Remove the cap on the Student Loan Interest Income Tax Deduction.

This petition calls for the removal of the current $2,500 cap on the student loan interest deduction for income tax. With student loan debt at an all-time high, many former students are now faced with staggering debt while having difficulty finding quality full-time employment. The interest deduction is a simple way to help lower the tax burden for these individuals, however the deduction is currently capped at $2,500. This figure is well under the amount of interest paid in a year by many graduates. This petition recommends formatting the interest deduction of student loans to reflect the current mortgage interest deduction.