Dr Rand Paul introduces Tax-Free Education Act to help Americans pay and repay student loan debt – Reuters

WASHINGTON DC – This week, US Senator Rand Paul (R-KY) introduced the Tax-Free Education Act to offer a 100% tax deduction to anyone who pays college or K-12 tuition. and associated expenses. This legislation is a pro-taxpayer plan to help Americans pay off student loan debt faster and easier, or avoid it all together.

“Funding education is difficult enough, and Uncle Sam doesn’t need a cut,” said Dr Paul. “My plan allows people to pay for their education with pre-tax dollars and would be available to anyone who helps pay for education – grandparents, aunts and uncles, and family friends. It allows the American people to pay off their school debt and fulfill the dreams they have worked hard to achieve. “

Dr. Paul’s bill would help make education more affordable for students and families so they can attend the school of their choice, from kindergarten to college, ” said Dr OJ Oleka, president of the Association of Independent Kentucky Colleges and Universities (AIKCU). “It also creates a 100% return on investment for students and families looking for the transformative opportunity that a quality education can offer. I am delighted to support this common sense legislation which aims to put students first.

Under Dr. Paul’s legislation, every American could deduct 100 percent of tuition and related expenses for college and K-12 education each year. It also allows these provisions to apply to student support systems that could help pay for college.

You can read the Tax Free Education Act, HERE.

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