Marion County is extending for five years its participation in a program that can repay up to $15,000 in student loans for non-resident college graduates willing to relocate here.
The Rural Opportunity Zone program costs the county considerably less than the $15,000 total might suggest.
The county sponsors only two students at a time, pays only half of the loan forgiveness, and spreads those payments over five years, making the county’s total contribution $6,000 annually.
The rest of the money comes from the state, which also forgives state income taxes for relocated graduates in the program.
The county already has a lengthy waiting list of relocated new graduates wanting to participate.
(Read more: PEABODY Gazette-Bulletin)