S 628
100th Congress
Senate
Taxation
Education
Finance and Financial Sector
Income tax
Interest
Student aid
Student loan funds
Tax deductions
A bill to amend the Internal Revenue Code of 1986 to restore the deduction for interest on educational loans.
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 15, 1988
Committee on Finance. Hearings held.
Mar 3, 1987
Read twice and referred to the Committee on Finance.
Mar 3, 1987
Introduced in Senate
Plain-English summary
Amends the Internal Revenue Code to allow an income tax deduction for interest paid or incurred on a qualified educational loan.
Defines "qualified educational loan" as any indebtedness incurred to pay the educational expenses of the taxpayer or the taxpayer's spouse or dependent. (Present law requires that such a loan be secured by an interest in real property.)
What's happening now
Committee on Finance. Hearings held.
Committees of jurisdiction
1