Lawmakers To Consider Governor's Student Loan Credit Bill

AUGUSTA, Maine - Certain Mainers and their employers could more easily receive tax credits for paying off their student loans under a bill.
 
The Legislature's Taxation Committee will consider Tuesday the proposal backed by Republican Gov. Paul LePage.
 
LePage has called for student loan debt relief to attract young people to the nation's oldest state.
 
The bill would create uniform rules for qualifying for the existing Educational Opportunity Tax Credit that critics call too complicated and vastly underused by Maine employers.
 
Currently, eligibility for the credit varies widely depending on an individual's graduation year.
 
The expanded credit would apply to all eligible graduates with a degree from any accredited college or university after 2007.
 
Credits would range from $1,000 for individuals with an associate degree to $3,000 for those with a graduate degree.