Student loan debt is undoubtedly holding back the United States economic recovery. One simple and fair way to help the economy and the student is to make student loan interest fully tax deductible like a mortgage.
The average undergraduate and graduate student are completing their programs with roughly $30,000 and $60,000 in loan debt. The current interest deduction for student loans is capped at $2,500, meaning that almost any undergrad with more than average loan debt, and any grad student with average student loan debt will end up paying interest on their federally supported education without having the benefit of a deduction to their taxable income. Students are paying enough on their loans, don't make them pay twice.