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STATE v. MINNESOTA SCHOOL OF BUSINESS, INC.

No. A16-0239.

885 N.W.2d 512 (2016)

STATE of Minnesota, Appellant, v. MINNESOTA SCHOOL OF BUSINESS, INC. d/b/a Minnesota School of Business, et al., Respondents.

Court of Appeals of Minnesota.

September 12, 2016.

Attorney(s) appearing for the Case

Lori Swanson , Attorney General, Alan I. Gilbert , Solicitor General, Kathryn I. Landrum , Assistant Attorney General, Adam H. Welle , Assistant Attorney General, St. Paul, MN, for appellant.

Joseph W. Anthony , Brooke D. Anthony , Daniel R. Hall , Amelia R. Selvig , Anthony Ostlund Baer & Louwagie P.A., Minneapolis, MN, for respondents.

Considered and decided by STAUBER, Presiding Judge; ROSS, Judge; and JOHNSON, Judge.

OPINION

This case involves two for-profit colleges that offer private educational loans to their students who cannot cover their tuition by other means. The state sued the schools, arguing that their loans, which carry interest rates as high as 18%, are usurious and that the schools are engaged in unlicensed lending in violation...

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