Increase or Eliminate the Limit on the Student Loan Interest Tax Deduction

The Student Loan Interest Tax Deduction (SLID) allows those burdened with student loan debt to deduct the interest they paid on their loans from their income for tax purposes. However, the deduction is limited to $2500, even though many of those indebted due to education pay much more in interest payments every year. This limit is unfair given that homeowners are not limited in how much of their mortgage interest they can deduct every year. Those who chose to invest in their futures should be granted the same consideration. This petition calls on the White House to push for consideration of a change to SLID, which eliminates the limit on the amount of interest deductible, or significantly raises the limit.