The Minnesota Office of Higher Education (MOHE) will help first-time student loan borrowers gain the necessary skills to complete their higher education and achieve their professional goals.
MOHE will collaborate with national nonprofit InsideTrack to provide dedicated coaches who will work with borrowers enrolled in SELF — Minnesota’s low-interest educational loan program.
Research shows more than 35 million Americans, including half a million Minnesota residents, have earned some college credit but not completed a degree. A majority of these people have been unable to finish their studies because of financial hardship and student loan debt that can be difficult to repay without a college degree.
“To unlock the full economic and financial potential of these important higher education investments, it’s critical that we match our commitment to college access with a similar dedication to college success and completion,” MOHE Commissioner Dennis Olson said in a press release. “This work is about providing first-time student loan borrowers with the support they need to obtain a credential, changing their educational and career trajectories for years to come.”
What’s in It for Students
To improve career outcomes, SELF loan borrowers will receive one-on-one support from professionally trained success coaches.
The service will be provided through no-cost virtual sessions. For nine months, students will work with their respective coaches to set educational goals, develop a plan to achieve those goals, and navigate the challenges as they work toward earning a college degree.
InsideTrack’s analysts and experts will update MOHE regarding any challenges students face on the road to college completion. They will also identify ways in which colleges can expand support for students to graduate.
“This work is about backstopping the financial investments that students make in higher education by providing them with the wrap-around support they need to stay on track to graduate,” president of InsideTrack, Ruth Bauer White, said.