Recent federal changes under the One Big Beautiful Bill (OBBB) limit how much families can borrow through Parent PLUS loans, restrict available repayment plans, and reduce access to forgiveness programs like PSLF. Current Parent PLUS borrowers can keep access to income‑driven repayment and potential loan forgiveness by consolidating into a federal Direct Consolidation Loan before the new rules take effect on July 1, 2026.
The terms for different student loan programs, including amount, interest rate and repayment terms can vary greatly from program to program. It is important to be an educated borrower and review the terms of each program prior to accepting any loan funds. Federal student loans are administered through one of two federal loan programs - the Federal Direct Loan Program or the Federal Family Education Loan Program (FFELP). As of July 1, 2010, no new loans are available through FFELP.
Paying for education after High School is a lifelong investment in achieving life's goals. Getting there may require the assistance of resources including the Federal and State Governments, private financial institutions, family contributions and individual savings.
There are several student loan servicers in Michigan making it difficult to keep track of them all.
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The Teacher Loan Forgiveness Program is intended to encourage individuals to enter and continue in the teaching profession. Wondering whether you can get your federal student loans forgiven for your service as a teacher?
The State Loan Repayment Program helps employers recruit and retain primary medical, dental, and mental healthcare providers by providing loan repayment to those entering into service obligations.
Recipients of the Michigan Nursing Scholarship who had their scholarship reverted to a loan because they did not fulfill the enrollment or work commitment can now make payments online.
Paying online is quick, easy, secure and available to you 24 hours a day, seven days a week.
