© 2021 MICHIGAN RADIO
91.7 Ann Arbor/Detroit 104.1 Grand Rapids 91.3 Port Huron 89.7 Lansing 91.1 Flint
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations
Criminal Justice & Legal System

Student loan payments may be tax credits

Andy Schor.jpg

Student loan payments may be applied as tax credits if a new bill in Lansing becomes law. Democratic State Representative Andy Schor is sponsoring the legislation. 

He says “it’s the start of keeping that talent here and reversing the brain drain as we create some of the places where they want to be.”

Schor continued, “they get to take that credit on their taxes, if they’re graduated from a Michigan university or college and if they’re here in the state working.”

He added the tax credit would equal half of a student's annual loan payment and it would include degree programs at colleges, universities, community colleges and junior colleges throughout Michigan.

Schor says the idea came from a similar program in Maine.

- Chris Zollars, Michigan Radio Newsroom