Maine lawmakers divided over college debt forgiveness

Biden’s plan would benefit about 177,000 student loan borrowers in Maine, or about 95% of those who have outstanding federal loans, according to Maine Center for Economic Policy, a left-leaning think tank. The average student loan in Maine is about $33,000, according to the U.S. Department of Education.

“Student debt prevents Mainers from buying homes and cars, getting jobs, and starting families,” Jody Harris, vice president of operations and finance for the group, said in a statement.

“Federal action to forgive student loans particularly benefits Mainers, who hold more student debt than the average American, and would have outsized positive impacts for working Mainers, Black families, women, and people with low income,” she added.

Click here to read the full story, first published August 26, 2022 in The Center Square.