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HR 1793 104th Congress House Taxation College costs Congress Congressional reporting requirements Education Educational finance Federal preemption Finance and Financial Sector Government Operations and Politics Government internships Higher education Income tax Interest Student loan funds Tax credits Tax deductions

To amend the Internal Revenue Code of 1986 to allow a credit or deduction for interest paid on educational loans.

Introduced: June 8, 1995 See on congress.gov
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This bill died when the 104th Congress ended
It never became law before the 104th Congress (1995–1996) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 8, 1995
Referred to the House Committee on Ways and Means.
Jun 8, 1995
Introduced in House
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 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to allow a tax credit for interest paid or incurred on any qualified education loan during the first 48 months (whether or not consecutive) for which interest payments are required to be made. Limits such credit to $300.

Allows such tax credit to parents only if the dependent is a student and a personal exemption is claimed for such dependent student.

Reduces interest by the amount bearing the same ratio to the interest as the excess of adjusted gross income over the applicable dollar amount bears to the phaseout range. Establishes applicable dollar amounts and phaseout ranges.

Excludes interest paid on education loans from the definition of "personal interest" (thus, allowing a deduction to be taken) unless a credit or deduction with respect to such interest is taken.

What's happening now June 8, 1995

Referred to the House Committee on Ways and Means.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Mfume, Kweisi
Maryland · Jun 8, 1995
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APA
U.S. Congress. (2026). H.R. 1793: To amend the Internal Revenue Code of 1986 to allow a credit or deduction for interest paid on educational loans.. 104th Congress. Open America. https://openamerica.io/bill/104-HR-1793/
MLA
"H.R. 1793: To amend the Internal Revenue Code of 1986 to allow a credit or deduction for interest paid on educational loans.." 104th Congress, 2026, Open America, https://openamerica.io/bill/104-HR-1793/.
Bluebook (legal)
H.R. 1793, 104th Cong. (2026), https://openamerica.io/bill/104-HR-1793/.
Markdown link
[H.R. 1793: To amend the Internal Revenue Code of 1986 to allow a credit or deduction for interest paid on educational loans.](https://openamerica.io/bill/104-HR-1793/)
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