NMU offers Promise loans MARQUETTE, MI (wnmu) - Northern Michigan University is offering students who lost state scholarship money this year loans to cover the shortfall. The interest-free loans are aimed at more than 1,200 NMU students who were expecting $1.5 million in Michigan Promise Scholarships. The state legislature pulled funding for the scholarship from the budget.

The loans will cover each student's anticipated award, up to $2,000. Payments can be spread out over 20 months with a minimum $50 payment. The first installment will be due in June of 2010.

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