Political Quotes

“The bottom line is, we all recognize that the cost of college education has quadrupled over the last 20 years, growing at twice the rate of inflation. In fact, over the past 5 years, the demand for college loans has soared by more than 82 percent. Therefore, recent graduates have been forced to assume a greater burden of debt after they graduate from college. My amendment would add a tax credit for interest on student loans for the first 5 years upon graduation so that it would ease the amount of debt that individuals have to assume. It would be a $1,500 tax credit. In fact, this has received the support of the American Council on Education. I will quote from this letter: By adding your amendment to the Roth provision, students who are working hard to repay their loans will receive tax relief for the duration of their repayment and benefit from the additional relief of your credit during their first years out of college.”