Word: student
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Dates: during 1990-1999
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However, recent changes in federal policy on student loan interest more than halved the Massachusetts program's cost and made a change in state policy easier to sell...
...budget signed this month by Gov. A. Paul Cellucci allows students and parents to deduct a percentage of the interest on undergraduate student loans from their state income tax. The cut exists for the entire length of the debt as long as the debtor lives in the Commonwealth...
...when the change takes effect, a student leaving college with $30,000 in loans at 8 percent interest--the rate for Harvard's student loan program--would owe $2,400 in interest the first year and would save $142 on state income taxes. The interest and savings would both decrease as the principal is paid...
Offering a full deduction on student loans will keep more college-educated in the state after they graduate, said the sponsor of the budget provision, state senator Cheryl A. Jacques (D-Norfolk, Bristol and Middlesex...
...Harvard student Eric S. Olney '98, who, as an undergraduate testified before the Senate Ways and Means committee in support of the deduction, said he agrees it will influence students to stay in Massachusetts...