Student Loan Borrower Bill of Rights | Educating for the Future Report | New Podcast Episodes

Having trouble viewing this email? View it as a Web page.

 
 
Minnesota Office of Higher Education
 
BIll of Rights

EVERY FIFTEEN DAYS
Updates From the Office of Higher Education Twice a Month

 

Minnesota Student Loan Borrowers Are Now More Protected

This summer Governor Walz signed into law a Student Loan Borrower Bill of Rights that includes a new licensing requirement for certain entities that service student loans. The new bill offers protections for Minnesotans who have student loans that are serviced by providers identified in the law. This fall, the Office of Higher Education Commissioner Dennis Olson, along with other state leaders, visited St. Cloud Technical and Community College to announce the roll out of the new bill.

This new bill protects student borrowers in a couple ways. It prevents student loan service providers from attempting to mislead a borrower, and attempts to stop unfair, deceptive, or misrepresented information related to the loan servicing. Among other protections, the bill also requires student loan servicers to confirm how borrowers would like to have an overpayment applied, apply partial payments in a way to minimize late fees or negative impact on a borrower’s credit history, and prior to placing a borrower in default, the loan servicer must evaluate a borrower for eligibility for an income-driven repayment program. With this bill Minnesota students loan borrower are more protected.

 
Learn More    

 

How is Minnesota Doing on the Education Attainment Goal? New Report Gives Updates

With the vast majority of jobs across the nation requiring a post-high school education or training, in 2015 the Minnesota State Legislature set an educational attainment goal to have 70 percent of Minnesotans, ages 25 to 44, earn a postsecondary certificate or higher by 2025. In recognition of existing gaps in attainment, the State also set educational attainment benchmarks for each race and ethnicity.

Current estimates show that the State has closed the gap from 57.7% in 2015 to 62.5% in 2021. In order to reach the 70% educational attainment goal, Minnesota will need an additional 108,500 persons, ages 25-44, to earn their postsecondary credentials. The latest Educating for The Future report offers a detail account on the hidden disparities that prevail among races and ethnicities in Minnesota.

 
Learn More

 

Don't Miss Out on New Podcast Episodes

The 15th and 16th episodes of our podcast, Life After Now, have been released — don't miss out on them! In episode 15, Liz Bolsoni talks to Dan-neya Yancey about her experience finding a sense of belonging on campus while maintaining her identity and getting college credit in high school. And in episode 16, Liz chats with Rahje Branch about fighting oppressive systems through education.

Listen on: Apple, Spotify, Google, Stitcher, Anchor, Breaker, and Pocket Casts. Subscribe and share!

Ep. 15
Ep. 15 2

Ep. 16
Ep. 16

   
 
Minnesota Office of Higher Education
1450 Energy Park Drive, Suite 350
St. Paul, MN 55108-5227
 
 
Minnesota Office of Higher Education
 
 
CONNECT WITH US
Facebook Instagram Twitter LinkedIn