Opportunity Maine - Tax Credit

The Opportunity Maine Program provides a state income tax credit for student loan payments made by degree earners who live, work and pay taxes in Maine following graduation. Alternatively, the tax credit would be available to Maine businesses that make their employees' educational loan payments.

Frequently Asked Questions

Do I need to be a Maine resident to qualify?
All Maine college students are eligible. You must live in Maine during the school year while you attend college. After graduation, you can claim the credit any year you make loan payments and live and work in Maine.

How much is the tax credit worth?
The average student credit will be $2100 each year but this figure will vary depending on how much student loan debt you have. Students can claim up to $5500 each year. Associate degree earners can claim up to $1500 each year.

While our office is no longer required to provide you with benchmark information, we have created a worksheet that will help you gather the information needed to qualify.
Click here for Opportunity Maine worksheet

For more information, please click here to go to the Opportunity Maine website.