Gov. Ho­gan an­nounces tax cred­its for stu­dent loan debt

Baltimore Sun - - MARYLAND -

Gov. Larry Ho­gan has an­nounced the award­ing of nearly $9 mil­lion in tax cred­its for Mary­land res­i­dents with stu­dent loan debt. The ad­min­is­tra­tion says there were 9,600 ap­pli­cants who were el­i­gi­ble for the Stu­dent Loan Debt Re­lief Tax Credit. That in­cludes 6,331 el­i­gi­ble ap­pli­cants who at­tended in-state in­sti­tu­tions who will each get $1,000 in tax cred­its. There were 3,269 el­i­gi­ble ap­pli­cants who at­tended out-of-state in­sti­tu­tions who will re­ceive $813 each in tax cred­its. “It is crit­i­cal that we look for ways to help those in our state crip­pled by stu­dent loan debt,” Ho­gan said in a state­ment on Mon­day an­nounc­ing the tax cred­its. “This pro­gram helps Mary­land tax­pay­ers pay off stu­dent debt, while re­main­ing in the work­force and hav­ing a pos­i­tive im­pact on the state econ­omy.” Last year, the Mary­land Higher Ed­u­ca­tion Com­mis­sion awarded 9,484 state res­i­dents tax cred­its un­der the ini­tia­tive. Of them, 5,238 ap­pli­cants at­tended an in-state in­sti­tu­tion and re­ceived $1,000 each in tax cred­its. There were 4,246 who at­tended an out-of-state in­sti­tu­tion and re­ceived $883 each in tax cred­its.

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