A Flexible Spending Account is a special account you put money into that you use to pay for out-of-pocket health care costs. This money is not taxed and as such encourages responsible saving for healthcare.
Student loan debt and tuition payments are just as important and equally burdensome. A new program, or expansion of the existing FSA system, could make a huge difference in the lives of everyday Americans. Rising student loan debt could be effectively reduced by implementing a program such as this. More Americans can continue their education by utilizing a program such as this.
The program should be used for the following; federal student loan debt, private student loan debt, tuition payments, books and supplies. Fraud can be reduced using similar measures as the existing FSA system.