Representative Connie Bernardy (DFL-New Brighton), Chair of the Higher Education Finance and Policy Division, is the chief author of the bill. The legislation approved today will give the Office of Higher Education (OHE) the authority to release Argosy students from liability for any Minnesota SELF student loans for the spring 2019 semester, and pay them directly for other state financial aid.
“I’m pleased we were able to come together on a bipartisan, bicameral level to deliver this financial relief to Argosy students who were working hard to earn a degree,” Rep. Bernardy remarked.
Current state statute requires OHE to disburse student aid funds directly to the college, which uses the funds to pay tuition and fees before sending the remaining credit balance directly to the student. In the case of Argosy, the entire amount of student aid was kept by the college, leaving students and their families short by thousands of dollars. In the same manner, SELF Loan funding was not disbursed to students, but until this bill was passed, students were still required to pay those loans back.
Governor Walz is expected to sign the bill into law once the Minnesota Senate approves its version of the legislation. Minnesota Office of Higher Education Commissioner Dennis Olson said that students will be contacted once the legislation is signed by the Governor.