Rep. Andy Schor Plan Encourages College Grads to Stay in Michigan

Bill creates a five-year tax credit if student stays in Michigan after graduation
Wednesday, March 22, 2017

LANSING — State Rep. Andy Schor (D-Lansing) has introduced House Bill 4409, which would give recent college graduates an incentive to stay and work in Michigan following graduation. The plan would reduce the “brain drain” out of our state and help students saddled with expensive student loans get on their feet while starting a career in Michigan.

“Having a talented, well-educated work force will draw business investment to our state, but Michigan sees far too many of its brightest young people leave our state to find work elsewhere,” Rep. Schor said. “My bill would create a tax credit to offset the cost of repaying student loans if the graduate continues to live and work in Michigan following graduation.”

Rep. Schor’s proposal would create an income tax credit equal to 50 percent of the amount of qualified student loan payments made during the tax year for which the credit is being claimed. Former students would be eligible to claim the tax credit for five years following graduation.

“We lose too many of our young people to jobs out of state, and we need to be doing more to encourage them to stay and start careers and families in Michigan,” Rep. Schor said. “My proposal would give them an incentive to put down roots in Michigan and become a part of our growing economy. I’m hopeful that this bill will soon be passed into law, so that this year’s graduates will have yet another reason to stay in Michigan.”