Undergraduates see borrowing history before accepting loans

When degree-seeking undergraduate students with a loan history respond to their financial aid award, they will be presented with an estimate of their total borrowing (if their financial aid package includes loans). They will be able to review the estimate of their total loans, an estimated monthly payment, and how that compares to other University of Minnesota graduates. While the estimate does not reflect loans taken out at other institutions, certain other loans, or any repayments made, it should help students understand where they stand and inform their future borrowing decisions. Students can review this information later by going to the communication center within their Student Center (via MyU). Similar initiatives at other universities have yielded positive results.