michigan finance authority

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A push for change in Michigan term limits

There are efforts underway to change Michigan’s term limits amendment. Representative Joe Havemen (R-Holland) says the current lifetime limit of six years to serve in the House and eight years in the Senate are too short and consequently, legislators are lacking experience. Term limits were approved by Michigan voters ten years ago, and changing that amendment would also require voter approval.

Town hall to be held for road repairs

Lawmakers are expected to discuss how to pay for improvements to the state’s roadways at a town hall meeting tonight in Grand Rapids. Michigan Radio’s Lindsey Smith reports, "the public will get a chance to weigh in on Governor Snyder’s proposal to raise more than a billion dollars a year. Snyder wants to raise vehicle registration fees and the gas tax to cover the costs, but the Legislature passed a budget last week that only included a fraction of the money he wanted."

Michigan faces class action lawsuit from students

The state of Michigan may be facing a class action lawsuit over a student loan program. Starting in 2003 the Michigan Students First program provided a subsidy to people after they paid their first 36 loan payments on time, but that subsidy ended in 2010. Attorney Jeff Hank says that left thousands of Michiganders with much more to pay on their student loans. Michigan Radio's Steve Carmody reports that the lawsuit could end up costing the state hundreds of millions of dollars.

Steve Carmody/Michigan Radio

The state of Michigan is facing a potential class action lawsuit over a student loan program.

Beginning in 2003, the Michigan Students First loan program offered college students an interest rate subsidy after their first 36 on-time loan payments, effectively reducing their interest rate to zero.

But in 2010, the subsidy was ended.

Attorney Jeff Hank says that left thousands of Michigan college students having to pay more in student loans than they had originally planned.