Governor Hogan Announces 2019 Award of $9 Million in Tax Credits for Student Loan Debt

ANNAPOLIS, MD�Governor 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.

�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.�

�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.�

There 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.

Last 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.

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