Permit graduates to refinance financial aid loans and increase the amount a couple can declare for their interest paid.

Financial Aid Interest
Currently when you consolidate your financial aid what you are left with is a weighted average of your interest rates. What this really means is you get one payment but no change at all to your interest rate.
When you can refinance just about anything else opening the financial aid burden to refinance would be beneficial.
The interest that is paid on these loans is tax deductible up to an amount. The current amount for a couple is less than either person probably pays on their own. An increase in the deductible would allow the graduates to pay the loans down more quickly.