All Bowdoin students will be considered eligible once they have earned a degree.
Yes. All students were considered “residents” while earning their degree. If you subsequently live, work, and pay taxes in Maine at any time within ten years after graduation, and are still repaying undergraduate student loan debt, you will be considered for the tax credit.
The figure will vary depending on your tax liability and the amount of your monthly student loan payments made. Please visit the Opportunity Maine website for more information.
You apply for the tax credit at the time you file your Maine Income Tax Return. The Maine Revenue Service will have a tax worksheet to complete. You will need a copy of your transcript, a listing of undergraduate loans you took after January 1, 2008, and proof of loans you repaid during the tax year.
No, prepayment makes the taxpayer ineligible for the Opportunity Maine credit.
Yes, as long as only undergraduate educational loans are consolidated and the total debt is equal to or less than the original debt.
You may get a copy of your transcript from the Bowdoin College Office of the Registrar. Your lenders or loan servicers will have information about your debt and repayment history. Your loan summary is available upon request from the Bowdoin Office of Student Aid.