Governor Hogan Announces 2019 Award of $9 Million in Tax Credits for Student Loan Debt
Larry Hogan and Maryland Higher Education Commission (MHEC) Secretary Dr. James
D. Fielder announced the awarding of nearly $9 million in tax credits for 9,600
Maryland residents with student loan debt.
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.”
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
were 9,600 applicants who were eligible for
the Student Loan Debt Relief Tax Credit. The tax credits were divided
into two groups of eligibility, including Maryland residents who attended a
Maryland institution and Maryland residents who attended an out-of-state
institution. There were 6,331 eligible applicants who attended in-state
institutions and will each receive $1,000 in tax credits, while
3,269 eligible applicants who attended out-of-state institutions will
each receive $813 each in tax credits.
year, MHEC awarded 9,484 Maryland residents the Student Loan Debt Relief
Tax Credit with 5,238 applicants who attended an in-state institution receiving
$1,000 each in tax credits and 4,246 applicants who attended an out-of-state
institution receiving $883 each in tax credits.