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  2. Michigan Guaranty Agency - Wikipedia

    en.wikipedia.org/wiki/Michigan_Guaranty_Agency

    The Michigan Guaranty Agency (MGA) is a component of the Michigan Higher Education Assistance Authority (MHEAA) and was established by Michigan Public Act 77 of 1960. MGA operates guarantees for three loan programs which are intended to guarantee subsidized and unsubsidized Federal Stafford loans, Federal PLUS loans, and Federal Consolidation loans made by banks, credit unions, savings and ...

  3. Michigan Higher Education Assistance Authority - Wikipedia

    en.wikipedia.org/wiki/Michigan_Higher_Education...

    The Michigan Higher Education Assistance Authority (MHEAA) was created by the State of Michigan in 1960 through Public Act 77. One of the major components of MHEAA is the Michigan Guaranty Agency (MGA), the federally designated guarantor of federal student loans in Michigan. In that capacity, MHEAA-MGA primarily backs Michigan students by ...

  4. Guaranty association - Wikipedia

    en.wikipedia.org/wiki/Guaranty_association

    A state guaranty association is not a government agency, but states usually require insurance companies to belong to it as a condition of being licensed to do business. The guaranty associations of the fifty states are members of a national umbrella association, the National Organization of Life and Health Insurance Guaranty Associations (NOLHGA).

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  6. Michigan Education Savings Program - Wikipedia

    en.wikipedia.org/wiki/Michigan_Education_Savings...

    The Michigan Education Savings Program (MESP) is a 529 savings plan that is administered by the Michigan Department of Treasury. Michigan residents who contribute to this plan can deduct up to $5,000 (up to $10,000 for joint filers) from their state income tax each year. MI State Matching Grants based on MESP contributions are not currently ...

  7. Loan guarantee - Wikipedia

    en.wikipedia.org/wiki/Loan_guarantee

    [citation needed] Generally, their parents will provide a guarantee to the lender to cover any shortfall in the event of default. [citation needed] There are three main types [1] Guarantor Mortgage: – generally, a parent or close family member will guarantee the mortgage debt and will cover the repayment obligations should the borrower default.

  8. Property and casualty insurance guaranty funds - Wikipedia

    en.wikipedia.org/wiki/Property_and_Casualty...

    The statute states that Colorado's guaranty fund "provide(s) a mechanism for the payment of covered claims under certain insurance policies, to avoid excessive delay in payment and financial loss to claimants or policyholders because of the insolvency of an insurer, to assist in the detection and prevention of insurer insolvencies, and to ...

  9. Demand guarantee - Wikipedia

    en.wikipedia.org/wiki/Demand_guarantee

    The demand guarantee bridges the "gap of distrust" that exists between the parties. When the bank issues the demand guarantee, the beneficiary deals with a party whose financial strength he can trust and a party which would pay upon first demand regardless of an existing dispute between the parties on the performance of the underlying contract. [5]

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