Caveat: I’m just thinking out loud here as a grad student, haven’t done the research yet.
That being said…
All this talk about removing the mortgage interest tax deduction, yet why do I hear no talk about changing tax deductions for student loans and other educational expenses? (note: that’s at least 50% a rhetorical question).
I’ll talk more about this later in the week (at least that’s the plan) with the #’s, but as post-secondary educational costs increase at several times the rate of inflation, why are we not giving students a break by increasing deductions/deduction limits to match these increased costs? Last I checked educational expenses are deductible up to $3,000/year, yet tuition + expenses/year of post-secondary education run 10-20x + that! I’m not saying everything should be deductible – that’s silly and unrealistic – but with textbooks costing $250+ each and 4-5 classes/semester, that $3,000 is only a blip for most students.