End the student loan interest tax deduction $2500 limit and the income-based phaseout. All interest should be deductible

The IRS currently allows only $2,500 of student loan interest to be deducted on taxes, and that amount phases out as income increases. The cap on deductible loan interest cannot be justified, and is especially burdensome on recent graduates, for whom interest makes up the majority of loan payments. The income-based phase-out of this deduction should also be eliminated, since it creates a disincentive for new graduates to seek higher-paying jobs that create more value in the economy.