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 Student loans typically do not go into repayment until after the student has graduated, withdrawn from College, or dropped to less than half-time status.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. To qualify for a student loan(s), the student must be currently enrolled in six or more credits. Our Loan Comparison Chart helps to explain the differences in each loan type.
Not sure if you need student loans or how much to borrow? Use our Budget Planning and Student Loan Checklist for help!
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. If your award notice in E-Services does not show your eligibility for student loan funding, please contact the Financial Aid Office to discuss your loan options. We can be reached by email or by calling 507-285-7271.
- Federal Direct Loan Programs (Subsidized & Unsubsidized)
- Federal Parent (PLUS) Loans
- Alternative Loans
What happens when I graduate, drop below six credits, or withdraw?
You are required to complete an Exit Session and update your contact information for your loan servicer.