HF3354 Summary

• Reduces higher education appropriations by $53,283,000 total across fiscal years 2010-2011, distributed to the Minnesota Office of Higher Education ($6,696,000), Board of Trustees of Minnesota State Colleges and Universities ($10,467,000), and Board of Regents of University of Minnesota ($36,120,000).

• Modifies student grant eligibility to limit eight semesters of undergraduate study and establishes scholarship award amounts equal to maximum assigned student responsibility minus assigned family responsibility, multiplied by 0.50, with minimum $1,200 per academic year.

• Increases SELF loan limits for undergraduate students to $7,500 per grade level (up to $37,500 cumulative) and graduate students to $10,000 per nine-month academic year (up to $70,000 cumulative), with extended repayment periods up to 20 years depending on loan balance.

• Establishes new registration fees for private postsecondary schools ranging from $2,000-$3,500 for initial licensure by degree level, plus additional fees for programs and degree modifications, with annual renewal fees of $1,150-$1,200 and late fees up to $3,000.

• Repeals previous grant eligibility provisions and establishes technical college emergency grants of $150,000 annually to assist students experiencing economic hardship.