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ask Congress to expand the student loan interest income tax deduction to cover all interest whenever paid

Created by B.D. on April 15, 2014

Currently, the student loan interest deduction is limited as to how long you can deduct interest and in what amounts. Given the escalating cost of education and the burden if student loan debt on the economy due to the restriction of the financial abilities of former students' to purchase homes and automobiles, the student loan interest tax deduction should be expanded to mirror the home mortgage interest deduction. Lastly, the US Department of Education has been reported to be making a "profit" on student loan interest; surely a tax break on the money making the government a profit is in order compared to mortgage interest payments, most of which do not profit the government.

Budget & Taxes
Economy & Jobs
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