In anticipation of a decision by the U.S. Supreme Court, Governor Gretchen Whitmer signed an executive directive, which may result in Michigan becoming a student loan originator.
Key Points:
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- Departments are directed to assess the costs and benefits of the state re-entering the market as a student loan originator.
- Determine if this would result in access to lower interest rates and enable borrowing in underserved communities.
- They will determine enhancements to protect and support borrowers.
- Review current regulations to determine what improvements are needed.
To read the full executive directive, please click here.
