A school must return the loan proceeds to the office if the student fails to enroll within 30 days after the student was scheduled to enroll.
If the student fails to complete the loan period at the school where the loan application was certified and transfers to another eligible school, any remaining scheduled disbursements must be canceled. The school must immediately notify the commissioner of any borrower who withdraws for any purpose. The student may apply for any remaining loan eligibility at the other eligible school, assuming the amount approved is at least $500.
If a borrower, for any reason, fails to complete a loan period, withdraws, and the school calculates a SELF refund for the borrower, that refund must be returned to the office for the SELF Loan program within 30 days of the date the school becomes aware of the withdrawal. A school must calculate a refund according to the office's SELF Loan Program Manual, May 2019, and as subsequently amended, which is incorporated by reference, is not subject to frequent change, and is available online at the office's website.
The school shall notify the commissioner immediately when a student reduces enrollment below a half-time status, but remains enrolled.
10 SR 1852; 13 SR 128; 15 SR 1780; L 1995 c 212 art 3 s 59; 20 SR 2214; 26 SR 1333; 35 SR 1092; L 2013 c 99 art 2 s 29; 46 SR 542
October 26, 2021
Official Publication of the State of Minnesota
Revisor of Statutes