Here are ways to reduce your student debt, using other people’s money

To attract younger residents, Maine is offering student debt relief to graduates who live and work in the state.

The details of the program vary based on when you graduated and whether you are from Maine or elsewhere. But generally, people are able to subtract their total student loan payments over the year from their state income tax liability. So if you owe the state $2,000 in state income taxes and you paid $1,800 in student loans, you’ll owe Maine just $200.

Newburgh Heights, Ohio, has another offer for student loan borrowers.

If you’re a graduate from a four-year accredited college or university and purchase a house in the town valued at $50,000 or more within five years of graduating, the town will pay off half of your student debt, up to $50,000.

There are two payouts, 80 percent at the 10 year-mark and the final 20 percent after the 15 years. Even if you’ve paid off your student loans by that time, you’ll receive the funds for the amount you owed when you first enrolled in the town’s program.

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