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carmicdy t1_j0qkzzs wrote

Does it explain the difference between, the EOTC?

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happyharrr OP t1_j0qor0t wrote

I don't have a full grasp of the EOTC since I was never eligible for it, but my understanding is that the EOTC had a more convoluted eligibility system, and the SLRTC simplifies things and expands eligibility.

Whereas before under the EOTC, it was:

> * An associate or bachelor's degree from an accredited Maine college or university after 2007 and before 2016; or

  • An associate or bachelor's degree from an accredited Maine or non-Maine college or university after 2015; or,
  • A graduate degree from an accredited Maine college or university after 2015

Now under the SLRTC, it is: > An associate, bachelor's or graduate degree from an accredited community college, college or university after December 31, 2007

I think the biggest thing that comes from this is the inclusion of people with degrees from non-Maine universities who graduated between 2008-2015 who weren't eligible for the EOTC but are now eligible for the SLRTC.

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404-GeezManIDK t1_j0urt4q wrote

EOTC also covered cost of college outside of loans (I paid cash for Associates and qualified), will the SLRTC do the same? I'm assuming with "Loan" in the name that's a no, but could be wrong.

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snackexchanger t1_j0r5366 wrote

Looks like the big changes are

  1. They simplified the eligibility so the credit is not dependent on graduation year
  2. They DRASTICALLY decreased the credit amount (used to be $4,000+/year for a bachelors degree and now it’s $2,500)
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carmicdy t1_j0rc06t wrote

And still not refundable unless it's a STEM degree?

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