(a) Except as provided in paragraphs (b) and (c), data on applicants for financial assistance collected and used by the Minnesota Office of Higher Education for student financial aid programs administered by that office are private data on individuals as defined in section 13.02, subdivision 12.
(b) Data on applicants may be disclosed to the commissioner of human services to the extent necessary to determine eligibility under section 136A.121, subdivision 2, clause (5).
(c) The following data collected in the Minnesota supplemental loan program under section 136A.1701 may be disclosed to a consumer credit reporting agency only if the borrower and the cosigner give informed consent, according to section 13.05, subdivision 4, at the time of application for a loan:
(1) the lender-assigned borrower identification number;
(2) the name and address of borrower;
(3) the name and address of cosigner;
(4) the date the account is opened;
(5) the outstanding account balance;
(6) the dollar amount past due;
(7) the number of payments past due;
(8) the number of late payments in previous 12 months;
(9) the type of account;
(10) the responsibility for the account; and
(11) the status or remarks code.