Governor Hogan Announces 2019 Award of $9 Million in Tax Credits for Student Loan Debt

January 14, 2020

Governor Larry Hogan and Maryland Higher Education Commission (MHEC) Secretary Dr. James D. Fielder announced the awarding of nearly $9 million in tax credits for 9,600 Maryland residents with student loan debt.

“It is critical that we look for ways to help those in our state crippled by student loan debt,” Governor Hogan said. “This program helps Maryland taxpayers pay off student debt, while remaining in the workforce and having a positive impact on the state economy.”

“MHEC staff is proud to administer programs like this that support student success with less debt,” Secretary Fielder said. “Governor Hogan’s ongoing efforts to find solutions to the national student loan debt crisis is one more example of his unwavering commitment to make education a top priority of his administration.”

There were 9,600 applicants who were eligible for the Student Loan Debt Relief Tax Credit. The tax credits were divided into two groups of eligibility, including Maryland residents who attended a Maryland institution and Maryland residents who attended an out-of-state institution. There were 6,331 eligible applicants who attended in-state institutions and will each receive $1,000 in tax credits, while 3,269 eligible applicants who attended out-of-state institutions will each receive $813 each in tax credits.

Last year, MHEC awarded 9,484 Maryland residents the Student Loan Debt Relief Tax Credit with 5,238 applicants who attended an in-state institution receiving $1,000 each in tax credits and 4,246 applicants who attended an out-of-state institution receiving $883 each in tax credits.

13 Responses to Governor Hogan Announces 2019 Award of $9 Million in Tax Credits for Student Loan Debt

  1. Anonymous on January 14, 2020 at 10:04 am

    how about making them actually work and pay back their student loan instead of the hardworking tax payer pay for their debt?WHY ARENT YOU SPENDING MY TAX DOLLARS ON BETTER THINGS INSTEAD OF REWARDING LAZINESS?

  2. Queen of the Iron Throne on January 14, 2020 at 10:27 am

    I paid for 5 of the 7 years my daughter attended college and grad school. She took out loans to pay for the other two years. Who do I see to get some of my money back?

  3. Big Cookie on January 14, 2020 at 10:28 am

    Just like every politician…..buying votes with others money!

  4. research on January 14, 2020 at 11:22 am

    Great…Let’s reward those who put themselves in debt over their heads, while NOT rewarding those who are responsible stewards of their finances…Hogan is a D masquerading as a R

  5. Wallace B. on January 14, 2020 at 11:53 am

    What are we doing for the guy who never made a late payment and paid off all his debt? He get any “credits”? This state is a joke.

  6. Publius on January 14, 2020 at 1:19 pm

    The taxes Maryland spends come from someone. So, the HVAC technician, the plumber, the carpenter, the mechanic, who went to work out of high school, eschewing student loan debt, gets his or her share of the burden of paying down the debt of folk who broke the promise to repay borrowed money to enjoy four to six years of academic life.

    First, we bailed-out banks so the executives could get their bonuses. Then, we bought a bunch of cars we couldn’t use (Cash-for-Clunkers), bought a bunch of houses we couldn’t sell (Mortgage crisis), now we get to pay for the education mostly employed folks who borrowed money they have no intention of repaying. I don’t wonder why taxpayers get mad.

  7. The REAL Truth on January 14, 2020 at 1:59 pm

    Why do we insist on helping these young adults who went into a situation knowing they would not be able to pay off their debt? Are we doing this for home owners too? Can I go out and buy a $1M home knowing I will never be able to pay it off and then I can get a “tax credit” to help with it?

  8. an overburdend tax payer on January 14, 2020 at 2:10 pm

    I like most things Hogan does, but this is not one of them. No one twisted the arm of these people to take out these loans. Why should we help them pay them back. Other people take out loans all the time and no one is looking to help them pay them off. If they wanted to go to school to get an education, party, lounge around for a few years or whatever, let them repay the loans they accumulated.

  9. Wendell Philips on January 14, 2020 at 4:22 pm

    Dear Governor Hogan,

    I don’t disagree that being saddled with a huge amount of student debt is a problem for each individual. However, why are the Maryland taxpayers on the hook for the money that they knowingly borrowed to attend college? These people knowingly borrowed huge amounts of money to go to school. Why now are they being given our ta money?
    My wife and I put two kids through school, all on our dime. We’re not wealthy, we saved to be able to provide our kids with their education. To what agency do I apply to get my money back?

  10. Scott on January 15, 2020 at 12:43 am

    Can anyone provide details on how to apply for this? Application process?

    • somdforever on January 15, 2020 at 8:58 am

      It’s a secret the State doesn’t want out of the bag!

  11. The REAL Truth on January 15, 2020 at 8:30 am

    Nice censorship SMNewsnet!

  12. GameChanger on January 15, 2020 at 3:58 pm

    This already exist and has been in effect! There is nothing new about this at all. For him to say this like it’s going to be something to help MD residents its not

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