New Plan to Help Minnesotans Manage Student Loans

Program Aimed to Help Students Better Their Credit Score

A new program is available for Minnesota student loan borrowers who may by struggling to manage paying back their debt.

The Student Loan Counseling Grant will help Minnesotans receive the counseling they need to build a plan to get their student loan payments back on track, and to help them improve their credit scores while still paying back their loans.

“It will help them avoid default, which can wreak havoc on their credit and drop their score possibly even by 100 points,” said Elaina Johannessen, the Program Director at Lutheran Social Services.

There is no charge to borrowers who receive counseling through this program.