Maine Will Help Students Pay Off Their Loans If They Move There

If you’ve never been to Maine, then you should definitely add it to your bucket list of places to visit within the United States. It’s a quaint little state that has much beauty, community, culture and more to offer.

In fact, Maine draws about 36 million tourists each year because of its four seasons’ worth of enticements. Visitors can enjoy everything from white sandy beaches to world-class skiing.

However, the state just can’t seem to get enough young people to move there. So, officials have taken a big step to entice youngsters to call Maine home.

The state of Maine is offering to help students pay off their student loans if they move there.

Officials started the program in 2008 as a retention tool for young professionals already living in Maine. The Educational Opportunity Tax Credit program targeted Maine college grads and allowed them to use their loan payments as tax credits.

“Over time, the employer community spoke out loud and clear that even if 100% of college graduates in Maine chose to stay here and work, that still (wouldn’t) fulfill our workforce need,” Nate Wildes, engagement director for the private-sector initiative Live + Work in Maine, told CNN.

The program eventually grew to attract out-of-state employees. The money out-of-state employees who move to Maine spend toward paying their student loan debt each year is subtracted from your state income taxes.

Sounds like a pretty good deal, doesn’t it?

By: Maytinee Kramer

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