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Student debt? Maine will give you a tax credit.

Yup, you heard that right – all you have to do is work in Maine, and Opportunity Maine will give you a tax credit worth up to $4,500.

Maine employers can also offer loan payments as part of a compensation package to employees and claim those payments as a tax break:

The new rules will also offer more incentives to Maine companies to pay some or all of their employees’ student loans, even for employees holding graduate degrees. A company making student loan payments for an employee can claim the payments as a tax break on its annual filing. This year, the Legislature lifted the cap on the amount employers can pay on their workers’ student loans and still qualify for the tax credit. The credit is over $4,000 for a bachelor’s degree or nearly $800 for an associate degree, per eligible employee.  – Press Herald

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