Business & Economy
Student loan tax credits could keep graduates in Michigan, bill sponsor says
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By JOSH THALL
Capital News Service
LANSING — A bill to provide tuition tax credits for people paying off student loans is designed to keep young graduates in Michigan, but not everyone is convinced the plan will work. Sen. Curtis Hertel Jr., an East Lansing Democrat, has introduced a bill to ease college graduates’ loan burdens for up to five years after graduation if they live and work in Michigan. The bill would give qualifying graduates a tax credit up to 50 percent of the amount paid on student loans — up to $2,150 for an individual, and $4,300 for a married couple per year. “The governor has talked a lot about talent retention,” Hertel said. “I sat down with some of our major universities, and one of the issues we have is the overwhelming number of students that are leaving the state, and not moving into our state.