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Vermont Bill Would Provide Debt Reduction for Student-Loan Recipients Who Buy Homes in OZs

Wednesday, March 11, 2020 - 11:00AM

A bill introduced in the Vermont state Legislature would provide additional down payment assistance to qualifying homebuyers who purchase a home in a Vermont opportunity zone (OZ) and who participate in the state down payment assistance program. S.B. 331 would create the Rural Vermont Workforce Incentive Program, which would require the state to forgive $4,000 of the down payment assistance loan at the end of each year the buyer owns the residence and has student debt, with a maximum debt forgiveness of $20,000. The legislation would go into effect July 1.

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