News

Maine bill aims to give young people a shot at home ownership by reducing student debt

Maine bill aims to give young people a shot at home ownership by reducing student debt

Photo: 560 WGAN Newsradio


The Maine Legislature has passed a bill to help bring down student loan debt, with the goal of getting young people into homes.

According to CBS 13, lawmakers passed the HOMED Act, which addresses student loan debt and the high cost of owning a home in today’s market. The law, modeled after a similar initiative in Maryland, would direct the Maine State Housing Authority to work alongside the Finance Authority of Maine to design the program.

The state says the average student in Maine has $33,000 of student debt when they graduate.

Governor Janet Mills has 10 days to either sign the bill, veto it, or let it become law without her signature.

 

 

 

Latest Headlines

10 hours ago in Local

An Accused Drunk Driver Arrested for Driving the Wrong Way on I-295

The driver was charged with an OUI and Reckless Conduct with a Dangerous Weapon.

2 days ago in Trending, World

King Charles III strips Prince Andrew of titles and evicts him from royal residence

King Charles III on Thursday stripped his disgraced brother Prince Andrew of his remaining titles and evicted him from his royal residence after weeks of pressure to act over his relationship with sex offender Jeffrey Epstein, Buckingham Palace said.

2 days ago in Local

Lobster Population Drops in New England, Overfishing Declared

A regulatory agency says lobster stock has declined by 34% since 2018

2 days ago in Local

Maine Network Ends Primary Care After Medicaid Cut from Trump Admin.

Maine Family Planning operates 18 clinics in the state

2 days ago in Local

Brunswick Police: Woman Rammed Cruiser, Led High Speed Chases Before Arrest

The suspect was denied bail because of underlying bail conditions.