Minn. R. agency 201, ch. 4850, pt. 4850.0020

Current through Register Vol. 49, No. 24, December 9, 2024

Part 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.

Minn. R. agency 201, ch. 4850, pt. 4850.0020

32 SR 2268

46 SR 542

Statutory Authority: MS s 136A.16