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Senate committee hears bill to boost state funding for student loan counseling
Summary
A Minnesota Senate committee heard testimony supporting an increase from $200,000 to $250,000 per year for a grant that funds student loan repayment counseling delivered by Lutheran Social Services; the bill was laid over for possible inclusion.
Senator Moon Rebaiting told the Minnesota Senate Committee on Higher Education on March 13 that Senate File 16-11 would increase the Office of Higher Education grant for student loan repayment counseling to $250,000 per year, up from the current $200,000 appropriation.
The measure would direct the extra funding to the Office of Higher Education’s existing grant program, which has awarded contracts through a competitive request-for-proposals process to Lutheran Social Services of Minnesota (LSS). "LSS Financial Counseling has been around for 35 years," Becky Bakarian, senior director of financial and employment services at Lutheran Social Services of Minnesota, told the committee. "After meeting with a student loan repayment counselor, borrowers have a better…
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