Make all student loan payments tax deductible (not just interest) and eliminate income cap to qualify for the deduction.

Currently the tax code only allows taxpayers to deduct the INTEREST that they have paid on student loans throughout the year. This petition proposes that the ENTIRE student loan payment--not just the interest--be tax deductible. Many students are graduating with over $100,000 in student loan debt, with minimum monthly payments over $1,000. This severely limits their disposable income for years after graduation. Allowing them to deduct all of their student loan payments from their taxable income would ensure they are taxed at a rate that is representative of their true income, and also give them a return that would boost the economy by them either spending or investing this extra discretionary money. This reduced burden would also incentivize future students to invest in their education.