MN HF2546

Increases the maximum outstanding student and parent loans that can be refinanced from $100,000,000 to $150,000,000.

Requires the commissioner to refinance loans for borrowers facing emergency circumstances, including death, long-term disability, or permanent disability of the borrower, borrower's spouse, or child of a parent loan holder.

Allows the commissioner to offer alternative payment plans to borrowers refinancing under emergency circumstances, including temporary cessation of payments, income contingent repayments, or extended repayment terms.

Grants the commissioner authority to cancel part or all of a loan balance for good cause for borrowers refinancing under emergency circumstances.

Maintains the maximum individual loan limit of $70,000 and allows the office to establish credit requirements and determine eligible loan types for standard refinancing.