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Student Loan Advocate

Student Loan Advocate

The Student Loan Borrower Bill of Rights provides protections for Minnesotans who have student loans that are serviced by providers identified in the law.

What is required from student loan servicers and what can Commerce do?

  • Loan servicers must get a license from the Department of Commerce (subject to exemptions)
  • To ensure loan servicers are operating in a safe and sound manner, Commerce will conduct periodic examinations of each loan servicer 
  • Commerce will review consumer complaints about student loan servicers and conduct investigations into loan servicer practices that may violate various requirements of the law
  • Student Loan Borrower "Stress Less" Checklist (.pdf)

What is a student loan servicer? 

When you repay your student loans, your payments and billing are managed by a student loan service business (not the lender, such as the federal government). The loan servicer is also responsible to work with you on repayment options. 

What is a student loan advocate?  

As part of  Minnesota’s Student Loan Borrow Bill of Rights, the Student Loan Advocate works within the Minnesota Department of Commerce Enforcement Division to assist and protect student loan borrowers by helping them to resolve complaints about loan servicers related to student loans and repayment.

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