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Unlike
other types of aid, a student loan must be repaid, along with all
fees, charges and accumulated interest. Student loans typically do
not go into repayment until after the student has graduated, withdrawn from
College or dropped to less than half-time status. RCTC has several
loan programs available for students and their families. Our Loan
Comparison Chart helps to explain the differences in each loan type.
How do I apply for a student or parent loan?
Students must first complete the Free
Application for Federal Student Aid (FAFSA) and receive an
Award Letter from the RCTC Financial Aid Office.
Use the following link(s) to complete the loan application process for the
loan(s) which is shown on your award letter. If you have not been awarded
a loan, but are interested in borrowing, please contact James Scott in the
Financial Aid office to discuss your loan options. James can be reached
by email or by calling (507) 285-7267.
- Federal Stafford
Loan Programs (Subsidized & Unsubsidized)
- Minnesota SELF Loan Program
- Federal Parent (PLUS) Loans
- Alternative Loans
What happens when I graduate, drop below 6 credits or withdraw?
You are required to complete an Exit Session and update your contact information for your lender. Click here for more information.