We humbly request that you increase the amount of income tax deductions (1098-E) allowed on student loan interest payments. Currently, the maximum amount is $2500; we would like to see the deduction doubled to $5000. Ultimately, it will provide debtors an incentive to pay off their student loans as quickly as possible.
Why is this important?
Please, join me in asking lawmakers to increase the amount of income tax deductions (1098-E) on student loans. Currently, the maximum amount is $2500. As a federal education loan recipient, I would like to see the deduction doubled to $5000. It provides debtors an incentive to pay off their loans as quickly as possible. I strongly believe this will benefit responsible individuals who wish to get the student loan burden off their backs.
