Maine student loans are getting taken care of with a new online tool put in place by the state Finance Authority of Maine. It is aimed at helping the people of Maine learn and comprehend the consequences of taking on student loan debt.

States across America are trying to step in and help out student loan borrowers. We have talked about the steps Virginia and Maryland have taken to help their local student loan borrowers. Now Maine is getting on board.

Maine graduates that have got student loan debt are finally getting the help they need to figure out how to adjust their payments to meet their financial constraints. The state Finance Authority of Maine says there is a new online tool that is aimed at helping the people of Maine learn and comprehend the consequences of taking on student loan debt.

Nearly 66% of Maine college students graduate with student loan debt.  Maine has the seventh-highest student debt average in the nation at $30,908. Which could put them in a place of what the Democrats in Virginia are going through. The Democrats in Virginia are concerned that student loans are slowing down the economy with all of their student debt.

The state’s free online tool includes new refinancing and consolidation options offered by six of Maine’s lenders. The tool will also include an educational section as well. Topics range from credit cards to identity theft to investing and more.

Other states may start to follow suit with help for their local student loan borrowers to entice a boost in the state’s economy. Which might start trending faster than it would with no real student loan plan in place from President-Elect Trump. Only time will tell, but this could be a good thing, in the long run, to have states back their local student loan borrowers.