Student loan interest deduction on tax reform chopping block

Rep. Salud Carbajal hosted a tax reform forum at the University of California, Santa Barbara on Monday night.

The Santa Barbara Democrat told undergrad and graduate students he voted against H.R.1, tax reform legislation before Thanksgiving.

The legislation passed by Republicans in the House of Representatives calls for dropping the student loan interest deduction.

“Anybody who takes a student loan interest deduction or relies on graduate doctoral
tuition waivers, that they get as part of their tax every year, will not have that benefit available to them,” said Carbajal.’

Many students seem worried about the proposed change.

Associated Students external Vice President Kristin Hsu said she was worried it would deter people from higher education and graduate school.

But the first student to raise a hand to ask a question said he was more concerned about investigating the Clinton Foundation about uranium and the national debt.

Bryan Katz said,” If they can’t go to grad school because of fewer deductions, perhaps they should go to a trade school.”

Carbajal said he would talk to the student later and suggested students make a case for higher education

Hsu urged her classmates to vote.

“Once students do find out it will effect them, they will turn out in droves, said Hsu.