Loans

Student loans must be repaid with interest. Each type of loan has its own interest rate and repayment terms. Be sure to carefully read your loan agreement before signing. Borrowing should be viewed as a last resort. Academic Advisors can help you minimize student debt and explore grant and work opportunities.

Borrow only what you need. Loans must be repaid with interest, so it is important to keep your total borrowing as low as possible.

Federal and Private Loan Options

Federal Direct Loans are available by completing the FAFSA. There are two types of Federal Direct Loans: Subsidized and Unsubsidized. A student may borrow up to $5,500 during their freshman year or $6,500 during their sophomore year. Independent students may qualify for an additional $4,000 in unsubsidized loan eligibility.

Direct Loans require additional steps and can be requested through your e-Services account. Private loans may be available for students who are not eligible for other types of financial aid or need additional funding.

Need Help with Your Loans?

If you are having issues with your student loan lender or servicer, the Student Loan Advocate with the Minnesota Department of Commerce can help.

File a complaint by visiting the Student Loan Advocate webpage
Email: jabra.kawas@state.mn.us
Call: 651-539-1022

Federal Direct Loans

Learn about Federal Direct Subsidized and Unsubsidized Loans at Riverland Community College. Understand loan limits, repayment options, deferment, and how to apply for financial aid to cover your education costs.

Private Loans

Private or Alternative Loans are loans borrowed from lending institutes rather than the Department of Education.

Parent PLUS Loans

The Parent PLUS loan allows the parents of dependent students, who are enrolled at least half-time, to finance the educational expenses of their child.

Entrance Counseling

All first time borrowers at Riverland are required to complete an online entrance counseling session before a federal student loan can be disbursed. The Entrance Counseling will help you understand the basics about your federal student loan and provide advice that can save you time and money in managing your student loans.

You will need your FSA ID to complete this counseling.

Exit Counseling

If you graduate, withdraw or drop below half-time registration status, and you have borrowed a Federal Direct or Perkins loan, you must complete the Exit Loan Counseling requirement. This is an opportunity to remind yourself of your rights and responsibilities as a student loan borrower.