 MHEAA-MGA operates under guidelines established by the Higher Education Act of 1965, as amended, and is beholden to all federal guidelines established therein.Although MHEAA-MGA is a state agency, insurance offered by MHEAA-MGA to back student loan activity in Michigan does not constitute or create any liability on behalf of the State of Michigan.In short, MHEAA-MGA operates with the use of federally designated funds which requires strict compliance with federal laws, rules, and regulations.