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HR 1304 108th Congress House

College Affordability and Lifetime Savings Act

Official title: To make college debt more affordable, and for other purposes.

Introduced: March 18, 2003 See on congress.gov
Taxation Child care workersCost of living adjustmentsEconomics and Public FinanceEducation
More subjectsShow fewer subjects
Elementary and secondary educationFamiliesFederal aid to educationFinance and Financial SectorHigher educationIncome taxIndexing (Economic policy)InterestScholarshipsStudent loan fundsTax creditsTax exclusionTeachers
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This bill died when the 108th Congress ended
It never became law before the 108th Congress (2003–2004) 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
Mar 18, 2003
Referred to the House Committee on Ways and Means.
Mar 18, 2003
Sponsor introductory remarks on measure. (CR E485-486)
Mar 18, 2003
Introduced in House
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 Latest action March 18, 2003

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service
College Affordability and Lifetime Savings Act - Amends the Internal Revenue Code to: (1) convert the current deduction for interest on education loans to a credit equal to 50 percent of the interest paid during the taxable year on any qualified education loan; and (2) exclude from gross income amounts which would be included under specified loan forgiveness programs for teachers and other public servants.
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 17
All 17 Democratic 11 Independent 1
SANDLIN, MAX
· May 22, 2003
 D
Kaptur, Marcy
Ohio · Apr 3, 2003
 D
Davis, Danny K.
Illinois · Mar 25, 2003
 D
Case, Ed
Hawaii · Mar 18, 2003
 D
Doggett, Lloyd
Texas · Mar 18, 2003
FROST, MARTIN
· Mar 18, 2003
HOEFFEL, JOSEPH
· Mar 18, 2003
 D
Lofgren, Zoe
California · Mar 18, 2003
Majette, Denise
· Mar 18, 2003
 D
Markey, Edward J.
Massachusetts · Mar 18, 2003
 D
McCollum, Betty
Minnesota · Mar 18, 2003
 D
McGovern, James P.
Massachusetts · Mar 18, 2003
 D
Nadler, Jerrold
New York · Mar 18, 2003
 D
Neal, Richard E.
Massachusetts · Mar 18, 2003
RODRIGUEZ, CIRO
· Mar 18, 2003
 I
Sanders, Bernard
Vermont · Mar 18, 2003
 D
Schakowsky, Janice D.
Illinois · Mar 18, 2003
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1304: College Affordability and Lifetime Savings Act. 108th Congress. Open America. https://openamerica.io/bill/108-HR-1304/
MLA
"H.R. 1304: College Affordability and Lifetime Savings Act." 108th Congress, 2026, Open America, https://openamerica.io/bill/108-HR-1304/.
Bluebook (legal)
H.R. 1304, 108th Cong. (2026), https://openamerica.io/bill/108-HR-1304/.
Markdown link
[H.R. 1304: College Affordability and Lifetime Savings Act](https://openamerica.io/bill/108-HR-1304/)
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