LANSING - People with student loan debt are one step closer to receiving tax credits here in Michigan. On Tuesday, February 17th State Senator Curtis Hertel Jr. (D) for the 23rd District presented on Senate Bill 57 at the State Legislative hearing.

“This is the first step, today was just testimony were hoping to get a vote soon and get it out on the Senate floor. We’re going to keep fighting to make sure this bill gets done because we need to keep these young people here in Michigan,” he said.

The Bill would allow graduates who decided to stay in Michigan to claim an income tax credit equal to 50% of the amount paid on student loans during the tax year. The person claiming the tax credit would need to provide proof of residency and employment as well as payments made on the student loan.

Senator Hertel Jr. hopes this bill will keep Michigan graduates in the state as a part of the workforce and economy.

“I’m excited that we had the opportunity to actually present this bill to the committee and I’m hoping moving forward that we can get this bill to help keep college students here in Michigan and be part of the Michigan rebuilding process.”

The next step for this bill to make it to the Senate floor is another committee hearing.

Senator Hertel Jr. says he believes this bill can get done this year. In order to follow more information on the student debt bill he says information and events are regularly updates on his Facebook and Twitter.