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Pennsylvania House of Representatives
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=H&SPick=20170&cosponId=21021
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House of Representatives
Session of 2017 - 2018 Regular Session

MEMORANDUM

Posted: December 2, 2016 03:15 PM
From: Representative Michael H. O'Brien
To: All House members
Subject: Reintroduction of Legislation-Legislation that will help reduce the burden of college debt-HB 607 of 2015-16 Session
 
"Drowning in Debt." A phrase once associated with those who had shown financial irresponsibility. Sadly, it is now associated with recent college graduates. Many of those entering the workforce will carry loan repayments that are equal to a mortgage.

They will fail to realize the American Dream.

I am introducing legislation that will help reduce the burden of college debt. It provides for a tax credit for interest paid on student loans. My legislation provides for a tax credit up to $2,500 per individual on interest paid during a calendar year for the life of the loan. The credit would be available to individuals making up to $75,000 and couples up to $155,000.

This is an important step in relieving the millennial generation debt and making the American Dream within reach.

I urge you to join me in sponsoring this Bill.



Introduced as HB29