CHIPPEWA VALLEY SCHOOLS: A HISTORY OF BORROWING FROM THE STATE

Did you know Chippewa Valley Schools has borrowed millions through Michigan's School Bond Loan Program to help meet its existing bond payments?

📊 I reviewed the district's state loan history, and the numbers tell an interesting story.

💰 By 2014, the outstanding loan balance had grown to approximately $134.8 million.

✅ A major repayment followed in 2015.

📈 By 2019, another borrowing cycle had pushed the balance to approximately $96.8 million.

✅ Another major repayment occurred in 2020.

And then borrowing resumed.

Between 2022 and 2025, the outstanding balance grew again, reaching approximately $37.7 million.

💵 As of October 16, 2026, the district's outstanding state loan balance was approximately $33.2 million.

📅 The state's mandatory final repayment date is May 1, 2040.

Here's the important distinction: This program allows school districts to borrow from the state to help make payments on bonds they've already issued. Using it does not, by itself, mean a district has defaulted.

❓ With another $288 million bond proposal before voters, what should taxpayers understand about the district's existing borrowing and future repayment obligations?

The history is worth examining, and the numbers are public.

https://ladybudgetdown.com/district-debt

📚 Source: Michigan Department of Treasury — School Bond Qualification and Loan Program, Chippewa Valley Schools loan history.

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