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Maryland Higher Education Commission (MHEC) News Brief |
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Maryland Taxpayers Encouraged to Apply for Student Loan Debt Relief Tax Credit Before September 15 Deadline
The Maryland Higher Education Commission (MHEC) is encouraging Maryland taxpayers to apply for the Student Loan Debt Relief Tax Credit (SLDRTC) for the upcoming 2025 tax year. The program is a valuable opportunity for borrowers to receive assistance in reducing their student loan debt.
Completing the application could result in receiving a significant tax credit that helps in paying down existing student loan balances. On average, applicants receive a tax credit of $1,800.
Eligibility Requirements:
- Be a Maryland resident for the 2025 tax year
- File Maryland state income taxes for the 2025 tax year
- Have initially incurred at least $20,000 in undergraduate and/or graduate student loan debt
- Have a minimum of $5,000 in outstanding student loan debt at the time of application
- Be making payments on their student loans at the time of application
- Demonstrate that the entire amount awarded was directly applied to eligible student loan payments after receiving the tax credit
To apply, visit the Maryland Higher Education Commission’s website. The application deadline is September 15.
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