Higher education: financial aid; medical education debt stabilization for students program; establish. Amends sec. 4 of 1975 PA 222 (MCL 390.1154) & adds sec. 4b.

Michigan House Bill 6291 establishes a new "medical education debt stabilization for students program" administered by the state's higher education loan authority. The bill authorizes loans specifically for residents enrolled in graduate-level medical, nursing, or physician assistant programs within Michigan who are training in high-demand specialties such as family practice, internal medicine, pediatrics, obstetrics, psychiatry, and emergency medicine. To be eligible, applicants must have already exhausted the maximum aggregate limit of federal student loans authorized under the Higher Education Act of 1965. This program aims to provide additional financial support to medical trainees in these specific fields who can no longer access further federal borrowing.