College Financing Literacy Act
Minnesota statute 136A.0901, also known as the College Financing Literacy Act (CFLA), was enacted by the Legislature in the 2025 session. This act requires that the Commissioner of the Office of Higher Education (OHE) to develop standard terminology and financial aid offer forms. As part of this act, standard financial aid forms may be developed for the following populations:
- Undergraduate students
- Graduate students
- First-time students
- Returning students
As part of CFLA, institutions are required to use the standard terminology and definitions provided by OHE in all financial aid communications. Upon implementation, all institutions must also use the standard templates provided by OHE for all official and unofficial financial aid offers.
CFLA is designed to help students and families make more informed college choices and to better understand the immediate and long-term costs of obtaining their college degree.
Institutions must begin using the standard terminology and aid offer letters for the 2028-2029 academic year.
A draft of the standard letter templates and list of standard terminology and definitions will be made available no later than September 1, 2026, for review and feedback. Final versions of the financial aid offer forms and standard terminology, and definitions will be made available in early 2027 to allow institutions time to implement prior to sending out award notifications for the 2028-2029 academic year.
Preliminary stakeholder consultation began in August 2025 and will continue through Summer 2026. Check back for upcoming opportunities for stakeholder consultation.
Minnesota statute 136A.0901, also known as the College Financing Literacy Act (CFLA), was enacted by the Legislature in the 2025 session. This Act requires that the Commissioner of the Office of Higher Education (OHE) develops standard terminology and financial aid offer forms. As part of this legislation, standard financial aid forms may be developed for the following populations:
- Undergraduate students
- Graduate students
- First-time students
- Returning students
Institutions will be required to use the standard terminology and definitions provided by OHE in all financial aid communications. Upon implementation, all institutions must also use the standard templates provided by OHE for all official and unofficial financial aid offers.
The CFLA is designed to:
- Ensure students and families can make “apples to apples” comparisons of their financial aid offers from multiple institutions so they can more easily understand both the immediate and long-term financial impact of their college choice.
- Ensure that all Minnesota students get consistent, plain language information about their financial aid options.
- Ensure all Minnesota students understand their student loan borrowing options, including the availability of federal, state, and private loans.
- Ensure students and families have clarity about their out-of-pocket expenses, the difference between billed and non-billed expenses, and about the renewability of any institutional aid offered.
OHE will publish draft versions of the standard financial aid forms to the OHE website by September 1, 2026, for stakeholder review and comment. The final versions of all forms will be available in early 2027.
Institutions must begin using the standard terms and definitions and standard financial aid offer forms for offers and communications for the 2028-2029 academic year.
Yes. The legislation requires that OHE “consult with and consider the recommendations of stakeholders, including the student loan advocate in the Department of Commerce, representatives of students, institutions of higher education, financial aid administrators and counselors, school counselors, and any other relevant stakeholders as determined by the commissioner”.
OHE began the consultation process in August 2025 and will offer multiple opportunities for additional consultation throughout spring and summer 2026.
The standard terms and definitions established by OHE will apply to all communications from institutions related to financial aid. The financial aid offer notice templates must be used for any official or unofficial offers including paper, mobile-optimized, or other electronic offers.
The provisions of the CFLA apply to any institutions of higher education that participate in the State Grant program.
Yes, if the institution participates in the State Grant program for undergraduate students and also offers graduate programs.
Institutions will be allowed to customize the form with their institutional logo, branding, or other identifiers as long as the customization does not alter the form or the way information is ordered, presented, or explained on the form.
Yes. In consultation with stakeholders, OHE will create a list of standard terms and definitions. A draft of this will be posted to the OHE website by Sept.1, 2026 and a final version the list will be released with the final version of the standard financial aid offer forms.
Yes. Institutions may add supplemental information along with their financial aid offer notice and other communications. Supplemental information may not be added to the standard form. Supplemental information must use the same standard terminology developed by OHE.
Yes. Institutions may omit a required item on an individual’s offer form if that item is not applicable to that student.
No. The CFLA does not require institutions to provide printed financial aid offer notices if they are not already doing so. Institutions that currently provide printed financial aid communications can continue doing so if they wish. However, if institutions do provide printed financial aid offer notices, they must use the standard financial aid form. All financial aid communications, print or otherwise, must use the standard terms and definitions.
The Commissioner of the Office of Higher Education, following stakeholder engagement and consultation.
The Commissioner of the Office of Higher Education. Stakeholders may consult with OHE through the Financial Aid Advisory Committee if there are questions, concerns, or corrections to the statutory language that would add additional clarity.
The College Financing Literacy Act (CFLA) is specifically related to the aid offer, whereas schools that follow the Principles of Excellence Program commit to additional guidelines that are broader in scope. For example, the Principles of Excellence Program requires guidelines that touch on, refund policies and graduation requirements. There is some overlap between the Principles of Excellence and the CFLA; however, the CFLA has several more requirements than the Principles of Excellence.
In the event of federal legislation that implements a required standard financial aid offer notice or template, the federal legislation will supersede Minnesota’s CFLA. In that event, OHE will discontinue the work on implementing the CFLA.