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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