I got the Maryland Student Loan Tax Credit!

Ok, update time!

I received the student loan tax credit I told you all about in my post how to claim Maryland student loan debt relief tax credit. But before I reveal how much of a tax credit, let’s recap where I am and my qualifications:

I currently live in the great State of Maryland, which offers a tax credit up to $5,000.00 as long as you live in Maryland, file state income taxes, have incurred at least $20,000.00 in student loans, and have at least $5000.00 balance as the time you apply for the credit.

I’ll soon post my financial picture, but for now, lets simply say I qualify for the student debt tax credit.

I graduated from college in May 2017 from a university out-of-state, and since I graduated, I’ve been living in the DC suburbs of Maryland.

Here is the rub: If you meet the above qualifications AND attended a university in Maryland, you are prioritized over other people who attended out-of-state schools.

You can imagine what this means….

I only received $883.00.

Now, don’t get me wrong… I’m grateful. This is essentially FREE MONEY. I spent less than $13.00 on postage, certified mail, return receipt to send in my application. I’m not the one to bite the hands that feeds me. At the end of the day, I still received a tax credit that I can apply to my student loans.

However, I was a bit disappointed when I saw I wasn’t getting a few grand back. That would’ve made a substantial dent in my modest student loan balance.

Call me greedy, but I immediately hopped online to figure out what I did wrong and how I can get more in 2019.

Apparently, all out-of-state recipients received $883.00 and all in-state recipients received $1,000.00.

So I’m not special… I’m just lucky to live in Maryland.

Each year I’m definitely going to re-apply to this program. The state of Maryland has made the process even easier by allowing applicants to e-mail their information in each year.

I’ll look forward to my yearly check no matter how small from this student loan tax credit program.