Massachusetts H3035 amends tax law to allow deductions for graduate student loan debt.
Massachusetts H3035 amends the state tax code to permit taxpayers to deduct graduate student loan debt from their taxable income. This change applies to loans secured through state, federal, or commercial lenders, provided they were used solely for tuition payments. The bill defines "graduate education debt" as any loan administered for graduate or professional degree students. This amendment aims to alleviate the financial burden of graduate education debt for taxpayers in Massachusetts.
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