Hogan Proposes Capping Maryland University Tuition Increase at 2 Percent
by
Wcbm
Gov Larry Hogan announced plans Tuesday to spend $17.5 million next year to defray rising tuition at many public Maryland colleges.
Along with his proposed 2 percent cap on in-state tuition increases, the governor pitched a small tax break for many state residents repaying student loans.
Both initiatives need General Assembly approval and come as the governor must close an estimated budget gap of more than a half-billion dollars.
Individuals making up to $200,000 a year would be able to deduct student loan interest payments from their state income taxes under Hogan’s plan, which he described in broad terms during a news conference at the University of Maryland, College Park. Student loan interest is often deductible from federal income taxes.
