An education loan is a form of financial aid that must be repaid, with interest.

Loan Categories

Education loans come in three major categories:

  • Student Loans
  • Parent Loans
  • Alternative or Private Loans

Types of Loans


The ultimate responsibility of financing an education lies with the student. Students who finance their education with student loans must understand that with the acceptance of the loan comes the responsibility of prompt and full repayment.

The University stresses this responsibility not only because loan repayment is ethically correct, but also because loan default could eventually lead to loss of financial aid to future students.

Maryland Loan Debt Relief Tax Credit

Have you incurred at least $20,000 in undergraduate student loan debt and have at least $5,000 in outstanding undergraduate student loan debt remaining?

You may be eligible for a tax credit of up to $5,000 on your 2017 personal income tax! Listen to MHEC's NEW podcast episode to learn about new initiative.​

In order to apply, you mu​st:

  • Complete and submit an application to the Maryland Higher Education Commission by September​ 15th each year;
  • Be a resident of Maryland for the tax year;
  • Incurred at least $20,000 in total undergraduate student loan debt; and
  • Have at least $5,000 in outstanding student loan debt during the tax year for which you are applying.

This tax credit must be used to pay down undergraduate student loan balances within two years of receiving the credit.

How to Apply

To apply, download the application below. ​You must complete and mail the application with the supplementary documentation to the Maryland Higher Education Commission at 6 N Liberty Street, Baltimore, MD 21201, 10th Floor.

​​​​Due to the confidential information in the completed application package, please do not send any application materials via email.

MHEC will certify all eligible Student Loan Debt Relief Tax Credit recipients by December 15, 2019.