News

Could A Student Loan Tax Break Stop "Brain Drain"?

June 12, 2013

Photo Courtesy of the Observer & Eccentric

“Unfortunately, one of the largest exports from Michigan is our educated young college graduates. We have to stop being the state that educates the workforce for other states.”

—State Senator Glenn Anderson

New college graduates are looking for jobs this summer, but how many of them are planning to stay in Michigan? For decades, the state has suffered from “brain drain”--new grads leaving to cast their fortunes somewhere else. Politicians haven’t found an effective way to stop the exodus, but one lawmaker has an idea that might help—a tax break grads can use to write off part of their student loans. Westland State Senator Glenn Anderson sponsored the legislation. WDET's Pat Batcheller asked Sen. Anderson how his bill would help new grads manage their student loan debt. Click on the audio link above to hear the conversation.

Read more about SB 408 here

Photo Courtesy of the Observer & Eccentric