The cost of education in America is rising every year. The current national student loan debt is over $1 trillion. Due to increasing inflation rates on food, clothing, rent, gas, etc. it is becoming increasingly difficult for students to payoff their student loans after their college years.
Allow the payment of student loans with pre-tax income. This can be limited to just Federal loans, or available to private or state student loans as well.
States already offer a similar plan for parents to save for education costs for their children in the 529 plan. However, if parents were not able to provide assistance, students are left with extraordinary costs.
The benefits are clear, more disposable income for students to invest in our economy and less defaults and deferments for creditors.