The Michigan Higher Education Student Loan Authority (MHESLA) offers some of the best borrower benefits found anywhere in the country. Learn more about MHESLA's unique borrower benefits listed below:

Electronic Payment Savings: Electronic Payment Savings provides borrowers with an option for automated loan payments and an interest rate reduction of 1/4 of 1% (0.25) on all Federal Family Education Loan Program loans and MI-LOAN Program alternative student loans. Learn more >

Michigan Students First: This incredible borrower benefit offers a 0% interest rate on Federal Stafford and PLUS Loans after 36 months of on-time payments, as well as either payment or reimbursement of the federal origination fee and a PLUS loan 7.9% reduced interest rate. Learn more >

Michigan Engineering Incentive: The Michigan Engineering Incentive offers student borrowers in their 3rd, 4th or 5th years of a qualified engineering or technology major a 0% interest rate on Federal Stafford Loans, plus either payment or reimbursement of the federal origination fee. Learn more >

Michigan Advantage Consolidation: Michigan Advantage Consolidation offers borrowers the ability to consolidate all of their eligible outstanding federal loans into one single loan with benefits such as a 1% reduction in the interest rate on consolidation loans of $7,500 or more. Learn more >

• Warning: By consolidating, borrowers will lose any current borrower benefits they may have on their federal student loans.

*All borrower benefits are subject to available funding.