LANSING, Mich. (Michigan News Source) – Ahead of a U.S. Supreme Court (SCOTUS) decision regarding President Joe Biden’s student loan forgiveness edict, Governor Gretchen Whitmer signed an executive directive she said will lower costs and reduce the “student loan burden for Michiganders.”
The SCOTUS decision is expected in June.
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In a press release, Whitmer said she is “instructing State of Michigan departments to assess the costs and benefits of the state re-entering the market as a student loan originator, determine enhancements to protect borrowers, improve educational materials, and consider any additional measures to support borrowers.”
In addition, Whitmer said the Michigan Department of Treasury is looking at the benefits of the State of Michigan restarting as a student loan originator. That includes the possibility of permitting Michigan borrowers to access lower interest rates and enable borrowing by underserved communities. It also will look into the effects of allowing Michiganders to refinance their current loans with the state.
Her directive can be viewed here.
SCOTUS will determine whether President Joe Biden’s plan to forgive up to $20,000 of student loan debt per borrower is legal. Several states have challenged its constitutionality, and it has been on hold since last fall.
This is not the first time Gov. Whitmer has tried to shore up her position prior to a SCOTUS ruling. In April 2022, she sued 13 county prosecutors with jurisdictions over abortion clinics in order to protect abortion. She did this to prevent a 1931 abortion ban punishing doctors and medical staff for performing abortions from taking place.
The law has since been stricken from the books and abortion rights enshrined in the state constitution.
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