To amend the Internal Revenue Code of 1986 to restore the deduction for interest on higher education loans and to permit penalty-free withdrawals from qualified retirement plans to pay for higher education expenses.
Higher Education Finance Improvement Act - Amends the Internal Revenue Code to allow an income tax deduction for interest on any indebtedness incurred: (1) to pay the higher educational expenses of the taxpayer, spouse, or child; and (2) pursuant to a Federal or State loan guarantee or insurance program.
Allows penalty-free withdrawals from qualified retirement plans for the payment of qualified higher education expenses.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E617-618)
Referred to the House Committee on Ways and Means.
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