Millennials are entering the workforce after graduation or even stopping out due to financial hardships. The current $2,500 student loan interest deduction only captures a portion of the interest that many students will each year over the majority our their professional careers to repay the investment in our higher education.
Removing the $2,500 cap on student loan interest deduction will allow young professionals to reduce their federal tax burden allowing them to invest in their futures, increase the amount that they can repay in their student loans or more importantly invest in our nation's economy as consumers.