Repeal Income Limits on Student Loan Tax Interest Credits
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We ask that you support this petition asking the President and Congress to repeal income limits on student loan tax interest credits.
Currently, our tax code permits student loan interest deductions of up to $2,500 on qualified student loans so long as your modified adjusted gross income is less than $75,000 (or less than $155,000 if filing a joint return).
Higher tuitions force students to take out student loans to finance their degrees, yet our tax code penalizes success. In 2013, 69% of 4-year public & private college graduates had student loan debt; an average of $28,400 in federal & private loans.
Students seeking graduate degrees have significantly higher loan debt; one-quarter of graduate students borrow nearly $100,000, and another 1 in 10 borrow more than $150,000.
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