Providing individual student loan repayment counseling to borrowers who are Minnesota residents.
The Office of Higher Education administers the Student Loan Debt Counseling Grant Program to support a Minnesota-based nonprofit qualified debt counseling organization to provide individual student loan debt repayment counseling to borrowers who are Minnesota residents concerning loans obtained to attend a postsecondary institution. The number of individuals receiving counseling may be limited to those capable of being served with available appropriations for that purpose. A goal of the counseling program is to provide two counseling sessions to at least 75 percent of borrowers receiving counseling.
The purpose of the counseling is to assist borrowers to:
A qualified debt counseling organization is an organization that:
The 2019 Minnesota Legislature allocated $200,000 per year in the 2020 - 2021 biennium to be granted out to eligible Minnesota-based nonprofit qualified debt counseling organizations.
The Minnesota Office of Higher Education welcomes all eligible applicants to apply for Fiscal Year (FY) 2020 - 2021 funding.
RFP posted on the Office of Higher Education web site November 20, 2019
Questions due no later than 4:30 pm Central Time December 16, 2019
Applications due no later than 4:30 pm Central time January 6, 2020
Student Loan Debt Counseling Grant Program RFP
If you have any questions regarding the RFP process, please contact Maya Beecham (Maya.beecham@state.mn.us).
The program awards grants to Minnesota-based nonprofit qualified debt counseling organizations that provide individual student loan debt repayment counseling to borrowers who are Minnesota residents concerning loans obtained to attend a postsecondary institution.
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