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2211 Riverside Avenue South
Minneapolis, MN 55454
612-330-1000

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Financial Aid Contact Info

612-330-1046
800-458-1721
Fax: 612-330-1308
enroll@augsburg.edu

Hours

M,W,F: 8:30 a.m. - 4:30 p.m.

T,TH:8:30-6pm

Weekend College Hours

Friday: 8:30 a.m. - 6 p.m.
Saturday: 8 a.m. - 1:00 p.m.

Office of Financial Aid - Undergraduate Day Student Loans

Please read all information carefully. For important information on loan fees and interest rates, please view the Undergraduate Loan Chart.

Stafford Loans

New Borrowers for the 2009-2010 Academic Year:

Using the link below, you will be asked to complete Federal Stafford Loan entrance counseling and to choose a lender for your Stafford loan. Augsburg will certify the full amount of the Stafford loan. If you do not wish to borrow the full amount of your Stafford loan, please notify the Enrollment Center.

Click to begin entrance counseling and to sign your Master Promissory Note.

To Make Changes to your Current 2009-2010 Stafford Loan:

If you would like to make a change to the amount of your Stafford loan, visit the Loan Change Form (Augnet login required).

Other Loan Options

• PLUS Loan (For parents of dependent students)
• Private Alternative Loans
  

Please be advised that private alternative loans should be utilized only after all other financial aid resources have been exhausted. Private loan interest rates are variable and are often based on credit plus an index such as PRIME or LIBOR. This means the interest rate on your loan could be something like PRIME +1%, PRIME +6% or PRIME + 9% depending on your credit. Currently PRIME is 3.25%, which is the lowest it has been in ten years. Two years ago in May of 2007, PRIME was 9.25%. Hypothetically, if you qualified for a private loan with an interest rate of PRIME +6%, your current interest rate would be 9.25%. If PRIME rises again to what it was two years ago (8.25%) your interest rate would also rise to 14.25%.

While the example above is hypothetical and not based on any particular lender, it is important to acknowledge that private loans have the potential to yield very high interest rates which will affect your monthly payments and the amount of interest you will pay over the life of the loan.