DETROIT (Michigan News Source) – Despite having a loan balance of $401.1 million, the Detroit Public Schools Community District is planning to borrow again from a state of Michigan fund that is available to all districts to borrow to pay off other debt.

The School Loan Revolving Fund makes loans to school districts to help with making debt service payments on state qualified bonds issued under the School Bond Qualification and Loan Program.

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Detroit Public Schools Community District has borrowed from it every year since 2011 and is planning to borrow $55 million in 2026 from the fund. The district said it needs that loan to ensure all of its bond payments are completed on time.

Since 2011, Detroit Public Schools Community District has borrowed $932.5 million from the fund.

Detroit Public Schools Community District projects that it will have fully repaid its existing capital debt by 2039.