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Thanks to Opportunity Maine, college students throughout the state will find a silver lining in the blanket of college loans next year. In January, the program’s contract will be available in the financial aid offices of all state and private universities in Maine.
The program allows Maine college graduates who stay and work in the state after graduation to receive tax credits to help pay off student loans. Companies can also absorb the cost of a graduate’s loan payments and receive the credit instead. Opportunity Maine hopes that keeping college graduates in the area will improve the Maine economy, while at the same time reducing the costs of a college education.
“Opportunity Maine will open doors of educational and economic opportunity for all Mainers,” Andrew Bossie, president of Opportunity Maine and a University of Southern Maine student, said.
“It will be a very simple process,” said Tony Giampetruzzi, Opportunity Maine Steering Committee member. “Students will sign the contract and it will stay on file until they graduate.”
The organization is gearing up for an informational campaign throughout the state to be featured in the coming months. The campaign will include events on different campuses, potentially including concerts and a “political candidate debate,” according to Giampetruzzi.
“There will also be a special incentive that I can’t talk about now, but every person will have a physical reminder of the program,” Giampetruzzi said.
This year, Opportunity Maine hopes to mimic the grassroots campaign approach that they used last fall. The initiative gathered a volunteer army and went door-to-door collecting more than 70,000 signatures to send the bill to the Maine legislature. The bill had unanimous support in the House and was approved in the Senate by a 27-8 vote. Gov. John Baldacci signed the bill into law in June.
“Opportunity Maine is part of the solution for Maine,” state representative Emily Cain said (D-Orono), who financed the bill. “The debt with students does not adjust to their incomes when they graduate. They get lower salaries working in Maine but that debt stays the same. This will take the edge off for students to stay in the state.”
Cain expects the program to begin at a “good pace” for the first few years and to grow rapidly as more students become informed of its availability.
“This sends the right message to Maine students,” she said.
Many students agree that Opportunity Maine is a step in the right direction for their home state.
“It will be something for the state to give back,” John Martin, a senior communication major said. “College costs are constantly rising and there are so many expenses with books and room and board; this will definitely help.”
Students unfamiliar with the program will be able to receive more information through the volunteers that will be working throughout campuses across the state.
“We are ready to start phase two of the campaign,” Gabi Berube said, a senior at the University of Maine and Field Organizer for Opportunity Maine. “We are gearing to hit the streets and notify students of the benefits of the program. My goal is to have everyone in the state who is eligible to take advantage of Opportunity Maine.”
Bangor Daily News