York Town News
Proposed state tax break for higher education loans may go to voters
By Melissa Wood
AUGUSTA - The secretary of state announced Monday, Feb. 26, that enough signatures were collected and verified to put a question before Maine voters that would allow any person who graduates from a Maine college or university and then lives and works in Maine afterwards to be eligible for a tax credit to help pay back student loans.The Maine Legislature may either pass the measure outright or a question may go before the state's voters in November that asks, "Do you want to allow a tax credit for college loan repayment to any taxpayer who earns a future college degree in Maine and continues to live and work in Maine?"
Opportunity Maine, the political action committee organizing the initiative, launched its signature-gathering effort in late September. The group, which is mainly comprised of student volunteers, collected more than 70,000 signatures that were delivered to the State House for verification in January.
"This is an exciting day for all of us who have worked for over a year to make college more affordable, to create job opportunities throughout the state and to grow the economy," Andrew Bossie, the president of Opportunity Maine PAC and the student body president at University of Southern Maine, said in an announcement Monday.
Bossie added that the initiative will also help those who need re-education or who have lost jobs. And, it also gives businesses the option of paying the student loan payments for their eligible employees and taking the tax credit for themselves.
"We know that a lot of people need to leave Maine after they graduate because they can't afford to pay their student loans," he said. "Opportunity Maine will lighten that burden, making Maine a more attractive place to live and find a job."
According to Opportunity Maine's press release, Maine has 30 percent fewer degree-holders than the rest of New England, and Maine's average incomes are 30 percent less than the rest of New England. At the same time, the burden of student debt has skyrocketed in recent years, leading to crippling, lifelong debt and a real or perceived inability to pursue higher education.
"From the very beginning, Opportunity Maine wanted to educate Mainers about the importance of making higher education more affordable so people can get jobs in Maine," Dory Waxman, an Opportunity Maine field organizer, has said. "Well, we've already had over 70,000 face-to-face conversations with people who think this is an important effort, and our next step will be to speak to as many people as possible about the link between education and good-paying jobs."
