SPRINGFIELD, Ill. — State Rep. Mark Walker, D-Arlington Heights, recently introduced a measure to alleviate some of the student loan burden plaguing Illinois STEM and medical field graduates who contribute to the success of our state.
“Too many young and aspiring students are unacceptably drowning in debt,” Walker said. “At the same time, we need to be looking at ways to incentivize our brightest students in competitive fields to choose to make Illinois home.”
Walker has introduced House Bill 2973, known as the Student Loan Payment Credit Act, which would allow for college graduates working in science, technology, engineering, math or medical fields with an Associate’s, Bachelor’s, Master’s degree or higher to receive some relief in paying back their student loans. Those who qualify could receive up to $6,000 in income tax credits for their yearly student loan payments. If passed, the law would require graduates to be employed full-time or have an offer of full-time employment in the state to qualify.
“Our state has been a leader in science, technology and health care for over a century,” Walker said. “It’s important that we do what we can to preserve that legacy moving forward with the next generation of innovators and leaders.”