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Minnesota officials warn HR1 and Education Department rule changes will squeeze borrowers and skew graduate enrollment
Summary
State higher‑education officials and university finance officers told a Minnesota Senate subcommittee on Nov. 10 that federal changes to student loan policy and program eligibility could reduce borrowing options, lengthen repayment, and push some students to private lenders with much higher interest rates.
State higher‑education officials and university finance officers told a Minnesota Senate subcommittee on Nov. 10 that federal changes to student loan policy and program eligibility could reduce borrowing options, lengthen repayment, and push some students to private lenders with much higher interest rates.
Dr. Wendy Robinson, assistant commissioner at the Minnesota Office of Higher Education, summarized recent federal changes and timelines: certain revisions to the Public Service Loan Forgiveness program will take effect July 1, 2026, and guidance could exclude borrowers whose employers are deemed to have a "substantial illegal purpose." She also outlined the reconciliation legislation (the…
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