Carleton offers a limited amount of loans from the college itself, and only on a case-by-case basis: Carleton College Loans if all other loan options have been explored and Henry Strong Loans to assist with off-campus studies in the rare cases when a student’s existing financial aid won’t cover the full cost. Before pursuing either of these options, you need to first talk with a student financial aid staff person.

Carleton College Loan

Carleton’s student financial aid staff determine the maximum loan amount and review all requests. Typically a student may be considered for a Carleton College Loan if:

  • All federal loans have been utilized for the academic year for which a student is eligible,
  • The student has been unsuccessful in obtaining a private alternative loan with a co-signer through a different loan program, OR
  • A student was offered a Carleton College Loan in their financial aid offer.

The Carleton College Loan has a fixed interest rate of 5.0% and a 10-year repayment period. It is eligible for deferment during periods of greater than half-time enrollment.

Carleton College Loans are serviced by Heartland ECSI. Contact financialaid@carleton.edu for more information.

Henry Strong Loan

This loan is also offered through Carleton, specifically for off-campus studies. Again, funding is limited and Carleton’s office of student financial aid determines the maximum loan amount and reviews all requests. Typically a student may be considered for a Henry Strong Loan if one of the following occurs:

  • The student is on an off-campus study (OCS) program that is more expensive than a term at Carleton and they have completed the OCS worksheet.
  • All federal loans have been utilized for the academic year for which a student is eligible.
  • A student was offered a Henry Strong Loan in their financial aid offer.
  • If interested, you also need to complete the off-campus studies scholarship and loan application.

The Henry Strong Loan has a fixed interest rate of 5.0% and a 10-year repayment period. It is eligible for deferment during periods of greater than half-time enrollment.

Important Loan Disclosure Information

Lenders offering private education loans, including institutional loans, are required to disclose certain information that is intended to protect your rights and interests. These disclosures may delay the processing of your loan if you do not respond to requests promptly. These additional requests clarify your responsibilities, provide specific information about repayment and allow a time to refuse the loan if you change your mind. You should read all disclosure information carefully before accepting any loan. In addition, prompt responses will allow loans to be processed more quickly.

The Carleton College and Henry Strong loans will ask you to complete a self-certification form to report your cost of attendance and the aid you currently receive. That information will be pre-populated on the self-certification form you complete.