Maine Educational Opportunity Tax Credit

Opportunity Maine established the Educational Opportunity Tax Credit Program (EOTC) for individuals who have graduated from a Maine College and who live, work, and pay taxes in Maine.

The EOTC program provides tax benefits to Maine residents who have been in repayment on eligible student loans obtained at an accredited Maine college or university. If you graduated from a Maine college, and live and work in Maine, you may be eligible for reimbursement of education-based loans through a tax credit.

To be eligible, the following guidelines must apply to the individual at the time of the claim:

  1. The individual is a Maine resident and taxpayer
  2. During undergraduate studies, the individual lived in Maine (on-campus housing qualifies), except during periods not attending classes, or when it was reasonable to live outside of Maine for academic work (study abroad and transfer programs)
  3. The individual works at least part-time (16 hours a week) in Maine
  4. Obtained an associate or bachelor’s degree after 2007 from an accredited Maine community college, college, or university; and/or
  5. Obtained a graduate degree after 2015 from an accredited Maine college or university
  6. Paid eligible loan payments directly to the lender

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