DETROIT, Mich.–– Michigan college students now have more student loans options thanks to Comerica. Residents attending any in-state public, private, community college or university and pursuing an undergraduate degree are eligible for up to $40,000 in loans.

Interest rates are a low 2%– about 4% less than any standard student loan rate currently available. Repayment begins three months after graduation.

To remain eligible, students must be full-time, taking at least 12 credits per semester, and maintain a 2.0 GPA or higher. A minimum balance of $250 must be kept in a Comerica checking or savings account during the duration of the loan and after graduation during the repayment period.

Students may use up to $10,000 per semester on tuition and book expenses. The loan can’t be applied to cover room and board fees.

Applications open November 1, 2014, and close December 31, 2015, and will be accepted on a rolling basis. Applications can be found online at https://www.comerica.com/, going to any Michigan branch location or by calling 1-800-COMERICA.

This was done as an assignment for my external public relations class. This should not be used or considered as news.