Low-interest student loan program (HELP) establishment and appropriation

This bill establishes Minnesota's HELP (Higher Education Loan Program) to provide low-interest student loans to eligible residents. It directly affects Minnesota residents attending public or nonprofit Minnesota colleges who earn under 300% of the federal poverty line, offering loans up to $5,000 annually (with a $20,000 lifetime limit) at a maximum 3% fixed interest rate. The program is funded by $17.5 million annually from the state general fund for fiscal years 2026-2027, with repayments recycled into a dedicated account to sustain the program. It requires the Office of Higher Education to administer the loans, including contracting for servicing.