Proposed Permanent Rules Relating to Higher Education Financial Assistance and Supplemental Student Loans
Minnesota Rules 4830.0150 to 4850.0017
The Minnesota Office of Higher Education adopted amendments to rules governing the Higher Education Financial Assistance and Supplemental Student Loans program. The SELF Loan Program is a state program of supplemental loans to postsecondary students. More information on the SELF Loan Program.
The intent of the rule amendments will enable the Office of Higher Education to:
- provide borrowers with more flexibility for forbearances and remaining in-school status to help them reduce their risk of defaulting on their loan
- utilize cosigner credit scores to determine their credit worthiness
- terminate participating postsecondary institutions with high student loan default rates in order to protect the financial strength and integrity of the program, and maintain the ability to obtain external program funding.
Agency Contact Person
Minnesota Office of Higher Education
1450 Energy Park Drive Suite 350
St. Paul, MN 55108