Check your account for disbursement: Generally, the school receives student loan money directly. Loans are usually disbursed to your account near the beginning of each school term, and the money is used to pay tuition and fees. Anything left over can be passed on to you for other education expenses, such as living costs, books and equipment.

Marylanders with student loans can get up to $5,000 in relief by applying for the Student Loan Debt Relief Tax Credit for the 2025 tax season.

New York City Mayor Eric Adams announced the student loan reduction and college savings assistance program on Thursday.