Governor Hogan Awards $9M In Tax Credits For Student Loan Debt
ANNAPOLIS (WJZ) — Governor Larry Hogan and Maryland Higher Education Commission Secretary Dr. James Fielder announced nearly $9 million in tax credits for 9,600 Maryland residents with student loan debt.
"It is critical that we look for ways to help those in our state crippled by student loan debt," Governor Hogan said. "This program helps Maryland taxpayers pay off student debt, while remaining in the workforce and having a positive impact on the state economy."
9,600 applicants were eligible for the Student Loan Debt Relief Tax Credit, which were divided into two groups of eligibility- including Maryland residents who went to a Maryland institution and residents who went to an out-of-state school.
There were 6,331 eligible applicants who went to in-state schools and will each get $1,000 in tax credits, while 3,269 eligible applicants went to out-of-state schools and will get $813 each in tax credits.
"MHEC staff is proud to administer programs like this that support student success with less debt," Secretary Fielder said. "Governor Hogan's ongoing efforts to find solutions to the national student loan debt crisis is one more example of his unwavering commitment to make education a top priority of his administration."
