Make Student Loans Tax Deductible

In 2014, 69% of college seniors graduated with an average debt of $28,950 each. This debt is part of a national $1.3 trillion dollar student loan deficit which rests on the shoulders of young Americans and is taxed by the US government as income. As young people struggle to start careers in today's increasingly competitive economy, they are burdened by a tax which is imposed upon the very thing that enables them to survive and contribute to our society; their education. Statistics have shown that a college degree increases the employment rate of young Americans by a factor of three and increases their average annual income by 63%. College degrees are necessary for the financial security of US citizens and the growth of the US economy and should be tax exempt the same as other necessities.