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  • Direct Loan borrowers may choose from the standard, extended, graduated, income contingent, or income-based repayment plans. More information on your student loan repayment type and schedule can be found by logging into

    • Standard Repayment - With the standard plan, you will pay a fixed amount each month until your loans are paid in full. Your monthly payments will be at least $50 and you'll have up to 10 years to repay your loans.
    • Extended Repayment - To be eligible for the extended plan, you must have more than $30,000 in Direct Loan debt and you must not have an outstanding balance on a Direct Loan as of October 7, 1998. Under the extended plan you have 25 years for repayment and two payment options: fixed or graduated. Fixed payments are the same amount each month, as with the standard plan, while graduated payments start low and increase every two years.
    • Graduated Repayment - With this plan your payments start out low and increase every two years. The length of your repayment period will be up to ten years. If you expect your income to increase steadily over time, this plan may be right for you. Your monthly payment will never be less than the amount of interest that accrues between payments. Although your monthly payment will gradually increase, no single payment under this plan will be more than three times greater than any other payment.
    • Income Contingent Repayment - This plan gives you the flexibility to meet your Direct Loan obligations without causing undue financial hardship. Each year, your monthly payments will be calculated on the basis of your adjusted gross income (AGI, plus your spouse's income if you're married), family size, and the total amount of your Direct Loans. Any outstanding balance on your loan will be forgiven if you haven’t repaid your loans in full after 20 or 25 years.
    • Income-Based Repayment/Pay as You Earn/Income Sensitive - Under these plans the required monthly payment will be based on your income or can be underneath the standard plan. Your monthly payment may be adjusted annually. The maximum repayment period under this plan may exceed 10 years. If you meet certain requirements over a specified period of time, you may qualify for cancellation of any outstanding balance of your loans. Any outstanding balance on your loan will be forgiven if you haven’t repaid your loans in full after 20 or 25 years.
  • In accepting financial aid at Anoka-Ramsey, students should acknowledge certain rights and responsibilities:

    You have a right to:

    • Accept, reject, or seek adjustment to your financial aid award without prejudice.
    • Know how much aid you will receive by term and how it will be disbursed or applied to your account.
    • Know the terms of any employment program award offered.
    • Know the interest rate, amount and repayment starting date of loans offered to you.
    • Meet with a financial aid professional to review any decisions you feel warrant consideration due to an emergency or circumstances beyond your control.
    • Receive answers to any questions you have about financial aid.
    • Cancel all or a portion of their federal, state, or private loan funds any time prior to disbursement. Parents have the right to cancel all or a portion of their federal PLUS loan any time prior to disbursement.
    • Cancel all or a portion of your Federal Direct or PLUS loan disbursement any time within 14 days from the date of your Title IV disbursement notification.
    • Return any funds you do not wish to accept by returning that portion to the loan servicer directly or you may request that Anoka-Ramsey Community College cancel some or all of the loan and return the funds on your behalf.

    You have a responsibility to:

    • Apply each year you want to receive financial aid.
    • Provide complete and accurate information, and documentation if requested.
    • Notify our office of change of enrollment, financial status, and outside awards.
    • Complete entrance and exit counseling and repay all loans according to the terms of your truth in lenders statement and promissory note.
    • Use funds awarded solely for educational expenses incurred while attending college.
  • Anoka-Ramsey is required to refer for investigation any instance in which the review of Federal Title IV aid applications shows reason to suspect that an applicant may have engaged in fraud or other criminal misconduct in connection with the application or documentation that was submitted in response to the application. The following examples are in the regulations as instances that should be reported to the appropriate authorities:

    • False claims of independent student status
    • False claims of citizenship
    • Use of false identities
    • Forgery of signatures or certifications
    • False statements of income
    • False household data

    If you are having issues with your student loan lender or servicer, the Student Loan Advocate with the Minnesota Department of Commerce is here to help. To file a complaint, please visit our web page. For general questions, please contact Student Loan Advocate Jabra Kawas at or 651-539-1022

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