More than a quarter million student loan borrowers have paused their loan repayment plans while economic hardship forebearances have more than doubled. Interest rates have resumed, as have debt collections. If you’re struggling with loan repayments, there is help available.

Maryland has a Student Loan Debt Relief Tax Credit which provides some relief for Maryland student borrowers. To be eligible for the credit, a borrower must:

• Be a Maryland taxpayer.
• Have incurred at least $20,000 in undergraduate and/or graduate student loan debt.
• Owe at least $5,000 in outstanding student loan debt at the time of applying for the tax credit.

Applications to apply for the Student Loan Debt Relief Tax Credit close on September 15.

If you are having problems with your student loan servicers, you can contact Maryland’s student loan ombudsman.