decorative banner image

Proposed Permanent Rules Relating to Higher Education Financial Assistance and Supplemental Student Loans


 

Minnesota Rules 4830.0150 to 4850.0017

Revisor's ID Number 4425

The Minnesota Office of Higher Education is proposing 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 proposed 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.

Hearing Canceled on Proposed SELF Rule Amendments:
In the August 27, 2018, State Register Volume 43, Number 9, on pages 207 to 212, the Minnesota Office of Higher Education published a Notice of Intent to Adopt Rules relating to Higher Education Financial Assistance and Supplemental Student Loans (SELF Loan program). The Notice stated that a hearing would be held on the proposed rules if 25 or more persons submitted written requests for a hearing. In response, the Office of Higher Education received 15 requests for a hearing. Consequently, the Office of Higher Education is canceling the hearing.

The Office of Higher Education will adopt the rules without a hearing and then submit the rules and other required documents to the Chief Administrative Law Judge for review by the Office of Administrative Hearings. The Office of Higher Education will consider all written comments when it adopts the rules.

Agency Contact Person

Marilyn Kosir
Minnesota Office of Higher Education
1450 Energy Park Drive Suite 350
St. Paul, MN 55108
651 355-0600
marilyn.kosir@state.mn.us

Documents