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House GOP Proposal Raises Taxes on Students and Loan Borrowers

November 2, 2017 
Contact: Sarah Schultz,, 202-734-6510

[Washington] – Today, House Republicans unveiled their tax bill, which contains various policy proposals that will impact young people’s economic security, including higher education. The plan eliminates the Lifetime Learning Credit and Hope Scholarship Credit, tax deductions for families paying for college tuition and fees. It also eliminates the student loan interest deduction, which benefits more than 12 million student loan borrowers. Overall, the House GOP’s plan will cut $65 billion from higher education over the next decade.

Young Invincibles supports efforts to streamline and simplify higher education tax provisions, but resources currently dedicated to such provisions should be used to bolster efforts proven to increase college access, improve completion, and support affordable student loan repayment, not cut.

Reid Setzer, Young Invincibles’ Director of Government Affairs issues the following statement:

“At a time when young adults and families are struggling more than ever to pay for higher education, they simply can’t afford to have more financial support eliminated by this tax plan. If lawmakers want to make our economy stronger, they should boost funding for higher education and target financial assistance to those who need it most, not drain programs that help train our workforce to pay for tax cuts for the wealthy.”

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