Establishes a tax credit for Massachusetts residents who make payments on eligible education loans and complete a degree from an accredited.

The bill creates the Massachusetts student relief and retention tax credit to incentivize students to stay in Massachusetts after completing a degree from an accredited institution. The credit is available to taxpayers who made payments on eligible education loans while being a resident of Massachusetts for more than one entire taxable year. The credit amount varies based on the degree obtained: $1,000 for an associate degree, $2,000 for a bachelor’s degree, and $3,000 for a graduate degree.

Establishes a tax credit for Massachusetts residents who make payments on eligible education loans and complete a degree from an accredited.

The bill creates the Massachusetts student relief and retention tax credit to incentivize students to stay in Massachusetts after completing a degree from an accredited institution. The credit is available to taxpayers who made payments on eligible education loans while being a resident of Massachusetts for more than one entire taxable year. The credit amount varies based on the degree obtained: $1,000 for an associate degree, $2,000 for a bachelor’s degree, and $3,000 for a graduate degree.