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Deadline looms to apply for Maryland student loan debt relief tax credit

August 27th, 2022 by WCBC Radio

Marylanders paying off their student loans still have time to apply for debt relief to help lessen the amount they still owe. The deadline for the state’s Student Loan Debt Relief Tax Credit Program for Tax Year 2022 is Sept. 15. “Going to college may seem out of reach for many Marylanders given the huge expense, but tax credits like these help make it possible. I urge everyone to apply now before time runs out,” Comptroller Peter Franchot said. “Any way to bring down the cost of higher education is a big benefit.” The program works by providing an income tax credit for Maryland residents making eligible undergraduate and/or graduate education payments on loans from an accredited college or university. It is administered by the Maryland Higher Education Commission (MHEC).