Michigan Students First loan program puts students 2nd
Because of a lack of funding from the federal government, about 80,000 students with the Michigan Students First, or MSF, loan program could be responsible for paying more for college than they originally signed up for. Established in 2003, the program offered students the ability to pay zero-percent interest on their student loans if they made 36 timely consecutive payments every month. Now that funding for the program was cut last week, students who were on pace, but hadn’t completed, the 36 payments are liable to pay full interest for the balance of the loan.