Student Loan Debt Relief

You might qualify under Maryland College Affordability Act of 2016, applicable to all taxable years beginning after December 31, 2016.

Below are the criteria established to qualify for the Student Loan Debt Relief Tax Credit.  See the excerpt below from the MHEC (Maryland Higher Education Commission) website at www.mhec.state.md.us.

Have you incurred at least $20,000 in undergraduate student loan debt and have at least $5,000 in outstanding undergraduate student loan debt remaining?

 

You may be eligible for a tax credit of up to $5,000 on your 2017 personal income tax! Listen to MHEC's NEW podcast episode to learn about new initiative.​

In order to apply, you mu​st

• Complete and submit an application to the Maryland Higher Education Commission by September​ 15th each year;
• Be a resident of Maryland for the tax year;
• Incurred at least $20,000 in total undergraduate student loan debt; and
• Have at least $5,000 in outstanding student loan debt during the tax year for which you are applying.
  
  

For example, if you would like to apply the tax credit for 2017, you must complete and submit the application on or before September 15, 2017.

This tax credit must be used to pay down undergraduate student loan balances within two years of receiving the credit.

To apply, download the application below. ​You must complete and mail the application with the supplementary documentation to the Maryland Higher Education Commission at 6 N Liberty Street, Baltimore, MD 21201, 10th Floor.

​​​​Due to the confidential information in the completed application package, please do not send any application materials via email.

MHEC will certify all eligible Student Loan Debt Relief Tax Credit recipients  by December 15, 2017.

Maryland Student Loan Debt Relief Tax Credit Application.docx

Maryland Student Loan Debt Relief Tax Credit Application.pdf