Maryland Governor Announces Student Debt-Relief Initiatives - NBC4 Washington

Maryland Governor Announces Student Debt-Relief Initiatives



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    NBC4 Washington

    Gov. Larry Hogan is announcing some initiatives aimed at making college more affordable and easing student debt.

    Hogan made the announcement Monday at the Universities at Shady Grove campus in Rockville.

    Hogan says he will again introduce legislation that would allow Maryland residents to deduct 100 percent of the interest paid on their student loans from their income tax return.

    He also wants to expand the Maryland Community College Promise Scholarship Program to include four-year Maryland public institutions.

    Hogan announced that the administration will double the deduction for families participating in Maryland 529 savings plans from $2,500 to $5,000.

    The Hogan administration estimates the initiatives would add up to a total of about $385 million over five years to help ease student debt.

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