Bill
Bill > HF583
MN HF583
Student loan refinancing program eligibility expanded, and money appropriated.
summary
Introduced
01/31/2019
01/31/2019
In Committee
01/31/2019
01/31/2019
Crossed Over
Passed
Dead
05/17/2020
05/17/2020
Introduced Session
91st Legislature 2019-2020
Bill Summary
Student loan refinancing program eligibility expanded, and money appropriated.
AI Summary
This bill expands eligibility for the student loan refinancing program administered by the Office of Higher Education. The bill increases the maximum amount of outstanding loans that can be refinanced from $100 million to $125 million and creates a higher education bad debt reserve account to be used to expand eligibility for the program, such as by reducing credit score and debt-to-income requirements. The bill also appropriates $5 million in fiscal year 2020 and $5 million in fiscal year 2021 from the general fund to the bad debt reserve account to support the expanded eligibility.
Committee Categories
Budget and Finance, Education
Sponsors (6)
John Huot (D)*,
Robert Bierman (D),
Todd Lippert (D),
Jamie Long (D),
Laurie Pryor (D),
Dan Wolgamott (D),
Last Action
House Higher Education Finance and Policy Division (14:30 2/19/2020 10 State Office Building) (on 02/19/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF0583&ssn=0&y=2019 |
| BillText | https://www.revisor.mn.gov/bills/text.php?number=HF583&version=0&session=ls91&session_year=2019&session_number=0&format=pdf |
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