SFA - Michigan Guaranty Agency

Michigan Student Financial Aid: Paying for College

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The Michigan Guaranty Agency (MGA) administers the Federal Family Education
Loan Program (FFELP) which includes the Subsidized Federal Stafford Loan Program, the Unsubsidized Federal Stafford Loan Program, the Federal PLUS Loan Program, and the Federal Consolidation Loan Program. It does so by guaranteeing the purchase of defaulted loans from FFELP lenders across Michigan. During its more than 45-year history with FFELP, MGA has guaranteed over $14 billion in loans. Beginning July 1, 2010, no new loans are guaranteed under FFELP, however, MGA has over $3.1 billion in outstanding loans that must be monitored, claims processed, or default payments collected.

MGA also provides services to postsecondary institutions that include outreach activities aimed at postsecondary students, and other training opportunities. Services to borrowers are done through borrower information programs, financial literacy training, and customer assistance with all aspects of repayment.

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	Quick Links
•	Michigan Education Trust
•	Michigan Education Savings Program
•	Michigan Students First
•	Michigan Engineering Incentive
•	Michigan Advantage Consolidation Loan
•	MI-LOAN Program
•	MI Scholarships Online
•	Michigan Postsecondary Handbook
•	Tuition Incentive Program (TIP)