Quigley Introduces Bill to Address Burden of Student Debt

Press Release

U.S. Representative Mike Quigley (IL-05), along with his Democratic colleagues in the House, introduced the Student Loan Interest Deduction (SLID) Act. The SLID Act would increase tax deductions for interest paid on student loan debt and help ease the burden of repaying loans for education.

"In today's 21st century economy, education opens the door to higher paying jobs, but the growing cost of higher education is forcing too many students to take on the financial burden of student loans," said Rep. Quigley. "In Illinois, the average amount of student loan debt is more than $25,000 per borrower. With the Student Loan Interest Deduction Act, borrowers will be able to deduct double what they currently can from their taxes. This tax deduction will help alleviate the burden on borrowers and better position middle class families who have taken on loans and made responsible on-time payments to fund their higher education."

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