An Act To Develop Maine'S Credentialed Workforce

LD 1653 establishes Maine's Credentialed Workforce Program to help recent graduates with student loans by repaying a portion of their debt. The program targets individuals with bachelor's or graduate degrees (earned within 2 years) who have eligible student loans and agree to work in designated "priority occupations" for 4 years in Maine. Participants can receive up to $25,000 annually (capped at $100,000 total or 50% of their debt) for up to 4 years, contingent on annual employment verification in qualifying roles. The Finance Authority of Maine administers the program using a dedicated revolving fund, which combines state appropriations, federal funds, and private contributions to cover repayments. Priority occupations are defined using the state's economic development strategy.