Make Student Loan Payments Tax Deductible to ALL- Not just interest

Make Student Loan Payments Tax Deductible to ALL- Not just interest

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Petition to
U.S. Senate and

Why this petition matters

Started by T D

I believe student loan payments should be TAX DEDUCTIBLE for whomever pays them regardless of income! We took our loans and SHOULD pay them back. HOWEVER, we did not set the cost of education and one person's income does not say anything about their lifestyle unless their expenses are also taken into consideration!

Student loan reform has been a hot topic for a while and even more so lately. Many believe that forgiveness is the only way to solve the issue, while others believe that it would be unfair to those without student loans ,or who paid off their loans. The truth is college education is extremely expensive in the US. Many people must earn degrees to grow in their career or to get a job that will pay the bills and some more. Another reality is that all schools are not equal. Most of the time the best opportunities are available to those graduating from "highly ranked" colleges/universities and those are very expensive.

I spent tens of thousands of dollars for my graduate education. And because I had to go full time and had young kids, I had to take on some more loans to cover childcare. Covid-19 hit and I could not go back to work because someone had to watch the kids. Now that things are looking better out there, I am struggling to find a job that will help me cover child care for 3 preschool aged children (1+twins), comfortably pay my student loans and save for retirement. February is around the corner, payments will be due and I am scared. Luckily, my husband can cover our living expenses.

Friends of mine are spending tens of thousands of dollars yearly for their oldest daughter's education; and they have two more girls planning to go to college! Because of their household income the girls cannot get enough money for college by themselves. And even if they could, it would be more than 30k a year for in state tuition in a state university! I will not even go into the compounding interest rates which are ridiculously high!  What are the parents to do? Tell their kids they can't go to college? 

There are millions of people in many different situations facing the same issue. Longing for a better future, wanting to become a vector for change, dreaming to contribute to their communities, but having to take loans so big that they might send them into bankruptcy, if God forbid they lose their job or become incapacitated.

I, and most of the people I talked to, DO want some type of student loan reform. BUT we want a reform that would make sense for most of us. We consciously took those loans and knew we had to pay them back. But we do believe the payments should at least be  TAX DEDUCTIBLE. This way, it wouldn't matter if Aunt Mae paid Maya's loan, or if it's her sister or dad who did. She would get a good education, greatly contribute to her community and the person who took the loans would be less afraid for their future.

Getting a quality education should not be INCAPACITATING but for many it is. Some are unable to afford a home, others postpone having children. I have heard of people not getting the healthcare treatment they need, all because they have student loans with payments bigger than most mortgages. You would be surprised that those people are doctors, lawyers, highly ranked business people, engineers, entrepreneurs etc. They are career people with great income on paper.

I truly hope that this option, would be seriously considered by our government in addition to the ones already on the table.  Please SIGN this petition, SHARE it with friends and GOVERNMENT OFFICIALS, have them share it as well.

I cannot thank you enough for taking the time to read this and for your support.

God bless you, and God bless the United States of America.

A mother with student loans.   



285 have signed. Let’s get to 500!