Tax Incentive from Rep. Schor Would Help Recent Grads Pay Off Student Loans

A new bill introduced by state Rep. Andy Schor (D-Lansing) would create a tax credit for recent graduates of Michigan universities who continue to live and work in Michigan after graduating from college. The plan would create a tax credit equal to 50 percent of a grad’s loan payments, and eligibility would continue for five years after graduation.

“We lose too many of our young people to jobs out of state, and we need to be doing more to encourage them to stay and start careers and families in Michigan,” Rep. Schor said. “My proposal would give them an incentive to put down roots in Michigan and become a part of our growing economy. I’m hopeful that this bill will soon be passed into law, so that this year’s graduates will have yet another reason to stay in Michigan.”

Read more about the plan here.

 

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