Today, many American students who thought that going to college would be the best thing for their future are being punished. The average college student graduates with $28,400 of student loan debt. This debt goes taxed as income tax, however income tax is meant to tax income. Student loans are in no way shape or form income, considering the fact that student loans go from the lender right to the student's tuition. Students are essentially being double taxed by government. If buying a home can be tax deductible, then students should receive a break from taxation on student loans for trying to achieve a higher education that will ultimately contribute to a better society.
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