The new Michigan Department of Education (ED) budget proposal is expected to include an increase in the cost of attending college.
The budget includes a $2.8 billion increase in tuition and fees for students from families with incomes below $75,000.
That would rise from $9,921 to $11,087 for Michigan students, and $13,721 to the average family income of $72,000, according to the state.
Michigan’s tuition and fee hikes are expected to increase costs for students at the bottom of the income scale.
Michigan Governor Rick Snyder signed a bill in February that requires schools to raise tuition by 1.9 percent for the next two years, and the proposal will also increase tuition and student fees for some students.
In 2017, the state increased tuition by 3.9 percentage points.
According to a Michigan State University (MSU) report, students from low-income families pay the most for tuition in the state, with students in families earning between $70,000 and $100,000 paying $6,959 per year in tuition.
That number has increased since the state began collecting data on students with incomes above $75-million.
Michigan has a student debt crisis, with nearly 60,000 Michigan students with $100-million of debt owing, according the University of Michigan.
The new governor’s budget proposes to increase tuition by $5,744 per student.
However, the number of Michigan students receiving loans is expected in the new budget to increase by 3 percent, and students will not be allowed to borrow more than $25,000 in their first three years of attending school.
Michigan will also take a one-time $25 million cut to the State Colleges Emergency Fund, a program that provides financial aid to students with financial emergencies.
According the Michigan Senate, the State College Emergency Fund was set up in 2014 to help students who need aid after a school or college closes.
The state was supposed to raise $7.2 million for the fund, but the cuts were not included in the budget, and will now be a one time amount.
In March, Michigan State Police (MSSP) announced that a $500,000 loan was available to students in the emergency fund to help pay for college.
In a press release, MSSP Director John B. Williams said that the $500 million loan is part of a larger $2 billion emergency funding package that will go into effect in July.
According a recent report by the American Association of University Professors, the average cost of a year of college for Michigan is $36,927.
The number of students with student loans has risen significantly since the introduction of the Michigan tuition increase.
In the past, the cost for attending college for students with a bachelor’s degree was $8,979 per year, and for students who had a high school diploma, the figure was $18,567 per year.
According Michigan State’s report, the student debt bubble has become so large that the average debt load for students in Michigan has increased by more than 5.5 percent since 2012.
The American Association for University Professes’ report found that student loan debt has increased in the last decade, and that nearly $50 billion in loans have been issued since 2011.
This year, the federal government has estimated that about 2.5 million students will be borrowing more than they can afford for college this year.
The Michigan budget will also include a plan to cut the number from 1,000 to 200 students in each state.
In February, the governor proposed that the state would reduce the number by half for the coming fiscal year, from 2,000 students to 300 students, according The Detroit News.
The plan would also lower the number for Michigan from 1.5 to 800 students.
However the budget is still projected to increase the number, according Michigan State.
MSSP said that if the state cuts more than 1,300 students in 2018, it will lose $8.5 billion in funding.
MSPS report noted that this would be in addition to the cuts that the governor is expected.
As of May, Michigan had a total of 1,890 students in its Emergency Loan Program, which covers student loan payments.
Michigan State students with outstanding student loans currently owe an average of $24,500.