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college loans

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Michigan college grads are borrowing 42% more on average than they were 10 years ago. Today, your average Michigan student with school loans has about $31,000 in debt, compared to roughly $21,600 a decade earlier.

pile of one dollar bills
Steve Carmody / Michigan Radio

More than 460 Michigan college students who say they have been defrauded by their for-profit schools filed federal claims this year to try to get their student loans forgiven. But the Trump administration has not approved any so-called borrower defense claims yet.

steve carmody / Michigan Radio

A college education is getting more expensive in the state of Michigan.

Last month, many Michigan colleges and universities approved tuition increases for this fall.  And starting today, interest rates on federally backed student loans are rising too.  

Interest rates on loans for undergrads are rising from 3.76% to 4.45%.   Overtime, that increase will add hundreds, if not thousands of dollars, to the cost of getting a degree.