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S 573 105th Congress Senate

Loan Interest Forgiveness for Education Act

Official title: A bill to amend the Internal Revenue Code of 1986 to allow an income tax deduction for student loan interest payments.

Introduced: April 15, 1997 Introduced by: Grassley, Chuck Republican · Iowa See on congress.gov
Taxation Business income taxCommerceCost of living adjustmentsEconomics and Public Finance
More subjectsShow fewer subjects
EducationFinance and Financial SectorGovernment Operations and PoliticsGovernment paperworkHigher educationIncome taxIndexing (Economic policy)InterestPersonal income taxStudent loan fundsTax deductionsTax returns
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This bill died when the 105th Congress ended
It never became law before the 105th Congress (1997–1998) 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 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 16, 1997
Sponsor introductory remarks on measure. (CR S3299)
Apr 15, 1997
Read twice and referred to the Committee on Finance.
Apr 15, 1997
Sponsor introductory remarks on measure. (CR S3199-3201)
Apr 15, 1997
Introduced in Senate
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 Latest action April 16, 1997

Sponsor introductory remarks on measure. (CR S3299)

 Plain-English summary Congressional Research Service

Loan Interest Forgiveness for Education Act - Amends the Internal Revenue Code to allow a limited deduction (based on modified adjusted gross income) on an amount equal to the interest paid by a taxpayer on any qualified educational loan.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 573: Loan Interest Forgiveness for Education Act. 105th Congress. Open America. https://openamerica.io/bill/105-S-573/
MLA
"S. 573: Loan Interest Forgiveness for Education Act." 105th Congress, 2026, Open America, https://openamerica.io/bill/105-S-573/.
Bluebook (legal)
S. 573, 105th Cong. (2026), https://openamerica.io/bill/105-S-573/.
Markdown link
[S. 573: Loan Interest Forgiveness for Education Act](https://openamerica.io/bill/105-S-573/)
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