Educational Loan Information

Nearly every need-based financial aid award at St. Olaf includes student loans. Because we believe a college education is an investment in a student's future, he or she should be willing to take on a reasonable amount of debt to assist with this investment. St. Olaf's Financial Aid Office will review your eligibility for all types of aid including loans and offer you the most attractive loan programs available based on your financial need and the program funds available. Loans are the last type of aid for which you are considered (after grants, scholarships, and student employment). They are considered self-help financial aid because you must repay the money you borrow.

There are four main types of educational loans:

  1. Federal Perkins Loan
  2. Federal Direct Student Loans
  3. Federal Direct Parent PLUS Loans
  4. Student Alternative Loans

The comparison chart will give you an overview of your federal loan options. Students must complete the Free Application for Federal Student Aid (FAFSA) to be considered for federal student and parent loan programs.

If you are looking for additional financing options (after you have exhausted your federal loan eligibility), you may wish to consider a student alternative loan.

To apply for any of the loans mentioned above, please select the appropriate Apply Now link on the right side of your screen.