Minnesota Administrative Rules

4850.0020 LOAN FORGIVENESS.

Subpart 1.

Death of borrower or cosigner.

A.

The obligation of the borrower and the cosigner to repay a SELF Loan is forgiven upon the death of the borrower.

B.

The obligation of the cosigner to repay a loan is forgiven upon the death of the cosigner.

Subp. 2.

Total and permanent disability.

A.

The obligation of the borrower and the cosigner to repay a SELF Loan is forgiven upon the office:

(1)

receiving and approving a certification under part 4850.0027, subpart 2; and

(2)

verifying that the total and permanent disability of the borrower occurred after the loan was fully disbursed.

B.

The obligation of the cosigner to repay a SELF Loan is forgiven upon the office:

(1)

receiving and approving a certification under part 4850.0027, subpart 2; and

(2)

verifying that the total and permanent disability of the cosigner occurred after the loan was fully disbursed.

C.

The forgiveness is effective the date the total and permanent disability documentation is approved by the office.

Statutory Authority:

MS s 136A.16

History:

32 SR 2268; 46 SR 542

Published Electronically:

October 26, 2021