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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.

 

 

 

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