenses. They generally have lower-than-market rates of interest and fees and often have the option to defer payment until after you have completed your program.
If you are unable to pay for all of your costs of education out of your resources or a combination of your resources and the scholarships or other grants you are offered, you may want to consider borrowing a student loan.
There are three main types of loan programs from which students can borrow:
Minnesota Office of Higher Education SELF Loan program
Supplemental/Alternative Loans
The following is a summary of the information that may be helpful to parents and students when making decisions regarding educational financing.
Pay Attention to the Student Loan Landscape. The student loan industry is currently in a dynamic state. The industry has recently undergone major changes and will likely continue to change in reaction to the marketplace and new legislation enacted by Congress concerning student lending practices. Pay close attention to notices lenders send you about their loan programs, interest rates, fees and repayment benefits. Remember, the obligation to repay student loans rests entirely with the borrower (and cosigner, if applicable), not the school. Please borrow responsibly.
Do Your Research. Lenders compete for your business and each lender offers its borrowers different benefits in order to differentiate its loan products from others in the marketplace. UST will process a student loan from any lender you choose. The standard repayment term form most student loans is 10 years so it is in your best interest to take the time now to make sure the lender you choose will meet your needs. If you have already have a relationship with a given lender and are familiar with the products offered, that may be a good place to start. However, with thousands of lenders participating in student loan programs, you have many options.
Things to consider when researching educational loan products/lenders
Consider the Facts. UST does not maintain or distribute a preferred lender list. We believe it is in everyone's best interest for you to research lenders independently in order to determine which lender will best suit your needs.
The links below provide information for the most frequently used lenders by UST students based on historical borrowing data. The information provided is listed alphabetically by lender name. The lenders noted therein are not specifically endorsed by UST. Furthermore, UST does not and cannot guarantee the lenders noted will provide the best borrower benefits to you. Remember, UST will process a student loan from any lender you choose but it is your responsibility to research the options available to you.
Federal Stafford Lender Information
