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S 458 107th Congress Senate

Make College Affordable Act of 2001

Official title: A bill to amend the Internal Revenue Code of 1986 to make higher education more affordable, and for other purposes.

Introduced: March 27, 2001 Introduced by: Schumer, Charles E. Democratic · New York See on congress.gov
Taxation College costsCost of living adjustmentsEconomics and Public FinanceEducation
More subjectsShow fewer subjects
Educational financeFinance and Financial SectorHigher educationIncome taxIndexing (Economic policy)InterestLabor and EmploymentPersonal income taxStudent loan fundsTax creditsTax deductionsVocational and technical education
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This bill died when the 107th Congress ended
It never became law before the 107th Congress (2001–2002) 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
Mar 6, 2001
Read twice and referred to the Committee on Finance.
Mar 6, 2001
Introduced in Senate
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 Latest action March 6, 2001

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service
Make College Affordable Act of 2001 - Amends the Internal Revenue Code to allow an annual income-adjusted deduction for qualified higher education expenses (tuition and academic fees) paid on behalf of a taxpayer, spouse, dependent, or grandchild. (Prohibits the use in the same year of such deduction and the Hope and Lifetime Learning Credits.)

Establishes an annual income-adjusted credit (up to $1,500) for the interest paid during the first 60 months of a qualified higher education loan by a non-dependent taxpayer.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Durbin, Richard J.
Illinois · Mar 27, 2001
Cite this page click to expand
APA
U.S. Congress. (2026). S. 458: Make College Affordable Act of 2001. 107th Congress. Open America. https://openamerica.io/bill/107-S-458/
MLA
"S. 458: Make College Affordable Act of 2001." 107th Congress, 2026, Open America, https://openamerica.io/bill/107-S-458/.
Bluebook (legal)
S. 458, 107th Cong. (2026), https://openamerica.io/bill/107-S-458/.
Markdown link
[S. 458: Make College Affordable Act of 2001](https://openamerica.io/bill/107-S-458/)
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