MARYLAND – Certain college students across Maryland are eligible for a tax break.
You must be a Maryland resident to apply for the student loan debt relief tax credit. Also to be eligible, you have to have incurred at least $20,000 in student loan debt and have at least $5,000 outstanding in debt when you apply.
Officials at the University of Maryland Eastern Shore tell us more about how this will help local college students. “Part of higher education is also making an investment in yourself. So we do see students in addition, in addition to state and federal assistance, sometimes they have to borrow loans because there is a gap that they can’t fund even if they’re in-state students,” said Doryann Gardner, the Associate Director of Office of Student Financial Aid, at the University of Maryland Eastern Shore.
Gardner advises making sure to keep in touch with your financial aid officer and keep an eye out for deadlines on scholarships and grants.
