Rand Paul and higher education

Sen. Rand PaulĀ 

LOUISVILLE, Ky. (WDRB) -- Kentucky Senator Rand Paul has an idea he says will help ease the pain of paying back student loans.

Paul says he plans to file a bill he calls the "Tax Free Education Act."

It would make education expenses like student loans 100% tax deductible, meaning students would be able to deduct the cost of their education from their income taxes.

"Making college tax deductible, I think, would help a lot of families," Paul said. "A lot of families are struggling. College tuition has doubled over the last decade. Loan payments are going up. I meet people in their 30s still trying to pay back their loans."

Paul says his bill would apply to all colleges and technical schools, and it would also allow expenses for K-12 education to also be tax deductible.

The senator plans to file the bill next week.

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