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S 930 105th Congress Senate

College Affordability and Access Act of 1997

Official title: A bill to amend the Internal Revenue Code of 1986 to provide tax incentives for education, and for other purposes.

Introduced: June 18, 1997 Introduced by: Collins, Susan M. Republican · Maine See on congress.gov
Taxation College costsCost of living adjustmentsEconomics and Public FinanceEducation
More subjectsShow fewer subjects
Education savings accountsExcise taxFamiliesFinance and Financial SectorFringe benefitsGovernment Operations and PoliticsGovernment paperworkGraduate educationHigher educationIncome taxIndexing (Economic policy)InterestLabor and EmploymentMarried peoplePersonal income tax
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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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 19, 1997
Sponsor introductory remarks on measure. (CR S5951-5952)
Jun 18, 1997
Read twice and referred to the Committee on Finance.
Jun 18, 1997
Introduced in Senate
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 Latest action June 19, 1997

Sponsor introductory remarks on measure. (CR S5951-5952)

 Plain-English summary Congressional Research Service

College Affordability and Access Act of 1997 - Amends the Internal Revenue Code to make the employer-provided educational assistance program exclusion permanent and extend it to cover graduate and professional as well as undergraduate education.

Establishes an income-based deduction of up to $2,750 per year for certain qualified higher education loan interest paid for a taxpayer, spouse, or dependent. Allows the deduction for married couples only if they file a joint return. Allows the deduction whether or not the taxpayer itemizes deductions. Sets forth reporting requirements.

Excludes from taxation higher education savings accounts, permitting limited annual contributions for the account holder's qualified higher education costs. Subjects account distributions used for nonqualifying purposes to taxation, including an additional ten percent tax. Sets forth related reporting requirements.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 930: College Affordability and Access Act of 1997. 105th Congress. Open America. https://openamerica.io/bill/105-S-930/
MLA
"S. 930: College Affordability and Access Act of 1997." 105th Congress, 2026, Open America, https://openamerica.io/bill/105-S-930/.
Bluebook (legal)
S. 930, 105th Cong. (2026), https://openamerica.io/bill/105-S-930/.
Markdown link
[S. 930: College Affordability and Access Act of 1997](https://openamerica.io/bill/105-S-930/)
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