DOVER, Del.- When lawmakers return to session in Dover next year, one issue they could take up is the potential of creating a tax credit for student loan debt.
The plans were announced by state Sen. Greg Lavelle, R-Sharpley, amid a re-election bid but would not be taken up at their earliest until January, when the legislature returns to session.
The proposal would offer up to $2,500 every 10 years to college graduates who have more than $20,000 on student loans. The person using the tax credit would also be required to live in the state for two years.
The plan also calls for requiring students to prove within two years of receiving the tax credit that the money went toward student loan debt.
It's unclear how much money the state could lose in deductible income from taxes, though that information could be determined after lawmakers return to session in January.
