Bill > LD1653

This bill establishes the Maine Credentialed Workforce Program, administered by the Finance Authority of Maine (FAME), to support workforce development by helping recent graduates with student loan repayment in priority occupations. The program will offer eligible participants up to $25,000 annually for up to 4 years (with a maximum total of $100,000 or 50% of outstanding student loan debt) to help repay student loans if they work in professions deemed critical to the state's economic needs. To qualify, applicants must have graduated within the past 5 years with an associate, bachelor's, or graduate degree, have outstanding student loans, and commit to working in a priority occupation in Maine for at least 4 years. The program will be funded through a special revolving fund that can accept public and private contributions, with FAME having the authority to determine specific eligibility requirements, application processes, and priority occupations through consultation with workforce experts. The bill includes provisions for annual certification of employment, publicizing priority occupations, and establishing an application cycle, with the ultimate goal of attracting and retaining skilled workers in Maine's most needed professional sectors.

Education

https://legislature.maine.gov/legis/bills/display_ps.asp?LD=1653&snum=132