HB 6209 Summary

• Establishes the "Teachers Student Loan Forgiveness Act" to create a student loan forgiveness program administered by the Department of Education for eligible public school teachers in Michigan.

• Eligible teachers must hold a valid teaching certificate, be Michigan residents, have accepted or maintained employment at a public school, and have student loan debt from their first 4 years of a teacher education program.

• Awards monthly grants up to $300 per month to cover minimum required loan payments, reduced by amounts from other state or federal loan repayment programs the teacher receives.

• Creates the Teachers Student Loan Forgiveness Fund as a separate state treasury fund to be administered by the Department of Treasury; payments continue only while the teacher maintains eligible debt and works as a classroom teacher.

• Department may adjust grant amounts on a pro rata basis based on available funding and must establish application procedures and rules under the Administrative Procedures Act.