Higher Education Project Finance

The Michigan Finance Authority provides higher education with access to effective, low-cost capital financing to all institutions of higher education.

Eligible Projects

Eligible projects include:

• Academic Buildings and Classrooms
• Athletic Facilities
• Capital Equipment and Furnishings
• Dining Halls and Cafeterias
• Faculty and Administrative Offices
• Health Care Facilities
• Laboratory and Research Facilities
• Libraries
• Parking
• Public Safety Facilities
• Residence Halls and Housing Complexes
• Storage and Maintenance Facilities
• Student Unions

Excludes facilities for the following:

• Divinity/Religious Denomination Programs
• Religious Worship
• Sectarian Instruction
• Items normally considered as a current operating expense or working capital, including books, fuel, and supplies

Eligible costs associated with the projects include:

• Plans, Studies, and Surveys
• Architectural and Engineering
• Legal and Financing
• Acquisition and Site Development
• Construction and Remodeling Costs
• Interest Capitalized During Construction

Program Information

• MFA Credit Criteria

• Fees

• Higher Education Facilities Authority (P.A. 295 of 1969)

• State Higher Education Facilities Commission (P.A. 233 of 1964)

Please contact MFA for detailed information.

Michigan Finance Authority

Austin Building, 1st Floor
430 W. Allegan
Lansing, MI 48922

Phone: 517-335-0994

Fax: 517-241-9509

www.michigan.gov/mfa
TreasMFA@michigan.gov