AUGUSTA Hoping to lend a hand to cash-strapped young adults, Democrats are pushing for a student loan forgiveness program that would help lure recent college graduates to Maine.
Sen. Nate Libby, D-Lewiston, said the pretty bold initiative would offer to pay off half a graduates student loan debt and refinance the rest at low interest.
The program eyed by Democratic lawmakers would rely on funding from a $250 million bond issue that voters would have to approve before it could go into effect.
Libby said the Finance Authority of Maine would administer the program, facilitating the payment of private debt and the refinancing of it at 1 percent or 2 percent annual rates
Rep. Jared Golden, D-Lewiston, called the proposal really u…
Read the full article at: http://www.sunjournal.com/news/maine/0001/11/30/state-democrats-eye-bond-provide-250-million-student-debt-relief/2120611
