Maryland Residents Eligible for $5K Student Debt Tax Credit

Starting this year, NWU members who pay income taxes in Maryland are eligible for a new tax credit if they have student debt. Friends and family members are welcome, too.

If you, a friend, or family member in Maryland who’s incurred at least $20,000 in student loan debt, and have at least $5,000 in outstanding debt remaining, you may be able to claim a $5,000 tax credit on your 2017 personal income taxes. This is thanks to new legislation from the Maryland General Assembly.

The Maryland Higher Education Commission has provided a short podcast clip with a quick overview.

To apply, you must submit an application to the Maryland HIgher Education Commission by September 15th of this year. The form is available online, but you will need to print it out and mail it in. Check out Maryland.gov for the full details.

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