HI HB958

Allows individual taxpayers to deduct student loan repayment amounts from gross income, with a deduction limit amount to be specified (blank in bill text).

Provides higher deduction limits for married couples filing joint returns compared to individual filers, with married couples filing separately having combined limits.

Defines "qualified student loan" as loans taken solely for qualified education expenses (tuition, fees, room and board, books, supplies, transportation) for the taxpayer, spouse, or dependent.

Applies to loans for education at eligible educational institutions including colleges, universities, vocational schools, and post-graduate medical/health care residency programs.

Becomes effective upon approval and applies to taxable years beginning after December 31, 2017.