MI HB6266

Requires Michigan public universities and community colleges to provide annual student loan disclosures to enrolled students by July 1 of each academic year, beginning with the 2022-2023 academic year.

Institutions must disclose the total amount of federal and other student loans disbursed to the student, estimated total payoff amount if loans entered repayment, the repayment term in years, and information on accessing online repayment calculators.

Disclosures may be provided via first-class mail, email, online portal, or other communication methods established by the institution.

Allows institutions to include disclaimers that estimates are general in nature and not guaranteed, and that information pertains only to loans disbursed by that institution.

Permits institutions to contract with student loan servicers to provide the required disclosures and shields institutions from liability for representations made under this act.