Maryland residents can now apply for the state's Student Loan Debt Relief Tax Credit program, which offers $18 million in tax credits for residents filing their 2024 tax returns.
The application period ends Sept. 15. Individuals who receive the tax credit must show they have used the full amount to pay their student loans.
To qualify, applicants must:
Maintain Maryland residency for the 2024 tax year
File 2024 Maryland state income
Have initially incurred at least $20,000 in undergraduate and/or student loan debt
Have at least $5,000 in outstanding student loan debt at the time of applying
Currently make payments on their student loans
