Janet Mills: Maine's reworked student loan tax credit 'more reasonable' than Joe Biden's plan
Gov. Janet Mills says the state's program for helping students manage college debt is "more reasonable" than the debt forgiveness plan announced Thursday by President Joe Biden
"The bipartisan Opportunity Maine tax credit, we expanded in this year's budget, greatly expanded, is probably the most generous student loan forgiveness program in the country," she says.
The program is now called the Student Loan Repayment Tax Credit. It offers up to $2,500 per year to people who live in Maine and have a job, according to Sharon Huntley, a spokesperson for the state Department of Administrative and Financial Services. A total of up to $25,000 in credits may be offered over someone's lifetime.
The credit is refundable and available to graduates with bachelor's, associate, or graduate degrees in any area of study, Huntley says.