There are more than 38 million Americans with outstanding student loan debt totaling nearly $1 trillion (Consumer Financial Protection Bureau).
Average student loan debt for the Class of 2011 was $26,600, a 5 percent increase from 2010. (The Project on Student Debt)
Debt repayment limits our ability to save or take on other forms of consumer debt. In 2011, first-time home buyers, with a median age of 31, fell to the smallest percentage of total home purchasers since 2006. (National Association of Realtors)
The current tax code limits student loan interest deduction to $2500, or $0 for singles earning $75,000 or more. (IRS)
We, the undersigned, call on our government to remove all limits on student loan interest deductions from the tax code.