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AP News

Maine considers student loan tax credit expansion

AUGUSTA, Maine (AP) — A measure moving forward in the Maine Legislature would provide tax credits for student loans to some who graduate from out-of-state colleges and return to Maine to work and live.

The Educational Opportunity Tax Credit reimburses student loan payments for students who go to Maine community colleges and universities who stay in the state after graduation.

The bill sponsored by Democratic Rep. Catherine Nadeau would expand the program to some students who go to school in other New England states because the major they want to pursue isn't offered at a Maine school.

Supporters say it will help attract more young people to Maine after graduation.

Advocates of the program have criticized lawmakers for failing to effectively market it, resulting in only a fraction of students taking advantage of it.

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