The State of Maine is looking to attract younger citizens.
Deduct student loan payments from income tax in the form of a tax credit. The maximum benefit is up to $60,000 but not more than half of your student loan debt.
So who might be eligible for this fantastic program:
- Maine residents or persons who will become Maine residents upon being hired by a Maine- based employer.
- A person employed, or who will be employed, by a Maine-based employer in a designated STEM occupation. Click here for a list of STEM occupations.
- An applicant must have a higher education degree or certificate.
- An applicant must have outstanding student loan debt.
Both undergraduate and graduate student loans are eligible for Alfond Leaders student loan repayment, that’s Maine’s program. Original student loans as well as refinanced or consolidated student loans are eligible, provided they were specifically for education expenses. Parent loans are not eligible.
But this isn’t the only program to help murder your student loan debt in Maine. Maine residents also may be eligible for student loan forgiveness through the following programs:
- Educators for Maine,
- Health Professionals,
- Veterinary Professionals,
- Dentistry and Dental Education, and;
- Lawyer Loan Repayment Program.
More information on those programs can be found here.
It might just be time to think about moving to Maine and kiss some of your student loans adios.