College Debt Alleviation Act of 2006

The College Debt Alleviation Act of 2006 was a legislative proposal designed to reduce the financial burden of higher education through tax changes and interest rate reductions. If enacted, the bill would have increased the maximum tax deduction for tuition and related expenses from $3,000 to $8,000 while raising the income limits to allow more middle-class families to qualify for the break. Additionally, the bill sought to lower interest rates on federal PLUS loans and consolidation loans, potentially reducing the long-term cost of borrowing for students and their parents.