Deadline Approaches to Apply for MD Student Loan Tax Credit

Sep 11, 2019

Comptroller Peter Franchot (D-MD)
Credit official photo

The September 15th deadline looms for those struggling with student debt to get some relief from Maryland.

Maryland Comptroller Peter Franchot says the Student Loan Debt Relief Tax Credit is open to any state resident who has at least $5-thousand to pay on their student loans.

He said, “This is a new program and it’s obviously not a cure all. But it’s something that says the state of Maryland wants young people to know who have a lot of college debt that we’re on their side and we’d like to help them out.”

If a resident qualifies they will have two years to use it to pay down the balance of their student loan.

Franchot notes that there are nearly 95-hundred residents who qualify for the tax credits totaling $9 million.