skip to Main Content

Maryland Student Loan Debt Relief Tax Credit

Who It’s For: Maryland taxpayers who maintain Maryland residency for the tax year 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 at the time of applying for the tax credit.

How to Apply: Complete the Student Loan Debt Relief Tax Credit application online.

What Loans Qualify: Any loans borrowed to pursue an undergraduate or graduate education at an institution of higher education that is accredited by an accrediting body recognized by the United States Department of Education.

How Much?: Up to $5,000.

Other Information: Recipients of the Student Loan Debt Relief Tax Credit must, within two years from the close of the taxable year for which the credit applies, pay the amount awarded toward their college loan debt and provide proof of payment to MHEC. Failure to do so will result in recapture of the tax credit back to the State.