MI SB0167

Appropriates $2.41 billion for Michigan higher education for fiscal year 2025-2026, including $1.79 billion for 15 public universities' operations with 3% increases tied to tuition restraint compliance (tuition increases capped at 4.5% or $735 for 2025-2026, reduced to 3.5% or $570 for 2026-2027)

Allocates $345 million for Michigan Achievement Scholarships providing up to $5,500 for eligible students at public universities and independent colleges, and covering tuition plus $1,000 for community college students who are Pell-eligible

Creates new $15 million Michigan Student Loan Refinance Program allowing residents with student loans to refinance between $5,000-$50,000 at fixed state-set rates if they've been current on payments for 3 years

Provides $33.4 million for university infrastructure, technology, equipment, maintenance, and safety grants, with 50% distributed to universities that did not receive capital outlay authorizations between January 2023 and October 2025

Requires universities serving as charter school authorizing bodies to limit administrative fees to 1% of total state school aid received by their authorized schools, with excess amounts deducted from the university's state payments