Musgrave Co-Sponsors Bill

Press Release

In an effort to reduce the cost of college tuition and help students and parents, Congresswoman Marilyn Musgrave has signed on as a co-sponsor of the Higer Education Affordability and Equity Act.

"There is no denying the importance of obtaining a college degree and the opportunity it provides to succeed in today's economy," said Musgrave. "Many students and families struggling to afford the cost of increasing tuition, as a result, are putting off their education. The federal government should not exacerbate this problem with taxes; rather it should use tax breaks to provide incentives to help individuals afford higher education."

The act allows taxpayers making less than $100,000 to deduct the full amount of their student loan interest as well as allowing tax-free treatment of scholarships, including room and board. Currently, only tuition and fees are tax exempt.

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