Assist college graduates facing weak job prospects by eliminating the cap on the student loan interest deduction.

With young people facing rising education costs and a weak job market, the cap of $2,500 on the student loan interest deduction does great harm to lower and middle class individuals struggling to gain a foothold after graduation. Even at today's low interest rates student loan interest can easily amount to four or five times the maximum allowed deduction. This cap is most likely to affect individuals from lower and middle class households because they are more likely to have taken out large amounts of loans in order to pay for college. The elimination of this cap would encourage education and relieve a great deal of pressure from middle and lower class youths facing weak job prospects after graduation.