Establishes the Maine Credentialed Workforce Program to support student loan repayments for skilled workers.
The bill establishes the Maine Credentialed Workforce Program within the Finance Authority of Maine. This program aims to support the credentialing needs of the state's workforce by repaying student loans for eligible individuals employed in priority occupations. Eligible applicants must have a bachelor's or graduate degree, outstanding student loans, and commit to working in a priority occupation for a specified period. The maximum loan repayment is $25,000 per year for a total of $100,000 or 50% of the outstanding student loan debt, whichever is less.
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