The Government should remove the cap on the tax deduction for student loan interest payments, as well as the income restriction on the ability to claim the deduction.
We should be offering incentives for students to invest in their own future, by taking on debt for the cost of higher education. We should not penalize those who take on significant amounts of debt to further their own future.
We offer unlimited tax write-offs on mortgage interest, regardless of income level. Thereby, we incentive people to own homes, but not to invest in higher education.
Fix this problem, by removing the cap and income restrictions so that we incentive students to become the future Doctors, Lawyers and Engineers of tomorrow.