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MN SF249

Bill

Official Source

Status

Introduced

1/12/2023

Primary Sponsor

Rich Draheim

Click for details

Origin

Senate

93rd Legislature 2023-2024

AI Summary

  • Amends Minnesota Statutes 2022, section 136A.1701, subdivision 6, to cap interest rates on higher education loans at three percent for both variable and fixed loans.
  • Removes the exemption that previously allowed higher education loan interest rates to be excluded from state laws limiting interest rates on loans.
  • Applies the three percent interest rate cap to all higher education loans administered under the specified statute.

Legislative Description

Higher education loan program interest rate capping establishment

Last Action

Referred to Higher Education

1/12/2023

Committee Referrals

Higher Education1/12/2023

Full Bill Text

No bill text available