Michigan student loan repayment program

We tackle Section 27k & PSLF. You retain more teachers.

Section 27k adds workload for your staff. Your Money Line offers a turnkey student loans program to operate Section 27k for your district, coach employees towards PSLF, and improve staff financial health. It's not too late. Start planning for Cohort 2 opening Fall 2024.

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Student loans are weighing down your staff

71% of teachers with student loan debt are considering quitting due to financial stress.

The Michigan Department of Education is working to increase the retention of teachers with Section 27k that gives your staff an opportunity to get additional student loan debt forgiven.

Partnering with Your Money Line will enable your school staff to:
Navigate complex federal programs like 27k and PSLF—so they can get their student loans forgiven
Make better financial decisions with a dedicated, trusted resource to turn to —so they can set themselves up for success
Understand their financial life—so they can stress less and retire on time
Stay teachers—so you can provide a quality environment for your students

A turnkey solution for Section 27k

Join dozens of other Michigan schools and take advantage of additional loan forgiveness for your school staff without the overhead

Use a simple, online 27k process

Our online dashboard and team of certified financial guides allows your staff to have a go-to expert for every step of the way

Frequently asked questions

Okay, you're a little intrigued and want to know more? Dive in below.

What is 27k?

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27K is a student loan reimbursement program funded through the Michigan Department of Education for “student facing” educators who also participate in the federal Public Service Loan Forgiveness Program (PSLF).

What is Your Money Line?

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We're a financial wellness benefit that brings together software, certified money coaches, and world-class financial education to help employees find greater financial stability and health.

How do you help with 27k?

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Schools often turn to Your Money Line for help with public service loan forgiveness (PSLF). This is a complicated government program, and our guides offer 1:1 meetings with teachers or staff to guide employees through every step of the loan forgiveness process.

27k is added layer of opportunity for Michigan school districts. While your staff can benefit from the added loan forgiveness it will require additional work from your central office staff. We help your team implement and manage the program from start to finish so you stay compliant.

Is it too late to particiate in 27k?

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No! Due to the demand, Michigan Department of Education anticipates a second application period called the Cohort 2. The application for the second cohort is expected to open in the fall of 2024. More information about Cohort 2 will be posted on the MDE website in the coming weeks and months. Now is the time to start planing your strategy of handling it in house or tackling it with a partner.

How is this free to employees?

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Your Money Line is purchased by businesses as a corporate benefit that they can offer their employee population. Employees (and their dependents) can sign up and use it for free for as long as they work at the school district.

What experience does Your Money Line have?

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Your Money Line was created by Peter Dunn (aka Pete the Planner), who has spent more than 20 years in the industry and is  one of the world's foremost experts on employee financial wellness. Our team of guides all hold degrees or leading certifications on financial planning & coaching.