First-time homebuyer student debt relief bill through Senate, on to House

Buyers going to great lengths
Buyers going to great lengths(WABI)
Published: Mar. 22, 2022 at 4:33 PM EDT
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BANGOR, Maine (WABI) - Buy your first home in Maine and have $40,000 in college debt forgiven.

The Maine Senate approved legislation on Tuesday to improve access to homeownership through partial student debt relief.

Officials say in Maine, the average student graduates with $33,500 in student debt.

Some lawmakers see this as a way for the state to help retain younger people starting out in life.

Individuals must reside in the home purchased through the program for a minimum of five years.

The measure now goes to the House for a vote before before returning to the Senate for enactment.

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