Governor Wes Moore of Maryland announced on Wednesday that the Maryland Higher Education Commission has awarded nearly $9 million in tax credits to more than 9,000 Maryland residents who have incurred student loan debt. This program, which began in 2017, offers Maryland residents a critical advantage when looking for options to pay off student loan debt.

“These tax credits support student success through less debt,” said Governor Moore.

Maryland taxpayers who have incurred at least $20,000 in undergraduate and/or graduate student loan debt and have at least $5,000 in outstanding student loan debt are eligible to apply for the Student Loan Debt Relief Tax Credit. This year, over 9,300 Maryland residents were awarded the tax credit in the amount of $966 each, totaling $8,996,358 in tax credits statewide.

The tax credit will be claimed on the recipient’s Maryland income tax return when they file their Maryland taxes this year. If the credit is more than the taxes owed, they will receive a tax refund for the difference. However, under Maryland law, the recipient must submit proof of payment to the Maryland Higher Education Commission documenting that the tax credit was used for the purpose of paying down the qualifying student loan debt.

Since the program began in 2017, nearly $50 million in tax credits have been awarded. This is great news for Maryland residents who are struggling to pay off their student loan debt.

To learn more about the program, go to

David M. Higgins II, Publisher/EditorEditor-in-Chief

David M. Higgins II is an award-winning journalist passionate about uncovering the truth and telling compelling stories. Born in Baltimore and raised in Southern Maryland, he has lived in several East...

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