SAINT PAUL, Minn. – On Tuesday, Senator Tou Xiong (DFL-Maplewood) presented and testified in support of his bill to create a student loan advocate role in the Minnesota Department of Commerce. The bill, SF 998, funds the new office and outlines the duties of the advocate, who would help to resolve complaints from borrowers, provide information on borrowers’ rights and responsibilities, and make public reports and recommendations, among other responsibilities.
“The price of education at our two- and four-year colleges across Minnesota has risen dramatically in recent decades, and the burden is falling on borrowers,” Senator Xiong said. “Creating the student loan advocate role is a critical step in ensuring our students and recent graduates have the support they need to navigate the complex world of student loan debt.”
The bill has the support of Attorney General Keith Ellison and the Education Minnesota teachers union.
SF 998 was passed on a voice vote and referred to the Senate Higher Education Committee.