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HR 2649 100th Congress House Taxation Education Finance and Financial Sector Income tax Interest Scholarships Student aid Student loan funds Tax deductions Tax exclusion

A bill to amend the Internal Revenue Code of 1986 to restore the prior law exclusion for scholarships and fellowships and to restore the deduction for interest on educational loans.

Introduced: June 10, 1987 See on congress.gov
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This bill died when the 100th Congress ended
It never became law before the 100th Congress (1987–1988) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 25, 1988
Referred to Subcommittee on Select Revenue Measures.
Jun 10, 1987
Referred to House Committee on Ways and Means.
Jun 10, 1987
Introduced in House
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 Plain-English summary Congressional Research Service

Repeals specified provisions of the Tax Reform Act of 1986 that restrict the types of scholarships and fellowship grants that may be excluded from gross income for income tax purposes. States that the Internal Revenue Code of 1986 (IRC) shall be applied and administered as if such provisions had not been enacted.

Amends the IRC to allow an income tax deduction for interest on a qualified educational loan incurred to pay the educational expenses of the taxpayer, spouse, or dependent. Eliminates the current requirement that such indebtedness be secured by an interest in real property.

What's happening now May 25, 1988

Referred to Subcommittee on Select Revenue Measures.

 Committees of jurisdiction 2
 Cosponsors 5
All 5 Democratic 5
D
Kaptur, Marcy
Ohio · Jun 28, 1988
 D
Hoyer, Steny H.
Maryland · Oct 1, 1987
 D
Pelosi, Nancy
California · Oct 1, 1987
 D
Schumer, Charles E.
New York · Oct 1, 1987
 D
Mfume, Kweisi
Maryland · Jun 10, 1987
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2649: A bill to amend the Internal Revenue Code of 1986 to restore the prior law exclusion for scholarships and fellowships and to restore the deduction for interest on educational loans.. 100th Congress. Open America. https://openamerica.io/bill/100-HR-2649/
MLA
"H.R. 2649: A bill to amend the Internal Revenue Code of 1986 to restore the prior law exclusion for scholarships and fellowships and to restore the deduction for interest on educational loans.." 100th Congress, 2026, Open America, https://openamerica.io/bill/100-HR-2649/.
Bluebook (legal)
H.R. 2649, 100th Cong. (2026), https://openamerica.io/bill/100-HR-2649/.
Markdown link
[H.R. 2649: A bill to amend the Internal Revenue Code of 1986 to restore the prior law exclusion for scholarships and fellowships and to restore the deduction for interest on educational loans.](https://openamerica.io/bill/100-HR-2649/)
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