Refinancing rules
Candidates for refinancing must:
• Be Minnesota residents
• Have earned a certificate, diploma, associate, bachelor or graduate degree
• Have a minimum FICO credit score of 720 to qualify without a co-signer
• Have a maximum debt-to-income ratio of 45 percent
• Have no delinquencies on their credit report
• Have no unpaid charge-offs, liens or judgments totaling $300 or more
• Have a co-signer if the borrower is not a U.S. citizen or permanent resident.
Source: Minnesota Office of Higher Education