AUGUSTA – College graduations are this weekend and nearly every graduate will have some level of college debt.
Some Maine lawmakers are pushing for a bond issue that would provide $250,000 for debt relief for the state’s college graduates.
After working in the state for five years, graduates would be eligible for $10,000 at $2,000 a year for the next five years.
The bill’s sponsor, Lewiston Democrat Sen. Nate Libby, said he hopes this can help to alleviate Maine’s workforce shortage and growing college debt.
“So the nexus of these two problems we feel is direct student debt forgiveness, as a workforce attraction and retention tool,” Libby said.
Libby said most graduates, on average, have $30,000 of debt per year.