 michigan tax breaks for student loans  senate bill 408 was reported out of committee this week that would allow graduates of michigan s public and private colleges and universities a tax credit equal to 50 percent of their student loan payments for each tax year if they live and work in the state for details on the proposed legislation and how it would impact state revenues click on the following link  http wwwmlivecom education indexssf 201311 studentloanseligibleformichtml 