Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

Poll results

Sen. Nathan Libby, D-Lewiston, is sponsoring a bill, LD 149, that would ask voters to approve a $250 million bond issue to ease student debt. Under Libby’s proposal, if voters approved, the $250 million bond would fund a program administered by the Finance Authority of Maine to help pay off student loan debt for individuals who agree to live and work in Maine for five years. It also would reimburse employers that make student loan debt payments on behalf of their employees who agree to live and work in Maine for five years. 

Andrea Cianchette Maker, a partner at Pierce Atwood, testified in support of the bill on behalf of Acadia Insurance and IDEXX Laboratories. Citing figures from the Project on Student Debt, Maker noted the average student loan indebtedness for Mainers is $31,364, which is 10th highest in the nation. In total, she said, Mainers owe more than $6 billion in student debt.

“If enacted, LD 149 could be a game-changer for our state,” Maker wrote. “It will significantly help Maine attract and retain a desperately needed future workforce by helping our workers get out from under college debt in an expedited manner. After that debt is paid, they will be fully engaged in Maine's economy and in a much better position to invest in their futures here in Maine, from buying a first home to raising a family.”

At its May 9 public hearing, the bill received support from Behavioral Health Community Collaborative, Maine Association of Realtors, Maine State Employees Association, AARP Maine, Finance Authority of Maine, Maine Tourism Association, Lewiston Auburn Metropolitan Chamber of Commerce and a number of individuals who shared personal stories about how their student debt adversely affects their lives.

Of the 27 people testifying at the hearing, only a few opposed Libby’s bill outright  — essentially saying the state’s resources are not unlimited and the bond would divert funding from other essential needs.

The fiscal statement attached to the bill indicates a 10-year $250 million bond would require another $65.3 million to pay off at a 4.75% interest rate, for a total cost of $315.3 million.

Do you support LD 149 as a way to attract and retain Maine’s future workforce?
Yes (46%, 51 VOTES)
No (54%, 59 VOTES)
Poll Description

Sen. Nathan Libby, D-Lewiston, is sponsoring a bill, LD 149, that would ask voters to approve a $250 million bond issue to ease student debt. Under Libby’s proposal, if voters approved, the $250 million bond would fund a program administered by the Finance Authority of Maine to help pay off student loan debt for individuals who agree to live and work in Maine for five years. It also would reimburse employers that make student loan debt payments on behalf of their employees who agree to live and work in Maine for five years. 

Andrea Cianchette Maker, a partner at Pierce Atwood, testified in support of the bill on behalf of Acadia Insurance and IDEXX Laboratories. Citing figures from the Project on Student Debt, Maker noted the average student loan indebtedness for Mainers is $31,364, which is 10th highest in the nation. In total, she said, Mainers owe more than $6 billion in student debt.

“If enacted, LD 149 could be a game-changer for our state,” Maker wrote. “It will significantly help Maine attract and retain a desperately needed future workforce by helping our workers get out from under college debt in an expedited manner. After that debt is paid, they will be fully engaged in Maine's economy and in a much better position to invest in their futures here in Maine, from buying a first home to raising a family.”

At its May 9 public hearing, the bill received support from Behavioral Health Community Collaborative, Maine Association of Realtors, Maine State Employees Association, AARP Maine, Finance Authority of Maine, Maine Tourism Association, Lewiston Auburn Metropolitan Chamber of Commerce and a number of individuals who shared personal stories about how their student debt adversely affects their lives.

Of the 27 people testifying at the hearing, only a few opposed Libby’s bill outright  — essentially saying the state’s resources are not unlimited and the bond would divert funding from other essential needs.

The fiscal statement attached to the bill indicates a 10-year $250 million bond would require another $65.3 million to pay off at a 4.75% interest rate, for a total cost of $315.3 million.

  • 110 Votes
  • 7 Comments
View recent polls

Sign up for Enews

7 Comments

  • May 18, 2019
    A more effective way to encourage investment in education, while still encouraging students and parents to choose cost effective options would be to make college tuition tax deductible for state and federal taxes, and to lower the interest rate on student loans to a much more reasonable 1%-2%.
  • May 15, 2019

    We cannot be everything for everybody! Will someone pay me the money it cost me four decades ago? Every one needs to take personal responsibility for their own life, including educational expenses if that is their choice to advance themselves. At the rate that Augusta is proposing to spend our money, there will be massive tax increases in the next biennium to pay to "continue" these now essential services, as though they have always been in the budget. Yet our infrastructure such as bridges and roads continue to collapse. What good are new services if no one can drive to access the services?

  • Sandra Morin
    May 15, 2019

    We already have the Educational Opportunity Tax Credit available for people who work and live in Maine. We do not need any more tax incentives.

  • Jennifer Vincent Vincent
    May 15, 2019

    The cost of higher education at most colleges and universities is out of control; programs like this would just encourage the trend. What is needed is an honest evaluation of how much education is needed for a given job. I went to college for four years (because that is what I was told I "had" to do to be employable), and I felt like the relevant courses could have been offered in two years; the other two years were unnecessary. Will this bond pertain to graduate degrees? Some interesting studies have been conducted regarding the financial feasibility of advanced degrees. Yet another complex issue that won't be solved by throwing money at it - and in fact may exacerbate it.

  • May 15, 2019
    Another gimmick from Augusta. How about structural changes to render Maine an attractive destination for businesses? Any odds on another proposed income tax surcharge on the ballot for 2020?